Kundan Edifice was incorporated on August 12, 2010. The company initially entered the market in Fiscal 2014, focusing on the assembly and sale of lighting products. Over time, it has specialized its business operations in the manufacturing, assembly, and sale of light emitting diode (LED) strip lights
| Bidding Dates |
|---|
| 12 Sep 2023 - 15 Sep 2023 |
| Subscription |
|---|
| 37.92x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,09,200 | 1 | 1 | 1200 | 2.8 M | ₹91 | 73.01 % | ₹252.3 M | RHP DOC |
Kundan Edifice IPO SUBSCRIPTION STATUS
15 Sep '23Kundan Edifice IPO overall subscription rate was 37.92 times the total available shares
Kundan Edifice IPO retail subscription rate was 41.88 times in the retail segment
Kundan Edifice IPO non-institutional investor subscription rate was 33.95 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
15 Sep 2023 (Day 4) | 41.88x | 33.95x | - |
14 Sep 2023 (Day 3) | 15.35x | 3.04x | - |
13 Sep 2023 (Day 2) | 4.75x | 0.63x | - |
12 Sep 2023 (Day 1) | 1.83x | 0.22x | - |
Kundan Edifice FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY23 | 51.3 | 602.2 | -16.2 | -40.9 | 14.3% |
| FY22 | 16.8 | 324.7 | 20.7 | -13.5 | 8.6% |
| FY21 | 7.7 | 151.4 | 2.2 | -5.9 | 10.4% |
Kundan Edifice IPO SUBSCRIPTION STATUS DETAILS
Kundan Edifice had 2.8 M shares on offer
Kundan Edifice IPO offer price was ₹91
Kundan Edifice IPO minimum Investment was ₹109200
Kundan Edifice IPO issue size was ₹ 252.2 M
Kundan Edifice had a minimum lot size of 1200 Shares per application
Kundan Edifice NUMBER OF SHARES ON OFFER
Kundan Edifice IPO IMPORTANT DATES
| Issue Open Date | 12 Sep 2023 |
| Issue close Date | 15 Sep 2023 |
| Allotment Date | 21 Sep 2023 |
| Refund Date | 22 Sep 2023 |
| Demat Account Credit Date | 25 Sep 2023 |
| Listing Date | 26 Sep 2023 |
| Listing on Exchange(s) | NSE |
| Kundan Edifice Allotment Status | Exchange |
Kundan Edifice IPO subscription opened on 12 Sep 2023, and closed on 15 Sep 2023
IPO allotment for Kundan Edifice was finalized on Thursday, 21 Sep 2023
IPO listing for Kundan Edifice was on NSE on Tuesday, 26 Sep 2023
Kundan Edifice IPO LISTING GAINS
| Issue Price (adjusted) | 91.0 |
| Listing Open Price | 75.0 |
| Listing Close Price | 78.8 |
| Listing Gain% | -17.6% |
| Current Gain% | -10.4% |
Kundan Edifice Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Visdem Technosys Ltd. | 81.6 | 83.8 | 10.8 | -9.7 | 0.8 | 16.2 | 7.8 | 105.5 | 6.9 | 7.8 | -1.1 | 7.6 | -1.1 |
| Havells India Ltd. | 1285 | 80562 | 49.3 | 3.1 | 3.4 | 17.9 | 11.5 | 23022.2 | 4.3 | 1690.6 | 14.8 | 26.1 | 15.7 |
| Waaree Energies Ltd. | 2701 | 77694.6 | 20.4 | 0.3 | 2.6 | 25.7 | 12.3 | 27244.9 | 83.5 | 3711.3 | 98.7 | 132.7 | 72 |
| Apar Industries Ltd. | 16448 | 66094.1 | 55.9 | 1.6 | 2.7 | 18.1 | 7.1 | 22966.9 | 22.9 | 976.9 | 18.9 | 294 | 34 |
| Premier Energies Ltd. | 1044.1 | 47397.1 | 28.5 | 0.5 | 5.6 | 35 | 13.9 | 8025.9 | 20.7 | 1509.8 | 61.1 | 36.7 | 59.1 |
| Honeywell Automation India Ltd. | 38035 | 33628.6 | 61 | 7.9 | 7.2 | 11.8 | 8.4 | 4860.9 | 11.2 | 525 | 0.3 | 623.3 | 7.7 |
Kundan Edifice INFORMATION ON IPO ISSUE
About Kundan Edifice
Kundan Edifice was incorporated on August 12, 2010. The company initially entered the market in Fiscal 2014, focusing on the assembly and sale of lighting products. Over time, it has specialized its business operations in the manufacturing, assembly, and sale of light emitting diode (LED) strip lights
Object of the Issue
- Meeting incremental working capital requirements
- General corporate purposes
Kundan Edifice - PROMOTERS
| Name |
|---|
| Divyansh Mukesh Gupta |
| Vijaya Mukesh Gupta |
Kundan Edifice Lead Manager to the Issue
Fedex Securities Private Limited
mb@fedsec.in
Kundan Edifice Registrar to the issue
Cameo Corporate Services Limited
priya@cameoindia.com
Kundan Edifice Strengths
Long-term relationships with customers
The company has maintained relationships with five of its top ten customers for over three years. These long-term relationships, coupled with ongoing active engagements, enable it to effectively plan its capital expenditures and leverage economies of scale to its advantage
Well established manufacturing facility
The company manufactures a variety of LED strip lighting products for various industrial applications. The Bhiwandi facility, with a capacity of 180.00 lakhs meters per annum (MTPA), operates at around 80% capacity utilization. Similarly, the Vasai facility, with an installed capacity of 175.50 lakhs MTPA (excluding accessories), maintains an average utilization rate of 84%
Strong and consistent financial performance
The company's strong financial performance is driven by its presence in high-demand product segments, top-tier customer base in their respective industries, and a relentless focus on efficiency and productivity
Kundan Edifice Risks
Certain litigation and claims
The company and its group entities are currently involved in various legal proceedings and claims at different stages of adjudication across multiple courts and regulatory authorities. An unfavorable outcome in these legal matters could result in liabilities, penalties, and potentially harm the business
Dependent on key customers
The company relies heavily on specific key customers who contribute significantly to its revenue. Any disruption or loss of these customer relationships could potentially have a substantial adverse impact on the company's profitability and overall financial performance
Negative cash flows
The company has experienced negative cash flows from its operating and investing activities in previous years. Continual negative cash flow could potentially impact the company's growth and overall business operations
IPO FAQs
The promoters of the company are Divyansh Mukesh Gupta and Vijaya Mukesh Gupta.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 91.0 - 91.0.
The IPO application opens on Sep 12, 2023 and closes on Sep 15, 2023.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 109,200.0, the maximum value for this IPO is Rs 109,200.0.
This IPO will be allotted on Sep 21, 2023.
The refund will be credited to your account on Sep 22, 2023.
The allotted shares will be credited to your demat on Sep 25, 2023.
Kundan Edifice Ltd.’s shares listed on the stock exchanges on Sep 26, 2023.