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IPO : Kundan Edifice Limited

 ISSUE TYPE Fixed Price Issue IPO
 ISSUE OPENS ON September 12, 2023 (Tuesday)
 ISSUE CLOSES ON September 15, 2023 (Friday)
 ISSUE PRICE Rs.91 per share
 ISSUE SIZE Up to Rs.25.22 Crores
 FACE VALUE Rs.10 per share

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

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.

 MINIMUM BID 1200 shares
 MINIMUM AMOUNT  Rs.1,09,200
 MAXIMUM BID 1200 shares
 MAXIMUM AMOUNT  Rs.1,09,200
 PROMOTER HOLDING 72.28 % (Post-issue)
 LISTING DATE September 26,2023 (Tuesday)

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.

Objects of the Issue

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  1. Meeting incremental working capital requirements; and
  2. General corporate purposes.
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