Skip to main content

Karda Constructions receives good investor response, IPO subscribes 2.54 times


The initial public offer (IPO) of Karda Constructions Limited, a Nasik based Karda Group Company, engaged in construction of residential complexes and infrastructure projects,  received good investor response despite negative sentiments in the equity markets. The IPO which was opened subscription from 16 March to 21 March 2018  to raise up to Rs. 77.40 crores, was oversubscribed by 2.54 times as per NSE Data on the last day.  The issue received bids for 10908560 shares against the total issue size of 43,00,000 shares,  The QIB portion was subscribed 1.55 times while NII (non-institutional investors) category got 3.44 times subscription. RII (retail institutional investors) was subscribed 2.01 times.

The issue comprises fresh issue of 23 lakh equity shares and offer for sale (OFS) of 20 lakh equity shares by the promoters. The price band for the issue has been fixed at Rs 175 to Rs 180 per share.
 
The shares of the company will list on BSE and NSE. The sole lead manager to this issue is Aryaman Financial Services Limited and Registrars to the issue is Bigshare Services Private Limited.

Company’s total income and net profit has increased from 43 cr & 2.7cr to Rs 110 cr and 8 cr respectively since FY2013.  Total income and net profit after tax as restated were L 4,328.65 lakhs and L 270.39 lakhs for the year ended March 31, 2013, L 5,907.39 lakhs and L 360.55 lakhs for the year ended March 31, 2014, L 4,653.44 lakhs and L 307.56 lakhs for the year ended March 31, 2015, L 10,593.47 lakhs and L 637.43 lakhs for the year ended March 31, 2016 and L 11,002.26 lakhs and L 803.14 lakhs for the year ended March 31, 2017, showing a CAGR of 19.57 % in profit after tax.

The Karda Group is a well-established Nashik based group having its presence in the construction industry for more than two decades. The group was founded by promoter Mr. Naresh Karda in year 1994. In the years following its inception the group concentrated on developing affordable housing in the residential segment and from year 2001 onwards, the group diversified into commercial segment. Karda Constructions Limited was incorporated in 2007 with a view to corporatize the group’s activities in the real estate sector. Company recently received “Mega Builder of the Year” award from Divya Marathi. 

Location: Mumbai, Maharashtra, India

Comments

Post a Comment

Popular posts from this blog

Country Delight Launches NMR-Tested Honey: The Gold Standard of Purity

  Country Delight continues strengthening its promise of delivering the best purity and quality by launching 100% Pure Farm Honey (NMR Tested) Country Delight, a trusted name in premium and natural essentials, has announced the launch of 100% Pure Farm Honey (NMR Tested). Country Delight’s Farm Honey is Nuclear Magnetic Resonance (NMR) tested by a certified lab in Germany, making it one of the most authentic and reliable kitchen ingredients available to Indian homes. It also undergoes rigorous testing on 36 quality parameters as per FSSAI standards, including physicochemical, antibiotic and microbial, to rule out the presence of added sugars. Honey is not just a natural sweetener; it is increasingly valued for its functional benefits. With Country Delight's NMR-tested honey, consumers can enjoy a product that supports wellness through its natural composition, which is rich in antioxidants and phytonutrients and offers advantages over refined sugars.  Adulteration with cheaper ...
Post a Comment
Read more

Prachay Capital’s Public Issue of Secured NCDs Lists on BSE Platform

Prachay Capital Limited, an RBI-registered Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC), has officially listed its Secured, Rated, Redeemable Non-Convertible Debentures (NCDs) on the BSE Limited, unlocking new investment opportunities. The company successfully closed its public issue with an impressive 106% subscription, highlighting strong investor confidence. The issue, which opened on February 28, 2025, aimed to raise Rs 50 crore (excluding the greenshoe option) and closed on March 13, 2025. This landmark listing reinforces Prachay Capital’s commitment to providing stable, high-yield investment opportunities in the fixed-income sector, even amid volatile equity market conditions. The BBB-/Stable-rated NCDs by CRISIL, offering an attractive 13% per annum return with monthly interest payouts, present a compelling option for investors seeking secure fixed-income avenues. The listing event was graced by Ketan Jantre, Head of Trading Operations, BSE; Giri...
Post a Comment
Read more

Prachay Capital’s Public Issue of Secured NCDs Fully Subscribed at 113.36%

Prachay Capital Limited, an RBI-registered Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC), has successfully closed its public issue of Secured, Rated, Redeemable Non-Convertible Debentures (NCDs) at 113.36% subscription, according to exchange data. The issue, which opened on February 28, 2025, on the Bombay Stock Exchange (BSE), aimed to raise Rs 50 crore (excluding the greenshoe option) and closed on March 13, 2025. With a BSE listing, this issue was open for subscription to retail investors, high-net-worth individuals (HNIs), institutional investors, and corporates. The maiden NCDs issue is scheduled to list on 24 March 2025.  Rated BBB-/Stable by CRISIL, these NCDs offer investors a 13% per annum return with monthly interest payouts, making them an attractive fixed-income opportunity. The proceeds will be deployed as per the company’s stated fund allocation plan. Fund Utilization: Minimum 75% for the purpose of onward lending, investments in current and...
Post a Comment
Read more