Karnika Industries IPO will open for subscription from 29 September 2023. The company aims for an issue size of ₹25.07 Cr through this IPO.
Company Overview
| Full name | Karnika Industries Limited |
| Sector | Textile |
| Industry | Textile |
| Company Website | http://www.karnikaindustries.com/ |
About Company
Karnika Industries is an ISO 14001:2015 certified manufacturer, trader, and exporter of garments. The company manufactures all types of kid’s wear i.e., shorts, joggers, capri, tees, rompers, sleepsuits, pajamas, winter wear, infant wear, etc. It has well-established capabilities in the areas of designing, manufacturing, preparation of samples, quality inspection, ironing, and packing of garments. Karnika Industries sells the products under the brand KARNIKA and sub-categories as KARNIKA Care, KARNIKA Cool, KARNIKA Cube, KARNIKA Life, KARNIKA Key, KARNIKA Club.
For the period from 13 April 2022 to 31 March 2023, the company’s total Income and restated profit after tax were INR 126.06 crores and INR 8.27 crores. For the period from 01 April 2022 to 12 April 2022, the company’s total income and restated profit after tax were INR 6.38 crore and INR 0.26 crore.
The Objectives of the Issue
- To Meet Working Capital Requirement.
- General Corporate Purpose.
- To Meet the Issue Expenses.
Karnika Industries IPO Timetable
| IPO Opening date | 29 September 2023 |
| IPO Closing | 04 October 2023 |
| Basis of Allotment | 09 October 2023 |
| Initiation Refund | 10 October 2023 |
| Credit to Demat Account | 11 October 2023 |
| Listing Date | 12 October 2023 |
Karnika Industries IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹25.07 Cr – 3,299,200 shares |
| Fresh Issue | ₹25.07 Cr – 3,299,200 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹76 per share |
| Lot size | 1600 Shares |
| Market Maker portion | 166,400 shares |
| Shareholding pre-issue | 9,100,300 |
| Shareholding post-issue | 12,399,500 |
| Listing Exchange | NSE SME |
Karnika Industries IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹121,600 |
| Retail (Max) | 1 | 1600 | ₹121,600 |
| HNI (Min) | 2 | 3,200 | ₹243,200 |
Karnika Industries IPO Reservation Details
| Other Shares Offered | 50% |
| Retail Shares Offered | 50% |
Karnika Industries Financial Performance
| FY 2021 | FY 2022 | 1 – 12 April 2022 | 13 Apr 2022 – 31 Mar 2023 | |
| Revenue | 47.46 | 98.81 | 6.37 | 124.59 |
| Expenses | 46.54 | 91.76 | 6.01 | 114.92 |
| Net income | 0.82 | 4.54 | 0.26 | 8.27 |
Karnika Industries Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.17 | 6.49 | 9.66 |
| PE ratio | – | – | 7.87 |
| RONW (%) | 21.58 | 24.40 | 45.76 |
| NAV | 10.80 | 53.17 | 19.85 |
| ROCE (%) | 52.99 | 52.01 | 91.90 |
| EBITDA (%) | 5.11 | 9.84 | 13.36 |
| Debt/Equity | 4.15 | 1.20 | 2.90 |
Karnika Industries Promoters
- Mr. Niranjan Mundhra
- Mr. Shiv Shankar Mundhra
- Mr. Mahesh Kumar
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.39% |
Karnika Industries IPO Lead Manager(s)
BEELINE CAPITAL ADVISORS PRIVATE LIMITED
B 1311-1314, Thirteenth Floor, Shilp Corporate Park,
Rajpath Rangoli Road, Thaltej, Ahmedabad- 380054
Phone: +91-79-48405357, 48406357
Email: mb@beelinemb.com
Website: www.beelinemb.com
Karnika Industries Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
A/506, Dattani Plaza, Andheri Kurla Road,
Safeed Pool, Andheri East, Mumbai – 400 072, Maharashtra
Phone: +91 22 2851 1022
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Karnika Industries Contact Details
KARNIKA INDUSTRIES LIMITED
6&6/1, Gurgola Ghat Road, P.O. Salkia,
Howrah, Howrah, West Bengal – 711106, India
Phone: 033-26558101
E-mail: info@karnikaindustries.com
Website: www.karnikaindustries.com
Karnika Industries IPO Allotment Status
Karnika Industries IPO allotment status will be available on Skyline Financial Services’ website. Click on this link to get allotment status.
Final thoughts
Karnika Industries IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
