1 week ago
Madhur Knit Crafts IPO Sees 55% Subscription By Day Three
Madhur Knit Crafts is selling shares to the public through an IPO.
The IPO opened on 24 August and closes on 27 August.
By the third day, investors had bid for 55% of the shares available.
Retail investors subscribed to 81% of their reserved portion.
The grey market premium was ₹16, but this is only an informal market indication.
If it holds, the shares could list at about ₹116 instead of ₹100.
The company wants to use much of the money to repay loans and support its business.
It will also buy solar panels and use some funds for general expenses.
The shares are expected to begin trading on 1 September.
The Madhur Knit Crafts IPO is open from 24 August to 27 August, with a price band of ₹95–₹100 per share.
The issue was 55% subscribed by day three, including 81% retail, 25% NII and 1.01x QIB subscription.
The IPO’s grey market premium stood at ₹16, implying an estimated ₹116 listing price, or a 16% premium at the upper band.
The company plans to use proceeds for debt repayment, working capital, solar panels, general corporate purposes and issue expenses.
Allotment is expected on 28 August, refunds on 31 August and NSE SME listing on 1 September.
- Who
- Madhur Knit Crafts, investors, SKI Capital Services Ltd and Skyline Financial Services Pvt Ltd.
- What
- Madhur Knit Crafts is conducting an IPO of 53.28 lakh fresh equity shares.
- Where
- The shares are expected to list on the NSE SME platform.
- When
- The IPO runs from 24 August to 27 August; allotment is expected on 28 August, refunds on 31 August and listing on 1 September.
- Why
- The company plans to use the proceeds mainly for repaying borrowings, meeting working-capital needs and buying solar panels.
Key facts
- Price band
- ₹95–₹100 per equity share
- Lot size
- 1,200 shares, with bids accepted in multiples of 1,200
- Day-three subscription
- 55% overall; retail 81%, NII 25% and QIB 1.01x
- Grey market premium
- ₹16, indicating an estimated ₹116 listing price at the upper price band
- Issue size
- 53.28 lakh fresh equity shares
- Use of proceeds
- ₹20.85 crore for debt repayment, ₹15.92 crore for working capital and ₹3.68 crore for solar panels
- Recent financials
- For the 11 months ended 28 February 2026, total income was ₹194.79 crore and PAT was ₹12.35 crore
