{"id":3784,"date":"2023-09-12T12:52:07","date_gmt":"2023-09-12T07:22:07","guid":{"rendered":"https:\/\/gwcindia.in\/blog\/\/?p=3784"},"modified":"2024-08-26T13:01:16","modified_gmt":"2024-08-26T07:31:16","slug":"ipo-kundan-edifice-limited","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/ipo-kundan-edifice-limited\/","title":{"rendered":"IPO : Kundan Edifice Limited"},"content":{"rendered":"

Kundan Edifice Limited IPO<\/h1>\n

Incorporated in 2010, Kundan Edifice Limited is engaged in the business of manufacturing, assembly, and sale of light-emitting diode (“LED”) strip lights.<\/p>\n

\n\n\n\n\n\n\n\n\n\n
\u00a0SYMBOL<\/strong><\/td>\nKEL<\/strong><\/td>\n<\/tr>\n
\u00a0ISSUE TYPE<\/strong><\/td>\nFixed Price Issue IPO<\/strong><\/td>\n<\/tr>\n
\u00a0ISSUE OPENS ON<\/strong><\/td>\nSeptember 12, 2023 (Tuesday)<\/strong><\/td>\n<\/tr>\n
\u00a0ISSUE CLOSES ON<\/strong><\/td>\nSeptember 15, 2023 (Friday)<\/strong><\/td>\n<\/tr>\n
\u00a0ISSUE PRICE<\/strong><\/td>\nRs.91 per share<\/strong><\/td>\n<\/tr>\n
\u00a0ISSUE SIZE<\/strong><\/td>\nUp to Rs.25.22 Crores<\/strong><\/td>\n<\/tr>\n
\u00a0FACE VALUE<\/strong><\/td>\nRs.10 per share<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Kundan Edifice is primarily an original design manufacturer (“ODM”) and design, develop, manufacture, and supply products to customers who then further distribute these products under their own brands. The company also provides custom products. Its product list includes HV Flex- High voltage flex, LV Flex- Low voltage flex, RGB LV Flex (Smart Lights), and Accessories Kit.<\/p>\n\n\n\n\n\n\n\n\n\n
\u00a0MINIMUM BID<\/strong><\/td>\n1200 shares<\/strong><\/td>\n<\/tr>\n
\u00a0MINIMUM AMOUNT\u00a0<\/strong><\/td>\nRs.1,09,200<\/strong><\/td>\n<\/tr>\n
\u00a0MAXIMUM BID<\/strong><\/td>\n1200 shares<\/strong><\/td>\n<\/tr>\n
\u00a0MAXIMUM AMOUNT\u00a0<\/strong><\/td>\nRs.1,09,200<\/strong><\/td>\n<\/tr>\n
\u00a0PROMOTER HOLDING<\/strong><\/td>\n72.28 % (Post-issue)<\/strong><\/td>\n<\/tr>\n
\u00a0LISTING DATE<\/strong><\/td>\nSeptember 26,2023 (Tuesday)<\/strong><\/td>\n<\/tr>\n
\u00a0LISTING AT<\/strong><\/td>\nNSE-SME<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The company has two manufacturing and assembly facilities in the state of Maharashtra located in Vasai and Bhiwandi. As of August 31, 2023, Kundan employs over 311 employees in its manufacturing facilities, including contract workers.<\/p>\n

\n

Objects of the Issue<\/h2>\n

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:<\/p>\n

    \n
  1. Meeting incremental working capital requirements; and<\/li>\n
  2. General corporate purposes.<\/li>\n<\/ol>\n<\/div>\n
    \n