Shree Karni Fabcom Limited (SKFL) will launch its IPO on March 06, 2024, with a price band between Rs. 220 and 227 per share.

A leading manufacturer of specialized technical textiles, Shree Karni Fabcom Limited, has announced its intention to go public on March 06, 2024. Through this IPO, the company aims to raise Rs 42.49 Crore on an upper price band, with shares set to be listed on the NSE Emerge exchange.

MUMBAI, FEBRUARY 29, 2024 (GPN) – Shree Karni Fabcom Limited, a leading company in the field of specialized technical textile manufacturing, has announced plans to go public for the first time on March 6, 2024.

The company aims to raise Rs 42. 49 Crore at a higher price through this IPO, with the shares to be listed on the NSE Emerge platform. 9,87, Maximum issue size is 18,72,000 shares of face value Rs 10 each. Equity Share Allocation 

QIB Anchor – Up to 5 32,800 Equity Shares

Qualified Institutional Buyer (QIB) – Up to 3 55,800 Equity Shares

House non-institutional investment (NII) – Up to 2,67,000 equity shares

Retail Individual Investor (RII) – Up to 6,22,800 equity shares

Market maker – Up to 93,600 equity shares

The proceeds from the IPO will be used to fund capital expenditure, including the establishment of a dyeing unit in Navsari district, Surat, Gujarat, and the purchase of newly acquired machines. proposed installation at a new bag manufacturing unit at Palsana, Surat, Gujarat, to expand their product portfolio.

 Funds will also be allocated to meet the business's working capital needs and cover general business expenses. The bidding for the Anchor portion will open on March 5, 2024, and the issue will close on March 11, 2024. The lead manager of the issue is Horizon Management Private Limited.

The issuing registration agency is MAS Services Limited. Rajiv Lakhotia, CEO, of Shree Karni Fabcom Limited, said: “Embarking on the momentous journey of taking Shree Karni Fabcom Limited public with an IPO fills us with great pride and enthusiasm. Our journey is characterized by an unwavering commitment to quality and innovation in the production of specialized technical textiles.

We intend to allocate the proceeds to fund capital expenditure, including establishing a modern dyeing unit in Navsari district, Surat, Gujarat, and acquiring new machinery for the manufacturing unit. Our upcoming out-of-pocket in Palsana, Surat, Gujarat.

Our commitment to excellence and innovation remains unchanged as we shape the future of specialty technical textiles. Manav Goenka, Director, Horizon Management Private Limited, said, “Entering a pivotal phase in Shree Karni Fabcom Limited's journey, this IPO marks a remarkable leap towards new horizons.

With its diverse product portfolio, the company has demonstrated its ability to meet the growing needs of various industries. We are confident that Shree Karni Fabcom Limited's forward-thinking approach will help the company capture opportunities in emerging markets and continue to achieve success. About Shree Karni Fabcom Limited: 

About Shree Karni Fabcom Limited:

Shree Karni Fabcom Limited is a famous company in manufacturing specialized technical textiles, serving many industries such as travel accessories, apparel, and decorative fabrics. interior decoration, etc. Their expertise extends to woven, knitted, and coated fabrics, especially 100% polyester materials.

Operating under the “SKFL” brand, they offer a wide range of products designed to meet a variety of needs, from luggage and vehicle covers to medical arch supports and raincoats. With the recent acquisition of a stake in IGK Technical Textile LLP, their capabilities have expanded significantly.

Committed to continuous innovation, they have plans to establish a dyeing facility and diversify into bag manufacturing. Through a robust B2B model, they engage with institutional manufacturers and traders across India, ensuring the supply of top-notch technical textiles to both domestic and international markets. 

In FY23, The Company Achieved a Revenue of Rs. 12,694. 65 L, EBITDA of Rs. 1,519. 16 L, & PAT of Rs. 555. 25 L. Ends.

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