Shree Karni Fabcom IPO: The IPO of Shree Karni Fabcom Ltd, which will close on Monday, March 11, has received an overwhelming response from investors. Till 3:30 pm on the last day of bidding on Monday, the Rs 42.49-crore SME IPO has attracted a whopping 266.22 times subscription, garnering bids for 33,16,08,600 shares against 12,45,600 shares on offer.
Shree Karni Fabcom's IPO opened for public subscription on March 6. The price range has been set at Rs 220-227 per piece.
The retail quota was subscribed 304.13 times while the non-institutional investor (NII) category was subscribed 392.10 times. The QIB category received 105.41x subscriptions.
The allotment of Shree Karni Fabcom's IPO will take place on March 12, while the listing on NSE SME will take place on March 14, 2024.
Shree Karni Fabcom IPO GMP today
According to market observers, unlisted shares of Shree Karni Fabcom Ltd are trading Rs 255 higher than their issue price in the gray market. The gray market premium or GMP of Rs 255 means that the gray market expects a listing gain of 112.33 percent from the public issue. The GMP is based on market sentiment and is constantly changing.
“Gray market premium” indicates investors’ willingness to pay more than the issue price.
Shree Karni Fabcom IPO details
Shree Karni Fabcom's IPO is entirely a fresh issue of 18.72 lakh shares. The minimum lot size for registration is 600 shares.
The minimum investment amount required for retail investors is Rs 1,36,200. The minimum lot size investment for a High Net Worth Individual (HNI) is 2 lots (1,200 shares) worth Rs 2,72,400.
Horizon Management Private Limited is the underwriter of Shree Karni Fabcom's IPO while Mas Services Limited is the registrar for the issue. The market maker for Shree Karni Fabcom IPO is MLB Stock Broking.
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Established in March 2018, Shree Karni Fancom Limited produces customized knitted and woven fabrics for industries such as luggage, medical arch supports, chairs, footwear and apparel. They specialize in woven fabrics, knitted fabrics, coated fabrics and 100% polyester, sourcing yarn, resin, acrylic and coating chemicals to create specialty technical textiles.
Revenue increased by 51.87% and profit after tax (PAT) increased by 7.85% in FY2022-23.
Mohammad HarisHaris is Deputy News Editor (Business) at news18.com. He writes on various topics…Read more
first published: March 11, 2024, 11:33 IST
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