Karda Constructions IPO
Karda Constructions IPO — date, price band, lot size & details 2018
Karda Constructions listed on 2 Apr 2018 at ₹136, 24.4% below the ₹180 issue price.
Karda Constructions is a Nashik based real estate developer building residential and residential cum office projects. Its total income was Rs 110.02 crore in FY2017.
Stock price
Karda Constructions is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 16 Mar 2018
- Close 21 Mar 2018
- Allotment 26 Mar 2018
- Refund/credit 27 Mar 2018
- Listing 02 Apr 2018
Issue summary
The terms of the offer, as filed.
| IPO Dates | 16 to 21 Mar, 2018 |
|---|---|
| Price Band | ₹175 – ₹180 |
| Face Value | ₹10 |
| Lot Size | 80 Shares |
| Issue Size | ₹77.4 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,400 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 80 shares at the ₹180 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 80 | ₹14,400 |
| Retail (max) | 13 | 1,040 | ₹1,87,200 |
| S-HNI (min) | 14 | 1,120 | ₹2,01,600 |
| S-HNI (max) | 69 | 5,520 | ₹9,93,600 |
| B-HNI (min) | 70 | 5,600 | ₹10,08,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 46.53 crore in FY2015 to Rs 110.02 crore in FY2017.
- 02Profit after tax rose from Rs 3.08 crore in FY2015 to Rs 8.03 crore in FY2017.
- 03It had completed 15 residential and office projects in Nashik.
- 04Rs 30.00 crore of the issue went to repaying overdraft and term loans.
Risks · 5
- 01Total borrowing was Rs 105.51 crore on 30 September 2017, about three times its net worth.
- 02It depends on a single city, Nashik, for all of its 15 completed projects.
- 03Real estate sales are cyclical and depend on approvals; total assets were Rs 263.02 crore.
- 04Rs 36.00 crore of the issue went to the promoter as offer for sale.
- 05The promoter held 100% before the issue and 65.04% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Karda Constructions offer document.
| Metric | 30 Sep 2017 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Assets | 263.02 | 248.54 | 249.61 | 233.05 |
| Total Income | 45.70 | 110.02 | 105.93 | 46.53 |
| Profit After Tax | 5.52 | 8.03 | 6.37 | 3.08 |
| NET Worth | 35.87 | 30.35 | 22.55 | 16.26 |
| Reserves and Surplus | 25.87 | 21.35 | 17.55 | 11.26 |
| Total Borrowing | 105.51 | 112.04 | 101.57 | 64.38 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹38.78 Cr of the issue is earmarked to named objects.
About the company
It develops and sells residential and residential cum office projects in Nashik.
It had completed and delivered 15 residential and office projects, including Hari Smruti, Hari Amantran, Hari Shrushti and Hari Kunj.
The IPO was Rs 77.4 crore, with Rs 41.40 crore of fresh issue and Rs 36.00 crore of offer for sale, at Rs 180, the top of the Rs 175 to Rs 180 band. The fresh money was for repaying overdraft and term loans.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Karda Constructions IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Aryaman Financial Services Limited
12 issues handled (10 mainboard, 2 SME)Best listing: Apollo Micro Systems (+69.1%). Weakest: Narmadesh Brass Industries (-3.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Karda Constructions?
The current Grey Market Premium is ₹17.5, or 10% over the issue price.
What is the Karda Constructions IPO price band?
₹175 to ₹180, on a face value of ₹10.
When is the allotment?
The basis of allotment is 26 March 2018, with listing on 2 April 2018.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
