{"id":38501,"date":"2024-03-01T14:54:53","date_gmt":"2024-03-01T09:24:53","guid":{"rendered":"https:\/\/mint-money.in\/index.php\/2024\/03\/01\/shree-karni-fabcom-limited-ipo-opens-on-march-06-2024\/"},"modified":"2024-03-01T14:54:53","modified_gmt":"2024-03-01T09:24:53","slug":"shree-karni-fabcom-limited-ipo-opens-on-march-06-2024","status":"publish","type":"post","link":"https:\/\/mint-money.in\/index.php\/2024\/03\/01\/shree-karni-fabcom-limited-ipo-opens-on-march-06-2024\/","title":{"rendered":"Shree Karni Fabcom Limited IPO Opens on March 06, 2024"},"content":{"rendered":"
\n

L to R \u2013 Raj Kr. Agarwal, Rajiv Lakhotia, & Manoj Karnani \u2013 Directors of Shree Karni Fabcom Limited and Rajesh Sharma \u2013 Horizon Management Private Limited<\/em><\/p>\n

New Delhi [India], March 1<\/strong>: Shree Karni Fabcom Limited, one of the leading player in the manufacturing of specialized technical textiles, has announced its plan to go public with an Initial Public Offering on March 06, 2024. The company is aiming to raise \u20b9 42.49 Crore on upper price band through this IPO, with shares set to be listed on the NSE Emerge platform.<\/p>\n

The issue size is Up to 18,72,000 equity shares at face value of \u20b9 10 each.<\/p>\n

Equity Share Allocation<\/strong><\/p>\n

\u2013 QIB Anchor Portion \u2013 Up To 5,32,800 Equity Shares<\/p>\n

\u2013 Qualified Institutional Buyers (QIB) \u2013 Up To 3,55,800 Equity Shares<\/p>\n

\u2013 Non-Institutional Investors (NII) \u2013 Up To 2,67,000 Equity Shares<\/p>\n

\u2013 Retail Individual Investors (RII) \u2013 Up To 6,22,800 Equity Shares<\/p>\n

\u2013 Market Maker \u2013 Up To 93,600 Equity Shares<\/p>\n

The net proceeds from the IPO will be utilized for funding capital expenditure, including the setting up of a dyeing unit in Navsari District, Surat, Gujarat, and the purchase of new machinery proposed to be installed at a new unit for manufacturing bags in Palsana, Surat, Gujarat, with the intent to expand their product portfolio. Funds will also be allocated for meeting working capital requirements of the company and meeting general corporate expenses. The bidding for the Anchor portion will open on March 05, 2024, and the issue will close on March 11, 2024.<\/p>\n

The Book Running Lead Manager to the Issue is Horizon Management Private Limited. The Registrar to the Issue is MAS Services Limited.<\/p>\n

Key Highlights<\/strong><\/p>\n

\u2013 Issue Size \u2013 18,72,000 Equity Shares of \u20b9 10 each<\/p>\n

\u2013 Issue Size \u2013 \u20b9 41.18 Crores \u2013 \u20b9 42.49 Crores<\/p>\n

\u2013 Price Band \u2013 \u20b9 220 \u2013 \u20b9 227<\/p>\n

\u2013 Market Lot Size \u2013 600 Equity Shares<\/p>\n

Mr. Rajiv Lakhotia, Managing Director of Shree Karni Fabcom Limited, expressed, \u201cEmbarking on this momentous journey of taking Shree Karni Fabcom Limited public with our IPO fills us with immense pride and excitement. Our journey has been characterized by a relentless commitment to quality and innovation in the manufacturing of specialized technical textiles.<\/p>\n

We plan to allocate the proceeds towards funding capital expenditure, including the establishment of a state-of-the-art dyeing unit in Navsari District, Surat, Gujarat, as well as the acquisition of new machinery for our upcoming bag manufacturing unit in Palsana, Surat, Gujarat. Our commitment to excellence and innovation remains unwavering as we forge ahead in shaping the future of specialized technical textiles.\u201d<\/p>\n

Mr. Manav Goenka, Director of Horizon Management Private Limited, said, \u201cEntering a momentous phase in the journey for Shree Karni Fabcom Limited, this IPO signifies a remarkable leap towards new horizons. With a diversified product portfolio, the company has demonstrated its ability to meet the evolving needs of various industries. We are confident that Shree Karni Fabcom Limited\u2019s forward-thinking approach will enable it to seize emerging market opportunities and achieve continued success.\u201d<\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

L to R \u2013 Raj Kr. Agarwal, Rajiv Lakhotia, & Manoj Karnani \u2013 Directors of Shree Karni Fabcom Limited and Rajesh Sharma \u2013 Horizon Management […]<\/p>\n","protected":false},"author":3,"featured_media":38502,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[243,242],"class_list":["post-38501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release","tag-pr","tag-press-release"],"_links":{"self":[{"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/posts\/38501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/comments?post=38501"}],"version-history":[{"count":0,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/posts\/38501\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/media\/38502"}],"wp:attachment":[{"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/media?parent=38501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/categories?post=38501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/tags?post=38501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}