How To Check Shree Karni Fabcom IPO Allotment Status

The Shree Karni Fabcom IPO has garnered an overwhelming response from investors. On the final day of bidding, the ₹42.49-crore SME IPO witnessed a remarkable 266.22 times subscription, attracting bids for 33.16 crore shares against the 12.45 lakh shares on offer.

If you applied for the IPO, here is how you can check the Shree Karni Fabcom IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Shree Karni IPO allotment status

1. Visit the registrar's website.
2. Click on "Company Selection" and choose "Shree Karni Fabcom" from the dropdown menu.
3. Then you can enter your PAN, application number, or Demat.
4. Enter the captcha and click Submit to retrieve the Shree Karni IPO allotment status

If all the details are entered correctly and the allotment has been finalised, the Shree Karni Fabcom IPO allotment status will be visible.

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Shree Karni Fabcom IPO Details

Commencing on March 6, the Shree Karni Fabcom IPO features a price band fixed at ₹220-227 per share.

The retail quota recorded a subscription of 304.13 times, while the non-institutional investor (NII) category witnessed a subscription of 392.10 times. Meanwhile, the Qualified Institutional Buyer (QIB) category observed a subscription of 105.41 times.

The allotment of the Shree Karni Fabcom IPO is scheduled for March 12, with its listing slated for March 14, 2024, on the NSE SME platform.

Grey Market Premium: Market observers have noted that unlisted shares of Shree Karni Fabcom Ltd are trading at a premium of ₹255 in the grey market compared to its issue price. This translates to a 112.33% listing gain, indicative of investors’ anticipation.

The IPO of Shree Karni Fabcom entails an entirely fresh issue of 18.72 lakh shares, with the minimum lot size set at 600 shares.

Retail investors were required to make a minimum investment of ₹1.36 lakhs, while the minimum lot size investment for High Networth Individuals (HNIs) stands at 2 lots (1,200 shares), amounting to ₹2.72 lakh.

Company History: Shree Karni Fancom Limited, incorporated in March 2018, specialises in producing customised knitted and woven fabrics for various industries, including luggage, medical arch support, chairs, shoes, and apparel. They focus on woven fabrics, knitted fabrics, coated fabrics, and 100% polyester, sourcing yarn, resin, acrylic, and coating chemicals to manufacture specialized technical textiles.

During the financial year 2022-23, the company witnessed a significant revenue surge of 51.87% and a corresponding increase of 7.85% in profit after tax (PAT).

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