Shree Karni Fabcom Limited has announced its plan to go public with an IPO on March 06, 2024. The company is aiming to raise Rs 42.49 Crore on upper price band, with shares set to be listed on the NSE Emerge platform. The issue size is Up to 18,72,000 equity shares at face value of Rs 10 each. The bidding for the Anchor portion will open on March 05, 2024, and the issue will close on March 11, 2024.
The net proceeds from the IPO will be utilized for funding capital expenditure, including the setting up of a dyeing unit in Navsari District, Surat, Gujarat, and the purchase of new machinery proposed to be installed at a new unit for manufacturing bags in Palsana, Surat, Gujarat, with the intent to expand their product portfolio. Funds will also be allocated for meeting working capital requirements of the company and meeting general corporate expenses.
Shree Karni Fabcom Limited is a renowned player in the manufacturing of specialized technical textiles, serving diverse industries such as travel accessories, apparel, upholstery, and more. Their expertise spans woven, knitted, and coated fabrics, with a focus on 100% polyester materials. Operating under the brand ‘SKFL’, they offer a wide range of products tailored to meet various needs, from luggage and vehicle covers to medical arch supports and raincoats. With 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.
