As the initial public offering (IPO) of Shree Karni Fabcom Ltd comes to a close on Monday, March 11, investors have shown an overwhelming interest, subscribing 88.36 times, surpassing expectations. The SME IPO, valued at Rs 42.49 crore, opened for public subscription on March 6, with a price band set at Rs 220-227 per share.
As of 11:22 am on the final day of bidding, the IPO has garnered bids for a staggering 11,00,60,400 shares against the 12,45,600 shares on offer. The retail quota witnessed an exceptional 142 times subscription, the non-institutional investor (NII) category reached 79.98 times, and the Qualified Institutional Buyer (QIB) category secured 0.75 times subscription.
The Shree Karni Fabcom IPO, consisting entirely of a fresh issue of 18.72 lakh shares, has a minimum lot size of 600 shares. The minimum investment for retail investors is Rs 1,36,200, while high net worth individuals (HNIs) need to invest a minimum of Rs 2,72,400 for two lots (1,200 shares).
The allotment for the IPO is scheduled for March 12, and it is set to be listed on the NSE SME on March 14, 2024.
Shree Karni Fabcom IPO GMP Today
In the grey market, unlisted shares of Shree Karni Fabcom Ltd are trading at a premium of Rs 250 compared to its issue price. This Rs 250 grey market premium (GMP) suggests an anticipated listing gain of 110.13%, indicating investors’ willingness to pay more than the issue price based on current market sentiments.
Shree Karni Fabcom IPO Details
Shree Karni Fabcom Limited, incorporated in March 2018, specializes in producing customized knitted and woven fabrics for diverse industries, including luggage, medical arch support, chairs, shoes, and apparel. The company focuses on Woven Fabrics, Knitted Fabrics, Coated Fabrics, and 100% polyester, sourcing yarn, resin, acrylic, and coating chemicals to manufacture specialized technical textiles.
The financial year 2022-23 witnessed an impressive 51.87% surge in revenue, accompanied by a 7.85% rise in profit after tax (PAT).
Horizon Management Private Limited acts as the book-running lead manager for the Shree Karni Fabcom IPO, with Mas Services Limited serving as the registrar. MLB Stock Broking is the market maker for the IPO.
