Madhur Knit Crafts SME IPO
Madhur Knit Crafts IPO — date, price band, GMP & allotment 2026
Madhur Knit Crafts Limited is a textile company making home furnishing products and knitted and crocheted fabrics. Running since 1997, its range covers acrylic, woollen, printed and designer blankets, mink blankets, anti-pilling fabric and sherpa fabric, sold through dealers in India and also exported.
Stock price
Madhur Knit Crafts 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 16 September.
- Open 24 Aug 2026
- Close 27 Aug 2026
- Allotment 28 Aug 2026
- Refund/credit 31 Aug 2026
- Listing 01 Sep 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 24 to 27 Aug, 2026 |
|---|---|
| Price Band | ₹95 – ₹100 |
| Face Value | ₹10 |
| Lot Size | 1200 Shares |
| Issue Size | ₹53.27 Cr |
| Sale Type | Fresh capital only |
| Listing On | NSE SME |
| Registrar | Skyline Financial Services Private Limited |
| Min Investment | ₹ 2,40,000 |
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 1200 shares at the ₹100 cut-off. The SME retail application is a fixed 2 lots; HNI starts at 3.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 2 | 2,400 | ₹2,40,000 |
| Retail (max) | 2 | 2,400 | ₹2,40,000 |
| HNI (min) | 3 | 3,600 | ₹3,60,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 8
- 01Sales grew well in the last full year shown. Total income went from Rs 89.56 crore in FY2023 to Rs 108.41 crore in FY2024 and Rs 171.76 crore in FY2025.
- 02Profit improved sharply in FY2025, to Rs 11.03 crore from Rs 1.70 crore in FY2024 and Rs 0.90 crore in FY2023.
- 03The company does most processes in house, covering knitting, dyeing, printing, brushing, polishing, sueding and stentering, which gives better control on quality and delivery.
- 04Its machinery is imported from Korea, Taiwan and China, which supports a wide range of fabric processes.
- 05The product range is spread across blankets, anti-pilling fabric, knitted fabric and sherpa fabric rather than a single item.
- 06It sells both in India through dealers and in export markets.
- 07Net worth improved from Rs 14.54 crore in FY2023 to Rs 32.50 crore as on 30 June 2025.
- 08Rs 17.40 crore of the money is meant to repay borrowings, which would reduce the interest burden.
Risks · 8
- 01Debt is very high. Total borrowing was Rs 72.19 crore as on 30 June 2025 against a net worth of Rs 32.50 crore, which is more than twice the own funds, and it has risen every year from Rs 34.18 crore in FY2023.
- 02The objects of the issue do not add up. The stated amounts total about Rs 71 crore, including Rs 35.50 crore for general corporate purposes, against an issue of about Rs 53.27 crore at the upper band of Rs 100. This needs to be checked in the RHP.
- 03The financial data is old for an issue opening in August 2026. The latest period shown ends 30 June 2025 and is only a three month stub, so there is no recent full year to judge the company on.
- 04Blankets are a seasonal product. Most of the selling happens in the winter months, so sales and cash flow are bunched into a part of the year.
- 05Textiles is a heavily competitive business with many organised and unorganised makers, and blankets in particular compete largely on price.
- 06Yarn and acrylic fibre prices keep changing and a sharp rise cannot always be passed on to dealers.
- 07The pre issue and post issue promoter holding is not stated in the available data, so the extent of promoter dilution is not clear.
- 08This is an SME issue. One lot is 1,200 shares, which is Rs 1.20 lakh at the upper band of Rs 100, and SME shares usually trade in low volume after listing.
Three years of numbers
All figures in ₹ crore, as reported in the Madhur Knit Crafts offer document.
| Metric | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 140.76 | 122.59 | 90.60 | 64.59 |
| Total Income | 65.23 | 171.76 | 108.41 | 89.56 |
| Profit After Tax | 3.02 | 11.03 | 1.70 | 0.90 |
| EBITDA | 7.07 | 23.28 | 8.04 | 5.51 |
| NET Worth | 32.50 | 29.49 | 16.24 | 14.54 |
| Reserves and Surplus | 19.09 | 18.76 | 6.54 | 4.84 |
| Total Borrowing | 72.19 | 67.20 | 57.79 | 34.18 |
See how this IPO compares — view listing performance of all SME IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Madhur Knit Crafts RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Madhur Knit Crafts IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹7.19 |
| P/E Ratio (x) | 13.91 |
| Market Cap at Offer Price (₹ Cr) | ₹42.00 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹100 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹71.00 Cr of the issue is earmarked to named objects.
About the company
Its product range covers blankets of several kinds, including acrylic, woollen, printed and designer blankets, and mink blankets, which were its first product line when manufacturing began. It also makes anti-pilling fabric, which is treated so that small fibre balls do not form on the surface with washing and rubbing, knitted fabric made by interlooping yarn on circular or flat knitting machines, and sherpa fabric, which is made to feel and insulate like natural sheepskin.
The company sells in the Indian market through a dealer network and also exports. Its factory uses textile machinery imported from Korea, Taiwan and China, and handles knitting, dyeing, printing, brushing, polishing, sueding and stentering in house. As on 31 August 2025 it had 174 employees.
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The bankers & the filings
Who is running the book, and the documents this page is built from.
Company contact
Frequently asked
What is the GMP of Madhur Knit Crafts?
The current Grey Market Premium is ₹2, or 2.00% over the issue price.
What is the Madhur Knit Crafts IPO price band?
₹95 to ₹100, on a face value of ₹10.
When is the allotment?
The basis of allotment is 28 August 2026, with listing on 1 September 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Skyline Financial Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every SME and Mainboard 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.
