Unlisted shares of Shree Karni Fabcom Ltd are trading Rs 250 higher in the grey market, expecting a 110.13 per cent listing gain from the public issue
Shree Karni Fabcom IPO: The initial public offering of Shree Karni Fabcom Ltd, which is going to be closed on Monday, March 11, has received a blockbuster response from investors. Till 11:22 am on the final day of bidding on Monday, the Rs 42.49-crore SME IPO has received a whopping 88.36 times subscription garnering bids for 11,00,60,400 shares as against 12,45,600 shares on offer.
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The Shree Karni Fabcom IPO was opened for public subscription on March 6. The price band has been fixed at Rs 220-227 apiece.
The retail quota has received 142 times subscription, while the non-institutional investor (NII) category has been subscribed 79.98 times. The QIB category received 0.75 times subscription.
The allotment of the Shree Karni Fabcom IPO will take place on March 12, while its listing will take place on the NSE SME on March 14, 2024.
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Shree Karni Fabcom IPO GMP Today
According to market observers, unlisted shares of Shree Karni Fabcom Ltd are trading Rs 250 higher in the grey market as compared with its issue price. The Rs 250 grey market premium or GMP means the grey market is expecting a 110.13 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Shree Karni Fabcom IPO Details
The Shree Karni Fabcom IPO is entirely a fresh issue of 18.72 lakh shares. The minimum lot size for an application is 600 shares.
The minimum amount of investment required by retail investors is Rs 1,36,200. The minimum lot size investment for a high networth individual (HNI) is 2 lots (1,200 shares) amounting to Rs 2,72,400.
Horizon Management Private Limited is the book-running lead manager of the Shree Karni Fabcom IPO, while Mas Services Limited is the registrar for the issue. The market maker for Shree Karni Fabcom IPO is MLB Stock Broking.
Shree Karni Fancom Limited, which was incorporated in March 2018, produces customised 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 100% polyester, and source yarn, resin, acrylic, and coating chemicals to produce specialized technical textiles.
Its revenue during the financial year 2022-23 jumped 51.87% and profit after tax (PAT) rose 7.85%.
