Kundan Edifice IPO will open for subscription from 12 September 2023. The company aims for an issue size of ₹25.23 Cr through this IPO.
Company Overview
| Full name | Kundan Edifice Limited |
| Sector | Capital Goods |
| Industry | Electric Equipments |
| Company Website | http://www.kundanedifice.com/ |
About Company
Incorporated in 2010, Kundan Edifice is engaged in the business operations of manufacturing, assembly, and sale of light-emitting diode (“LED”) strip lights. It is primarily an original design manufacturer (“ODM”) and design, develops, manufacture, and supply products to customers who then further distribute these products under their own brands. The company also works with the customers to develop, manufacture, and supply products that are designed by customers.
The company products list includes HV Flex- High voltage flex, LV Flex- Low voltage flex, RGB LV Flex (Smart Lights), and Accessories Kit. The company has two manufacturing and assembly facilities in the state of Maharashtra located in Vasai and Bhiwandi. As of 30 April 2023, Kundan Edifice employs over 277 employees in its manufacturing facilities, including contract workers.
Kundan Edifice has over 6 years of experience in the electronics manufacturing services (EMS) sector. In the nine months period ended 31 December 2022 and FY 2022, 2021, and 2020, it derived approximately 45.20%, 65.31%, 62.27%, and 36.68% respectively, of its restated revenues from operations from repeat customers (defined as customers from which it has had revenues in the past three fiscal years). In FY 2022, the company enjoyed relationships of over three years with 5 out of these top ten customers.
The Objective of the Issue
- Meeting incremental working capital requirements,
- General corporate purposes.
IPO Timetable
| IPO Opening date | 12 September 2023 |
| IPO Closing | 15 September 2023 |
| Basis of Allotment | 21 September 2023 |
| Initiation Refund | 22 September 2023 |
| Credit to Demat Account | 25 September 2023 |
| Listing Date | 26 September 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹25.23 crore – 27,72,000 shares |
| Fresh Issue | ₹25.23 crore – 27,72,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹91 per share |
| Lot size | 1200 Shares |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹109,200 |
| Retail (Max) | 1 | 1200 | ₹109,200 |
| HNI (Min) | 2 | 2,400 | ₹218,400 |
Reservation Details
| Retail Shares Offered | 50% |
| Other Shares Offered | 50% |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 15.14 | 32.47 | 60.22 |
| Expenses | 14.41 | 30.76 | 53.48 |
| Net income | 0.77 | 1.68 | 5.13 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.06 | 2.24 | 6.84 |
| PE ratio | – | – | 13.30 |
| RONW (%) | 59.45 | 56.37 | 63.28 |
| NAV | 1.78 | 3.97 | 10.81 |
| ROCE (%) | 16.40 | 20.41 | 43.69 |
| EBITDA (%) | 10.42 | 8.57 | 14.32 |
| Debt/Equity | 5.61 | 3.04 | 1.79 |
Company Promoters
- Divyansh Mukesh Gupta
- Vijaya Mukesh Gupta
Promoter Holding
| Pre Issue Share Holding | – |
| Post Issue Share Holding | – |
Lead Manager(s)
FEDEX SECURITIES PRIVATE LIMITED
B 7, 3rd Floor, Jay Chambers, Dayaldas Road,
Vile Parle – [East], Mumbai – 400 057, Maharashtra
Phone: +91 81049 85249
Email: mb@fedsec.in
Website: www.fedsec.in
IPO Registrar
CAMEO CORPORATE SERVICES LIMITED
No. 01, Club House Road, Mount Road,
Chennai – 600 002, Tamil Nadu
Phone: 044 4002 0700
Email: investor@cameoindia.com
Website: www.cameoindia.com
Contact Details
KUNDAN EDIFICE LIMITED
Gala A/ B, Ganesh Industrial Estate, behind Burma Shell Petrol Pump,
Vasai East, Palghar – 401208, Maharashtra, India
Phone: +91 7030919707
E-mail: cs@kundanedifice.com
Website: www.kundanedifice.com
Allotment Status
Kundan Edifice IPO allotment status will be available on Cameo Corporate Services’ website. Click on Cameo Corporate Services weblink to get allotment status.
Final thoughts
Kundan Edifice 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
