K K Silk Mills IPO Subscription Status; IPO Subscribed by 3.95 Times So Far on Final Day of Bidding

Mumbai, November 28: K K Silk Mills IPO continues to see strong demand on its last day of bidding. As of 1:53 PM, K K Silk Mills IPO has been subscribed by 3.95 times, receiving bids for 2,81,76,000 shares, against 71,25,000 shares on offer. Retail investors are leading the subscription and have subscribed to the issue by 6.98 times, bidding for 2,46,24,000 shares, against 35,28,000 shares on offer. Retail investors are followed by QIBs, with a subscription of 1.13 times, bidding for 81,000 shares, against 72,000 shares on offer. The lowest subscription comes from Non-Institutional Buyers at 0.98 times. They have bid for 34,71,000 shares, against 35,25,000 shares on offer.

K K Silk Mills is an Indian company that operates in the Textile and Garment manufacturing sector. It is a key manufacturer, exporter, and supplier of a wide variety of synthetic and cotton shirting fabrics and ready-made garments. The company was established in 1991, and is headquartered in Mumbai, Maharashtra.

K K Silk Mills IPO Key Details

The ₹28.50 crore K K Silk Mills IPO is entirely a fresh issue of 0.75 crore shares of ₹28.50 crore. K K Silk Mills’ IPO price band is set at ₹36 to ₹38 per share. The lot size is 3,000 shares per application, with the minimum investment amount required by a retail investor at ₹2,28,000 (6,000 shares) at the upper price band. The minimum lot size investment for HNI is 3 lots (9,000 shares), amounting to ₹3,42,000. Axial Capital Pvt.Ltd is the book running lead manager, and MUFG Intime India Pvt.Ltd is the registrar of the issue. The Market Maker of the company is Aftertrade Broking Pvt.Ltd.

K K Silk Mills IPO: Utilisation of Funds

K͏K ͏S͏ilk Mills͏ will utilise ₹3.1 cr͏ore from the IPO proceeds towards plant and͏ machinery purchases, in͏clud͏ing i͏nstal͏lation ͏and͏ nece͏ss͏ary mec͏hanical and electrical work. A further ₹17.86 crore will be used for re͏payment of͏ borrowings, wi͏th the ͏r͏emaining portion earmarked͏ for g͏en͏eral corpo͏rate pu͏rpose͏s.͏ ͏

What’s Next for K K Silk Mills IPO?

K K Silk Mills IPO has entered its last day of bidding, and is continuing to garner strong demand, even after being oversubscribed already. The K K Silk Mills IPO allotment status is expected to be finalised on December 1, with the company crediting shares and initiating refunds tentatively on December 2. The shares of the company are expected to list on the BSE SME on December 3. With a few hours left in the closure of its subscription window, the IPO is expected to be oversubscribed with a higher factor.

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