Scarnose International was incorporated on April 12, 2011, as “Chordia Agro Products Private Limited". The company is in the business of trading raw cotton, cotton bales, and arn and has also diversified into the manufacturing of women Kurtis and dress materials through an outsourcing model.
| Bidding Dates |
|---|
| 14 Jun 2022 - 17 Jun 2022 |
| Subscription |
|---|
| 2.22x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,10,000 | 1 | 1 | 2000 | 1.2 M | ₹55 | 61.9 % | ₹66.0 M | RHP DOC |
Scarnose Intl IPO SUBSCRIPTION STATUS
17 Jun '22Scarnose Intl IPO overall subscription rate was 2.22 times the total available shares
Scarnose Intl IPO retail subscription rate was 2.34 times in the retail segment
Scarnose Intl IPO non-institutional investor subscription rate was 2.09 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
17 Jun 2022 (Day 4) | 2.34x | 2.09x | - |
16 Jun 2022 (Day 3) | 1.27x | 1.15x | - |
15 Jun 2022 (Day 2) | 0.92x | 0.54x | - |
14 Jun 2022 (Day 1) | 0.58x | 0.44x | - |
Scarnose Intl 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 |
| FY22 | 3.3 | 956.4 | -24.0 | -31.6 | 0.59% |
| FY21 | 2.2 | 325.4 | -7.7 | -7.7 | 0.92% |
| FY20 | 0.2 | 120.4 | -0.1 | -0.1 | 0.31% |
Scarnose Intl IPO SUBSCRIPTION STATUS DETAILS
Scarnose Intl had 1.2 M shares on offer
Scarnose Intl IPO offer price was ₹55
Scarnose Intl IPO minimum Investment was ₹110000
Scarnose Intl IPO issue size was ₹ 66.0 M
Scarnose Intl had a minimum lot size of 2000 Shares per application
Scarnose Intl NUMBER OF SHARES ON OFFER
Scarnose Intl IPO IMPORTANT DATES
| Issue Open Date | 14 Jun 2022 |
| Issue close Date | 17 Jun 2022 |
| Allotment Date | 22 Jun 2022 |
| Refund Date | 23 Jun 2022 |
| Demat Account Credit Date | 24 Jun 2022 |
| Listing Date | 27 Jun 2022 |
| Listing on Exchange(s) | BSE |
| Scarnose Intl Allotment Status | Exchange |
Scarnose Intl IPO subscription opened on 14 Jun 2022, and closed on 17 Jun 2022
IPO allotment for Scarnose Intl was finalized on Wednesday, 22 Jun 2022
IPO listing for Scarnose Intl was on BSE on Monday, 27 Jun 2022
Scarnose Intl IPO LISTING GAINS
| Issue Price (adjusted) | 55.0 |
| Listing Open Price | 55.5 |
| Listing Close Price | 56.0 |
| Listing Gain% | 0.9% |
| Current Gain% | -27.4% |
Scarnose Intl 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scarnose International Ltd. | 40 | 12.6 | 1878.2 | -19.5 | 1.2 | 0.1 | 0.1 | 10.3 | -16.2 | 0 | -96.5 | 0 | -96.5 |
| KPR Mill Ltd. | 1076.7 | 36803.1 | 42.5 | 6.7 | 5.5 | 15.2 | 12.7 | 6784.3 | 5 | 866.5 | 6.3 | 25.4 | 6.3 |
| Vardhman Textiles Ltd. | 606.8 | 17563.9 | 20.7 | -43.8 | 1.7 | 7.1 | 5.4 | 10092.5 | -0.3 | 745.2 | -15.6 | 29.3 | -0.5 |
| Welspun Living Ltd. | 164.1 | 15738.7 | 77 | -1.1 | 1.7 | 4.2 | 2 | 9467.9 | -11.5 | 204.4 | -68 | 2.1 | -68 |
| Arvind Ltd. | 560.6 | 15249.2 | 36.8 | 2.2 | 1.6 | 10.2 | 4.7 | 9359.5 | 11.5 | 413.9 | 17.1 | 15.2 | 17.1 |
| Trident Ltd. | 25.2 | 12831.6 | 32.5 | -3.5 | 1.9 | 7.9 | 5 | 6775.2 | -3.9 | 377.1 | 2 | 0.8 | -9.4 |
Scarnose Intl INFORMATION ON IPO ISSUE
About Scarnose Intl
Scarnose International was incorporated on April 12, 2011, as “Chordia Agro Products Private Limited". The company is in the business of trading raw cotton, cotton bales, and arn and has also diversified into the manufacturing of women Kurtis and dress materials through an outsourcing model.
Object of the Issue
- To meet the working capital requirements.
- To make the repayment of Unsecured Loan.
- To meet the Issue Expenses.
- General Corporate Purposes.
Scarnose Intl - PROMOTERS
| Name |
|---|
| Shah Vimalkumar Mishrilal |
| Hitesh Loonia |
Scarnose Intl Lead Manager
Finshore Management Services Limited
ramakrishna@finshoregroup.com
Scarnose Intl Registrar to the issue
Cameo Corporate Services Limited
investor@cameoindia.com
Scarnose Intl Strengths
Management and team
Rich management experience and skilled team
Organizational structure
Well-defined organizational structure
Existing supplier relationship
Existing supplier relationship protects the business in terms of supply pricing of the products and services, quality of the products and services offered, etc.
Quality policy
The company ensures customer satisfaction by implementing and continually improving the management system, adhering to timelines and schedules, being cost-competitive, etc.
Customer Centric
Customer-centric business model. The company focuses on attaining the highest level of customer satisfaction.
Scarnose Intl Risks
Dependent on few customers and suppliers
The business is dependent on few customers. The company is also dependent on a few suppliers for the raw materials.
Outsourcing manufacturing
Manufacturing of kurtis and dress materials is outsourced.
Negative cash flow
The company had negative cash flow in recent financial years
Seasonal business
The business is seasonal in nature in the domestic market, with it peaking during festivals and other important functions.
IPO FAQs
The promoters of the company are Shah Vimalkumar Mishrilal and Hitesh Loonia.
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 55.0 - 55.0.
The IPO application opens on Jun 14, 2022 and closes on Jun 17, 2022.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 110,000.0, the maximum value for this IPO is Rs 110,000.0.
This IPO will be allotted on Jun 22, 2022.
The refund will be credited to your account on Jun 23, 2022.
The allotted shares will be credited to your demat on Jun 24, 2022.
Scarnose International Ltd.’s shares listed on the stock exchanges on Jun 27, 2022.