Karnika Industries produces a wide range of kids' wear, such as shorts, joggers, capris, tees, rompers, sleep suits, pyjamas, winter wear, and infant wear, through job work.
| Bidding Dates |
|---|
| 29 Sep 2023 - 04 Oct 2023 |
| Subscription |
|---|
| 2.96x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,21,600 | 1 | 1 | 1600 | 3.3 M | ₹76 | 73.39 % | ₹250.7 M | RHP DOC |
Karnika Industries IPO SUBSCRIPTION STATUS
05 Oct '23Karnika Industries IPO overall subscription rate was 2.96 times the total available shares
Karnika Industries IPO retail subscription rate was 2.77 times in the retail segment
Karnika Industries IPO non-institutional investor subscription rate was 3.16 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
05 Oct 2023 (Day 4) | 2.77x | 3.16x | - |
04 Oct 2023 (Day 3) | 0.85x | 0.63x | - |
03 Oct 2023 (Day 2) | 0.43x | 0.13x | - |
29 Sep 2023 (Day 1) | 0.15x | 0.09x | - |
Karnika Industries 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 | 85.2 | 1,319.6 | -132.0 | -142.0 | 13.4% |
| FY22 | 45.4 | 988.1 | -153.1 | -157.3 | 9.8% |
| FY21 | 8.2 | 474.6 | -56.0 | -58.7 | 5.1% |
Karnika Industries IPO SUBSCRIPTION STATUS DETAILS
Karnika Industries had 3.3 M shares on offer
Karnika Industries IPO offer price was ₹76
Karnika Industries IPO minimum Investment was ₹121600
Karnika Industries IPO issue size was ₹ 250.7 M
Karnika Industries had a minimum lot size of 1600 Shares per application
Karnika Industries NUMBER OF SHARES ON OFFER
Karnika Industries IPO IMPORTANT DATES
| Issue Open Date | 29 Sep 2023 |
| Issue close Date | 04 Oct 2023 |
| Allotment Date | 09 Oct 2023 |
| Refund Date | 10 Oct 2023 |
| Demat Account Credit Date | 11 Oct 2023 |
| Listing Date | 12 Oct 2023 |
| Listing on Exchange(s) | NSE |
| Karnika Industries Allotment Status | Exchange |
Karnika Industries IPO subscription opened on 29 Sep 2023, and closed on 04 Oct 2023
IPO allotment for Karnika Industries was finalized on Monday, 09 Oct 2023
IPO listing for Karnika Industries was on NSE on Thursday, 12 Oct 2023
Karnika Industries IPO LISTING GAINS
| Issue Price (adjusted) | 15.2 |
| Listing Open Price | 81.0 |
| Listing Close Price | 82.6 |
| Listing Gain% | 6.6% |
| Current Gain% | 669.7% |
Karnika Industries 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Karnika Industries Ltd. | 117 | 145.1 | 27.2 | -0.4 | 2.9 | 28 | 14.1 | 233 | 32.2 | 26.7 | 48 | 4.3 | -70.4 |
| Lenskart Solutions Ltd. | 569.7 | 99054.9 | 200.7 | 11.2 | 5.6 | 3.4 | 8988.3 | 28.2 | 493.6 | 67 | 2.8 | ||
| Page Industries Ltd. | 39900 | 44504.1 | 58.3 | 12.2 | 8.5 | 50.8 | 26.7 | 5310.7 | 6.3 | 763.8 | 4.8 | 684.8 | 4.8 |
| Pearl Global Industries Ltd. | 2464.1 | 11381.8 | 36.7 | 1.5 | 2.1 | 19 | 8.6 | 5061.7 | 11.5 | 277.7 | 11.8 | 67.2 | 23.7 |
| Safari Industries (India) Ltd. | 1486.6 | 7267.4 | 44 | 4.1 | 3.4 | 15 | 11.6 | 2071.8 | 15.1 | 167.8 | 17.5 | 33.8 | 10.9 |
| Arvind Fashions Ltd. | 458.8 | 6132.7 | 51.3 | 0.1 | 1.1 | 13 | 2.9 | 5307 | 14 | 122.6 | 444.6 | 8.9 | 591.7 |
Karnika Industries INFORMATION ON IPO ISSUE
About Karnika Industries
Karnika Industries produces a wide range of kids' wear, such as shorts, joggers, capris, tees, rompers, sleep suits, pyjamas, winter wear, and infant wear, through job work.
Object of the Issue
- To meet working capital requirement
- General corporate purpose
- To meet the issue expenses
Karnika Industries - PROMOTERS
| Name |
|---|
| Niranjan Mundhra |
| Shiv Shankar Mundhra |
Karnika Industries Lead Manager to the Issue
Beeline Capital Advisors Private Limited
mb@beelinemb.com
Karnika Industries Registrar to the Issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
Karnika Industries Strengths
Diversified product portfolio
The company offers a diverse product portfolio to meet customer needs, manufacturing various types of kids' wear including shorts, joggers, capris, tees, rompers, sleep suits, pyjamas, winter wear, and infant wear
Cost-effective production
The company continually aims to implement an efficient procurement policy for production inputs, leading to cost-effective production
Scalable business model
The business model is order-driven, focusing on optimal use of manufacturing, processing, and trading facilities, maximum capacity utilization, and forming linkages with quality raw material suppliers to achieve economies of scale
Karnika Industries Risks
Outstanding legal proceedings
The company and its group company are involved in outstanding legal proceedings. An adverse outcome could significantly impact the business
Dependent on few customers
The top ten customers account for a majority of the company's operational revenues. Losing business from one or more of these customers could significantly affect revenues and profitability
Substantial outstanding indebtedness
As of March 31, 2023, the company's long-term borrowings stood at Rs 4.3 lakhs and short-term borrowings at Rs 52.4 crore. The company plans to incur additional debt in the future
IPO FAQs
Karnika Industries Ltd. IPO listing opened at Rs 81.00 while the issue price was Rs 76.00 giving 6.58% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 15.20 giving 669.74% gains since its IPO listing.
The promoters of the company are Niranjan Mundhra and Shiv Shankar Mundhra.
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 76.0 - 76.0.
The IPO application opens on Sep 29, 2023 and closes on Oct 04, 2023.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 121,600.0, the maximum value for this IPO is Rs 121,600.0.
This IPO will be allotted on Oct 09, 2023.
The refund will be credited to your account on Oct 10, 2023.
The allotted shares will be credited to your demat on Oct 11, 2023.
Karnika Industries Ltd.’s shares listed on the stock exchanges on Oct 12, 2023.