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Kundan Edifice IPO is a fixed price issue of Rs 25.22 crores. The issue is entirely a fresh issue of 27.72 lakh shares.
Kundan Edifice IPO bidding started from September 12, 2023 and ended on September 15, 2023. The allotment for Kundan Edifice IPO was finalized on Thursday, September 21, 2023. The shares got listed on NSE SME on September 26, 2023.
Kundan Edifice IPO price is ₹91 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹109,200. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹218,400.
Fedex SecuritiesPvt Ltd is the book running lead manager of the Kundan Edifice IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Kundan Edifice IPO is Gretex Share Broking.
Refer to Kundan Edifice IPO RHP for detailed information.
| IPO Date | September 12, 2023 to September 15, 2023 |
| Listing Date | September 26, 2023 |
| Face Value | ₹10 per share |
| Price | ₹91 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 2,772,000 shares (aggregating up to ₹25.22 Cr) |
| Fresh Issue | 2,772,000 shares (aggregating up to ₹25.22 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 7,500,000 |
| Share holding post issue | 10,272,000 |
| Market Maker portion | 141,600 shares Gretex Share Broking |
Kundan Edifice IPO offers 2,772,000 shares. 1,315,200 (47.45%) to NII, 1,315,200 (47.45%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 141,600 (5.11%) |
| Other Shares Offered | 1,315,200 (47.45%) |
| Retail Shares Offered | 1,315,200 (47.45%) |
| Total Shares Offered | 2,772,000 (100%) |
Kundan Edifice IPO opens on September 12, 2023, and closes on September 15, 2023.
| IPO Open Date | Tuesday, September 12, 2023 |
| IPO Close Date | Friday, September 15, 2023 |
| Basis of Allotment | Thursday, September 21, 2023 |
| Initiation of Refunds | Friday, September 22, 2023 |
| Credit of Shares to Demat | Monday, September 25, 2023 |
| Listing Date | Tuesday, September 26, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 15, 2023 |
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹109,200 |
| Retail (Max) | 1 | 1200 | ₹109,200 |
| HNI (Min) | 2 | 2,400 | ₹218,400 |
| Lot Size Calculator | |||
Mr. Divyansh Mukesh Gupta and Mr. Vijaya Mukesh Gupta are the promoters of the company.
| Share Holding Pre Issue | 99.00% |
| Share Holding Post Issue | 72.28% |
Incorporated in 2010, Kundan Edifice Limited is engaged in the business of manufacturing, assembly, and sale of light-emitting diode ("LED") strip lights.
Kundan Edifice is primarily an original design manufacturer ("ODM") and design, develop, manufacture, and supply products to customers who then further distribute these products under their own brands. The company also provides custom products. Its product list includes HV Flex- High voltage flex, LV Flex- Low voltage flex, RGB LV Flex (Smart Lights), and Accessories Kit.
The company has two manufacturing and assembly facilities in the state of Maharashtra located in Vasai and Bhiwandi. As of August 31, 2023, Kundan employs over 311 employees in its manufacturing facilities, including contract workers.
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 846.60 | 1,185.44 | 1,928.14 | 2,965.84 |
| Revenue | 649.70 | 1,522.43 | 3,250.60 | 6,046.36 |
| Profit After Tax | 4.05 | 77.22 | 167.82 | 513.09 |
| Net Worth | 27.68 | 129.90 | 297.72 | 810.81 |
| Reserves and Surplus | -247.32 | -170.10 | -2.28 | 60.81 |
| Total Borrowing | 636.89 | 728.65 | 905.03 | 1,450.61 |
The market capitalization of Kundan Edifice IPO is Rs 93.48 Cr.
| KPI | Values |
|---|---|
| ROE | 63.28% |
| ROCE | 43.69% |
| Debt/Equity | 1.79 |
| RoNW | 63.28% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.84 | |
| P/E (x) | 13.3 | 18.2 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company is engaged in LED and EMS segments. It marked growth in its top and bottom lines for the reported periods, but the sudden boost in FY23 performance raises eyebrows and concerns over sustainability. The issue appears fully priced based on its concluded fiscal performance. Well-informed investors may park funds for the medium to long-term rewards. Read detail review...
The Kundan Edifice IPO is subscribed 42.27 times on September 15, 2023 7:29:00 PM. The public issue subscribed 44.13 times in the retail category, times in the QIB category, and 35.68 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 35.68 |
| Retail | 44.13 |
| Total | 42.27 |
Total Application : 48,370 (44.13 times)
| Listing Date | September 26, 2023 |
| BSE Script Code | |
| NSE Symbol | KEL |
| ISIN | INE0OWX01025 |
| Final Issue Price | ₹91 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹91.00 |
| ₹75.00 |
| ₹71.25 |
| ₹78.75 |
| ₹78.75 |
Kundan Edifice Limited
Gala A/ B, Ganesh Industrial Estate,
behind Burma Shell Petrol Pump,
Vasai East, Palghar - 401208
Phone: +91 7030919707
Email: cs@kundanedifice.com
Website: http://www.kundanedifice.com/index.php
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
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Kundan Edifice IPO is a SME IPO of 2,772,000 equity shares of the face value of ₹10 aggregating up to ₹25.22 Crores. The issue is priced at ₹91 per share. The minimum order quantity is 1200 Shares.
The IPO opens on September 12, 2023, and closes on September 15, 2023.
Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Kundan Edifice IPO using UPI as a payment gateway. Zerodha customers can apply in Kundan Edifice IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Kundan Edifice IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Kundan Edifice IPO opens on September 12, 2023 and closes on September 15, 2023.
Kundan Edifice IPO lot size is 1200 Shares, and the minimum amount required is ₹109,200.
You can apply in Kundan Edifice IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Kundan Edifice IPO will be done on Thursday, September 21, 2023, and the allotted shares will be credited to your demat account by Monday, September 25, 2023. Check the Kundan Edifice IPO allotment status.
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RHP
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Assuming Underwriting as 60% of Other Exp of 2.97 cr = 1.78 crore underwriting fees.
Loss to MM 1.43 crore.
Fair Deal?
What an open loot to all investors!