Scarnose International IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Aug 07, 2023Let’s have a detailed review of the company and analytics of the Scarnose International IPO release date, IPO offer price, subscription, Scarnose International Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 55 |
| Listing At | BSE SME |
| Min. Order Quantity | 2000 Shares |
| Listing Date | Jun 27, 2022 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 660 Lakh |
| IPO Size | Rs 660 Lakhs |
| Tick Size | 1 |
Scarnose International IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Scarnose International IPO – Summary
Their company was established in the year 2011 as a Private Limited Company with the basic object of Trading of agriculture commodities. Till March 2019, there was no major business activity in the company.
However, after that they explored the opportunities in the cotton industry and looking at the bright prospects, they started business of trading of Raw Cotton, Cotton Bales, Yarn and manufacturing of Ladies Kurtis and Dress Materials through outsourcing model. Their company had started its business operation effectively from financial year 2019-20.
The Promoter of this company is Mr. SHAH VIMALKUMAR MISHRILAL AND Mr. HITESH LOONIA. The lead manager to the issue is FINSHORE MANAGEMENT SERVICES LIMITED, and the Registrar to this issue is CAMEO CORPORATE SERVICES LIMITED.
Scarnose International IPO Date
The opening and the closing date of Scarnose International IPO are Jun 14, 2022 and Jun 17, 2022 Respectively.
Scarnose International IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 14th Jun | 0.44x | 0.58x | 0.51x |
| 2nd Day – 15th Jun | 0.54x | 0.92x | 0.73x |
| 3rd Day – 16th Jun | 1.15x | 1.27x | 1.21x |
| 4th Day – 17th Jun | 2.09x | 2.34x | 2.22x |
| Shares Offered or Net Issue | 570,000 | 570,000 | 1,140,000 |
The shares subscribed by the public will be updated here.
Check Scarnose International IPO LIVE Subscription
- Scarnose International IPO LIVE Bid details on BSE
- Scarnose International IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
Scarnose International IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Scarnose International Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Jun 22, 2022 |
| Refunds Initiation | Jun 23, 2022 |
| Credit of Shares to Demat Account | Jun 24, 2022 |
| Share Listing Date | Jun 27, 2022 |
Scarnose International IPO Price
The face value of each share is Rs.10, but the price band of the IPO is Rs.55
Scarnose International IPO Size
This Initial Public Issue of 1,200,000 Equity Shares of Rs.10 each for cash at a price of Rs.55 per equity share aggregating to Rs.660 Lakhs.
Scarnose International IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 1,200,000 Equity Shares of Rs.10/ each.
Issue Size: 12,00,000 Equity Shares of Rs.10 each, aggregating to Rs.660 Lakhs
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Scarnose International IPO – Live Performance
The listing date of this IPO is Jun 27, 2022. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Scarnose International Share Price |
Scarnose International IPO Grey Market Premium
The Scarnose International Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Scarnose International IPO – Company Overview
Their Company procures cotton bales from different ginners (A person who operates a Cotton gin i.e., a Cotton engine which quickly and easily separates cotton fibers from their seeds enabling much greater productivity than manual cotton separation) where-by they provide them cotton in the form of bales.
The promoters had existing relationship with many mills and factories and tied up with them, wherein the Company sales cotton bales to them. Most of the clients of their Companies are ginners and cotton factories. They provide Cotton Bales in varied specifications and at economical prices.
Their Company is owned and managed by professionally qualified person namely Mr. Vimal Shah and Mr. Hitesh Loonia. Mr. Vimal Shah is one of the Promoter cum Managing Director of the Company and is a qualified Chartered Accountant and Cost Accountant and having experience of more than a decade in business and finance.
He looks towards overall business of the Company including procurement and selling of cotton bales, exploring new vendors and items
Scarnose International IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | |||
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Total Assets | 1242.25 | 457.8 | 1204.91 |
| Total Revenue | 9593.02 | 3255.72 | 1204.56 |
| Total Expense | 9536.12 | 3225.63 | 1200.81 |
| Profit After Tax | 33.42 | 22.51 | 2.81 |
Earnings per Equity Share (in Lakh)
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Basic & Diluted | 28.12 | 41.04 | 28.12 |
Further, their PAT for the period ended on March 31, 2022, March 31, 2021, and March 31, 2020 were Rs. 33.42, and Rs. 22.51 and Rs.2.81 respectively.
