In this article you get to know insight about Karnika Industries Limited IPO Details. Founded in 2017, Karnika Industries Limited, previously known as Karni International, is your one-stop destination for fashionable children’s clothing in India. Karnika Industries specializes in creating and exporting a wide variety of kids’ wear. From comfy shorts and joggers to trendy capri pants, tees, adorable rompers, cozy sleepsuits, snug pajamas, warm winter wear, and cute infant clothing – we’ve got it all covered!
Our well-established manufacturing units are equipped with the latest high-tech machines and tools needed for modern garment production. From designing and crafting samples to rigorous quality checks, ironing, and meticulous packing – we take care of every detail. Discover the world of KARNIKA, where we offer a range of sub-brands or sub-categories to suit different tastes and needs:
KARNIKA Care
KARNIKA Cool
KARNIKA Cube
KARNIKA Life
KARNIKA Key
KARNIKA Club
With our diverse range of kids’ clothing and a commitment to quality, we cater to a variety of preferences within the children’s fashion market. Whether you’re in India or abroad, our products are designed to meet your little ones’ style and comfort needs.
Objects of the Issue
- Meeting Working Capital Requirement: One of the main reasons a company goes public through an IPO is to secure funds for its day-to-day operations. This includes covering expenses like paying employees, purchasing inventory, managing overhead costs, and dealing with any short-term financial needs. By raising capital from the public through the IPO, the company ensures it has enough money to keep its business running smoothly and seize growth opportunities.
- General Corporate Purpose: “General corporate purpose” is a broad category that encompasses various potential uses for the funds raised through an IPO. These funds can be allocated for a wide range of corporate needs, such as expanding the business into new markets, investing in research and development, acquiring other companies, repaying debts, or making strategic investments. It provides the company with flexibility in utilizing the capital to achieve its long-term goals and objectives.
- Meeting the Issue Expenses: When a company decides to go public, it incurs certain expenses associated with the IPO process. These expenses include underwriting fees, legal and accounting fees, regulatory compliance costs, and marketing expenses to promote the IPO to potential investors. The funds raised from the IPO can be used to cover these initial costs, ensuring a successful launch of the company’s stock in the public market.
Karnika Industries Limited IPO Details
| IPO Date | September 29, 2023 to October 4, 2023 |
| Face Value | ₹10 per share |
| Price | ₹76 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,299,200 shares (aggregating up to ₹25.07 Cr) |
| Fresh Issue | 3,299,200 shares (aggregating up to ₹25.07 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing | NSE SME |
| Share holding pre issue | 9,100,300 |
| Share holding post issue | 12,399,500 |
| Market Maker portion | 166,400 shares |
Karnika Industries Limited IPO Reservation
Other Shares Offered:
In an IPO, a portion of the shares is typically reserved for specific groups or investors. Here, “Other Shares Offered” refers to a portion of the shares that are made available to certain categories of investors or institutions. This allocation is usually a percentage of the total shares being offered to the public. In this case, it’s stated as 50% of the net offer.
Retail Shares Offered:
“Retail Shares Offered” is another portion of the shares in the IPO, and it is specifically earmarked for individual retail investors. Retail investors are everyday people who buy stocks for their personal investment portfolios. This allocation also represents a percentage of the total shares available for purchase by the public, and here, it’s indicated as 50% of the net offer.
Karnika Industries Limited 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 Limited IPO Promoter Holding
Promoters:
The company’s promoters are individuals who founded or currently hold significant positions in the company. In this case, the promoters of the company are Mr. Niranjan Mundhra, Mr. Shiv Shankar Mundhra, and Mr. Mahesh Kumar Mundhra.
Share Holding Pre Issue (Before the IPO):
Before the company’s Initial Public Offering (IPO), the promoters collectively held 100.00% of the company’s shares. This means they owned all of the company’s shares, indicating full control and ownership.
Share Holding Post Issue (After the IPO):
Following the IPO, the promoters’ collective shareholding in the company has reduced to 73.39%. This means that after going public and issuing shares to the public, the promoters still retain ownership of a significant portion of the company, but they no longer hold 100% of the shares. The remaining shares have been sold to external investors as part of the IPO.
Karnika Industries Limited IPO Tentative Dates
| IPO Open Date | Friday, September 29, 2023 |
| IPO Close Date | Wednesday, October 4, 2023 |
| Basis of Allotment | Monday, October 9, 2023 |
| Initiation of Refunds | Tuesday, October 10, 2023 |
| Credit of Shares to Demat | Wednesday, October 11, 2023 |
| Listing Date | Thursday, October 12, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 4, 2023 |
Karnika Industries IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com
FAQ
What is Karnika Industries IPO?
Karnika Industries IPO is a SME IPO of 3,299,200 equity shares of the face value of ₹10 aggregating up to ₹25.07 Crores. The issue is priced at ₹76 per share. The minimum order quantity is 1600 Shares. The IPO opens on September 29, 2023, and closes on October 4, 2023. Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
When Karnika Industries IPO will open?
The Karnika Industries IPO opens on September 29, 2023 and closes on October 4, 2023.
What is the lot size of Karnika Industries IPO?
Karnika Industries IPO lot size is 1600 Shares, and the minimum amount required is ₹121,600.
How to apply in Karnika Industries IPO through Zerodha?
Zerodha customers can apply online in Karnika Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Karnika Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
- Steps to apply in Karnika Industries IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘Karnika Industries IPO’ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
How to apply for Karnika Industries IPO?
You can apply in Karnika Industries IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account.
When is Karnika Industries IPO listing date?
The Karnika Industries IPO listing date is not yet announced. The tentative date of Karnika Industries IPO listing is Thursday, October 12, 2023.
What is the face value of Karnika Industries’ shares?
The face value of Karnika Industries’ shares is ₹10 per share.
What is the lot size for this IPO?
The lot size for this IPO is 1600 shares.
What type of IPO is this?This is a Fixed Price Issue IPO.