K K Silk Mills IPO day 1: The initial public offering (IPO) of fabrics and garments manufacturer K K Silk Mills opened for public subscription on Wednesday, November 26. The BSE SME IPO is a fresh issue of 75 lakh shares to raise ₹28.50 crore.
The IPO is witnessing tepid buying interest, as by 1:35 pm on Wednesday, the issue had been subscribed by almost half a per cent. As per grey market sources, the latest grey market premium of K K Silk Mills indicated the SME stock could be listed at a premium.
K K Silk Mills IPO subscription status
By 1:35 PM on Wednesday, the issue had seen an overall subscription of 0.43 times, with the retail portion booked 0.79 times, and the segment reserved for NIIs subscribed to 0.11 times. QIB’s portion had not seen any subscription till that time.
K K Silk Mills IPO details
1. K K Silk Mills IPO GMP: According to market sources, the latest grey market premium (GMP) of K K Silk Mills shares was ₹7. The latest GMP indicates the stock could be listed at a premium of 18 per cent.
2. K K Silk Mills IPO date: The SME IPO opened for subscription on Wednesday, November 26, and will remain open until Friday, November 28.
3. K K Silk Mills IPO price: The price band of the public issue has been fixed at ₹36 to ₹38 per equity share.
4. K K Silk Mills IPO object: The company plans to raise ₹28.50 crore from the issue, which it will utilise for capital expenditure for plant and machinery, including installation, mechanical and electrical work. Some part of the net proceeds will be used to pay some borrowings and for general corporate purposes.
5. K K Silk Mills IPO lot size: Retail investors can bid for a minimum and maximum of 6,000 shares.
6. K K Silk Mills IPO reservation: Retail investors have been offered 35,28,000 shares, while as many as 35,25,000 shares have been reserved for NIIs. QIBs have been offered 72,000 shares.
7. K K Silk Mills IPO allotment date: The IPO is closing on Friday, November 28. So, the company is expected to finalise the share allotment on the next business day on Monday, December 1. Successful bidders can expect shares of the company in their demat accounts on Tuesday, December 2, and bidders who fail to get the allocation may get a refund on the same day.
8. K K Silk Mills IPO book-running lead manager and registrar: According to the issue’s Red Herring Prospectus (RHP), Axial Capital Pvt.Ltd is the book-running lead manager, and MUFG Intime India Pvt.Ltd is the registrar.
9. K K Silk Mills IPO listing: The IPO is proposed for listing on the BSE SME on Wednesday, December 3.
10. K K Silk Mills business overview: As per the RHP, K K Silk Mills manufactures fabrics as well as garments. It sells knitted fabrics to domestic and international garment manufacturers. It has approximately 5422 sq. mtrs. size area manufacturing plant located at Umbergaon, Valsad, Gujarat.
The company’s profit after tax (PAT) for FY23 was ₹1.1 crore, which rose to ₹2.3 crore in FY24 and to ₹4.7 crore in FY25.
Revenue from operations for FY23 was ₹188.81 crore. This increased to ₹190.54 crore in FY24 and to ₹220.77 crore in FY25.
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