Shree Karni Fabcom IPO: Issue subscribed over 14.93 times on Day 1, check GMP, and other details
Shree Karni Fabcom IPO: Small and medium enterprise (SME) Shree Karni Fabcom initial public offerings (IPO) opened for subscription on March 6 and will on March 11. Shree Karni Fancom Limited produces customized knitted and woven fabrics for industries such as luggage, medical arch support, chairs, shoes, and apparel. They specialize in Woven Fabrics, Knitted Fabrics, Coated Fabrics, and polyester, and source yarn, resin, acrylic, and coating chemicals to produce specialized technical textiles.
Shree Karni Fabcom Limited's revenue increased by 51.87% and profit after tax (PAT) rose by 7.85% in FY23. Also read: Gopal Snacks IPO: Issue subscribed 56% on day 1, retail portion booked 89%; check GMP The Shree Karni Fabcom IPO was subscribed over 14.93 times on the first day of bidding on March 6. According to data available on NSE, the SME IPO received 2,00,00,400 share applications against offered 13,39,200 shares on the first day.
The retail category received 1,70,74,200 applications, whereas, QIB and NII categories obtained 13,800 and 29,12,400 applications on the first day of subscription. Shree Karni Fabcom IPO is a book built issue of ₹42.49 crores. The issue is entirely a fresh issue of 18.72 lakh shares.
The price band of the SME IPO has been set at ₹220 to ₹227 per share. Investors can bid for a minimum of 600 shares and in multiples thereof. The minimum amount of investment required by retail investors is ₹136,200.
The allotment for the Shree Karni Fabcom IPO is expected to be finalized on Tuesday, March 12, 2024 and will list on NSE SME with tentative listing date fixed as Thursday, March 14, 2024. The SME company had raised ₹12.09 crore from anchor investors on March 5, a day before it opened for bidding. Also
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