Kundan Edifice IPO Subscription Status

Kundan Edifice IPO subscription status started on September 12, 2023 and will close on September 15, 2023. Kundan Edifice IPO to raise around ₹25.22 crores via IPO. The retail quota is 50% and QIB/HNI is 50%. The price band is fixed at ₹36 per equity share.

Kundan Edifice IPO Subscription Status

Kundan Edifice IPO Investor Categories

• Qualified Institutional Buyers (QIB): Financial Institutions, Banks, FIIs, and Mutual Funds
• Non-Institutional Investors(NII): Individual Investors, NRIs, Companies, Trusts, etc.
• Retail Individual Investors (RII): Retail Individual Investors or NRIs
• Employee (EMP): Eligible Employees
• Others: Eligible Shareholders

Kundan Edifice IPO Review

Kundan Edifice is a Gujarat-based company that manufactures and distributes LED strip lights and undertakes electronics manufacturing services (EMS). The company was founded in 2014 and is headquartered in Ahmedabad.

The Kundan Edifice IPO is a fresh issue of 2,772,000 equity shares of face value ₹10 each. The issue is priced at ₹91 per share, with a face value discount of ₹9. The total proceeds from the IPO are estimated to be ₹25.22 crore.

The company’s financial performance has been on an upward trajectory in recent years. In FY20, the company’s revenue was ₹6.49 crore and its net profit was ₹0.04 crore. In FY21, the company’s revenue grew to ₹17.53 crore and its net profit grew to ₹2.28 crore. In FY22, the company’s revenue grew to ₹32.14 crore and its net profit grew to ₹3.44 crore. In FY23, the company’s revenue grew to ₹60.46 crore and its net profit grew to ₹5.13 crore.

The company’s growth is being driven by the increasing demand for LED strip lights in the country. LED strip lights are used in a variety of applications, including residential, commercial, and industrial. The company is also expanding its EMS business, which is expected to contribute to its future growth.

The Kundan Edifice IPO is open for subscription from September 13 to 15, 2023. The shares are expected to be listed on the NSE SME Exchange on September 21, 2023.

The issue is being managed by ICICI Securities and Axis Capital.

Here are some of the pros and cons of the Kundan Edifice IPO:

Pros:

• The company has a strong track record of financial performance.
• The LED strip light market is growing rapidly.
• The company is expanding its EMS business.

Cons:

• The company’s debt levels are high.
• The issue is priced at a premium to its peers.
• The company is a relatively new player in the market.

Overall, the Kundan Edifice IPO is a good option for investors who are looking to invest in the LED strip light market. However, the high debt levels and the premium pricing are some of the concerns that investors should keep in mind.

Here are some of the factors that investors should consider before investing in the Kundan Edifice IPO:

• The company’s financial performance: The company has a strong track record of financial performance, with revenue and net profit growing steadily in recent years.
• The LED strip light market: The LED strip light market is growing rapidly, and the company is well-positioned to capitalize on this growth.
• The company’s debt levels: The company’s debt levels are high, which could be a concern for investors.
• The issue pricing: The issue is priced at a premium to its peers, which could also be a concern for investors.
• The company’s management team: The company has a strong management team with a proven track record.

Investors should carefully consider all of these factors before making a decision about whether or not to invest in the Kundan Edifice IPO.

Kundan Edifice IPO Subscription Status FAQs