Scarnose International IPO – Promoters
The Promoter of this company is:
- Mr. SHAH VIMALKUMAR MISHRILAL
- Mr. HITESH LOONIA
List of Related Parties (Key Managerial Personnel)
- Shah Vimalkumar Mishrilal, Managing Director
- Dakshita Dadhich, Non-Executive Director
- Kunjal Jayantkumar Soni, Independent Director
- Hemal Patel, Independent Director
Scarnose International IPO – Promoters Holding
- Pre Issue Share Holding – 99.99%
- Pos Issue Share Holding – 61.90%
Scarnose International IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 12,00,000 Equity Shares aggregating up to Rs.660 Lakhs |
| of which: | |
| Issue Reserved for the Market Makers | Up to 60,000 Equity Shares aggregating up to Rs.33 Lakhs |
| Net Issue to the Public | Up to 11,40,000 Equity Shares aggregating up to Rs.627 Lakhs |
| Of which: | |
| Retail Investors Portion | Not less than 5,70,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 5,70,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 19,50,150 Equity Shares |
| Equity Shares outstanding after the Issue | 31,50,150 Equity Shares |
Scarnose International IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Purchase of Building for setting up of new manufacturing unit
2. Purchase of Plant & Machineries
3. Interior work for display centre and corporate office
4. To meet the working capital requirements
5. To meet the Issue Expenses
6. General Corporate Purposes
Scarnose International IPO – Business Strategy
- Focus on Increase in Volume of Sales
- Creativity and trending designer idea
- Reduction of operational costs and achieving efficiency
- Quality Assurance
- Leverage and enhance their goodwill in the market
- Leveraging their Market skills and Relationships
Scarnose International IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Established and proven track record;
- Leveraging the experience of their Promoters;
- Experienced management team and a motivated and efficient work force;
- Cordial relations with their customers
- Quality Assurance & Control
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 41.04 | 11.81 | 45.37 |
| 31-Mar-20 | 28.12 | 69.51 | – |
| Mar-19 | – | Nil | – |
Scarnose International IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total NAV (Rs.) | |
| Scarnose International Limited | 10 | 3.66 | 13.68 | 11.81 | 15.12 |
| Listed Peers | |||||
| Pioneer Embroideries Ltd | 10 | 8.40 | 7.40 | NA | 43.00 |
| Hisar Spinning Mills Ltd | 10 | 9.90 | 3.90 | NA | 34.30 |
| Dhanalaxmi Roto Spinners Ltd | 10 | 9.00 | 10.40 | NA | 55.70 |
| Vippy Spinpro Ltd | 10 | 19.00 | 6.60 | NA | 82.00 |
Scarnose International IPO Lead Managers
| Lead Managers |
| FINSHORE MANAGEMENT SERVICES LIMITED Anandlok Building, Block-A, 2nd Floor, Room No. 207, 227 A.J.C Bose Road, Kolkata-700020, West Bengal Telephone: 033 – 22895101 Email: ramakrishna@finshoregroup.com Contact Person: Mr. S. Ramakrishna Iyengar Website: www.finshoregroup.com Investor Grievance Email: info@finshoregroup.com SEBI Registration No: INM000012185 CIN No: U74900WB2011PLC169377 |
Scarnose International IPO Registrar to offer
| Registrar to the Offer |
| CAMEO CORPORATE SERVICES LIMITED “Subramanian Building”, #1, Club House Road, Chennai – 600 002, India Telephone: +91-44-40020700, 28460390 Facsimile: +91-44-28460129 Email: investor@cameoindia.com Contact Person: Mr. R.D. Ramasamy, Director Website: www.cameoindia.com SEBI Registration Number: INR000003753 CIN No: U67120TN1998PLC041613 |
Scarnose International IPO – Other Details
- Statutory Auditor – M/s. J S Maheshwari & Co., Chartered Accountants
- Legal Counsel to the Company – NA
- Bankers to the Company – NA
Scarnose International IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Scarnose International Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Scarnose International IPO Review FAQs
Ques – What is the Issue Size of Scarnose International IPO?
Answer – The Company is making an initial public offer of 12,00,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
Ques – What is the Issue Price of Scarnose IPO?
Answer – The price band for this particular IPO ranges between Rs 55. As far as the face value of the share is of concern, it is Rs.10 per share.
Ques – What is the Scarnose International IPO Open Date?
Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on Jun 14, 2022, while the closing date is set at Jun 17, 2022.
Ques – What is the Scarnose IPO Allotment Date?
Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Jun 22, 2022, refund initiation is on Jun 23, 2022, credit of shares is on Jun 24, 2022, and share listing date is on Jun 27, 2022.
Ques – What is the Scarnose International IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges Jun 27, 2022. The date, when the listing would be done, is stagnant on Jun 27, 2022.
Ques – Who is the Registrar of Scarnose International IPO?
Answer – One of the reputed registrars is managing the issue of this IPO, i.e. CAMEO CORPORATE SERVICES LIMITED. Their website will help you regarding the further information you are on the lookout for.
Ques – Who is the Promoter of Scarnose IPO?
Answer – Here are the promoters of this IPO – Mr. SHAH VIMALKUMAR MISHRILAL AND Mr. HITESH LOONIA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is GMP of Scarnose IPO?
Answer – They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Scarnose International IPO good for Investment?
Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of Scarnose International Company?
Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 20212 in Lakhs is 33.42, 2021 is 22.51 and 2020 2.81.
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