Madhur Knit Crafts IPO Day 3 Subscription Status: Issue Subscribed 0.48x, QIB Crosses 1x

Mumbai, August 26: The Madhur Knit Crafts IPO continued to see a gradual pickup in demand on the third day of bidding, but the issue is still some distance away from full subscription. The ₹53.27 crore IPO was subscribed 0.48 times as of 10:34 AM on August 26, according to the latest subscription figures.

Investors had placed bids for 22,71,600 shares against 47,58,000 shares offered to the public. Based on the upper end of the ₹95-₹100 price band, the total value of bids stood at around ₹22.72 crore. The issue had received 665 applications at the time of the update.

The strongest response has come from qualified institutional buyers. The QIB portion, excluding the anchor allocation, was subscribed 1.01 times, with bids received for 2,04,000 shares against 2,02,800 shares available.

Retail participation has also improved steadily. The category was subscribed 0.66 times, with bids for 15 lakh shares against 22,77,600 shares reserved for retail investors.

The NII category, however, continues to trail the other segments. It was subscribed 0.25 times, with bids for 5,67,600 shares against 22,77,600 shares offered. Within the NII category, the bNII portion was subscribed 0.39 times, while the sNII portion stood at 0.10 times.

Madhur Knit Crafts is a ₹53.27 crore bookbuilding IPO, comprising an entirely fresh issue of 53,26,800 equity shares. The price band has been fixed at ₹95 to ₹100 per share, and the issue is scheduled to close on August 27, 2026.

Madhur Knit Crafts IPO Subscription Status Day 3 (As of 10:34 AM)

The latest category-wise data shows a clear difference in investor interest across segments. QIB demand has already crossed the full-subscription mark, while retail participation is building but remains below 1x.

• Overall: 0.48x
• QIB (Ex-Anchor): 1.01x
• NII: 0.25x
• bNII (> ₹10 lakh): 0.39x
• sNII (< ₹10 lakh): 0.10x
• Retail: 0.66x
• Total Applications: 665

The QIB portion has moved just above the one-time mark, indicating that bids from qualified institutional buyers have now broadly covered the shares available to the category.

Retail demand has shown the more noticeable improvement over the three sessions. Subscription in this segment has climbed from 0.25x on Day 1 to 0.55x on Day 2 and 0.66x by Day 3.

The NII category has been less consistent. After starting at 0.32x on Day 1, subscription dropped to 0.23x on Day 2 before recovering slightly to 0.25x on Day 3.

For investors tracking the issue, the key point is that the overall book is still not fully subscribed. With the IPO closing tomorrow, the final day of bidding could have a significant impact on the eventual subscription level.

Day-Wise Subscription Trend

Madhur Knit Crafts IPO started with an overall subscription of 0.32x on Day 1. Demand picked up to 0.42x on Day 2 and reached 0.48x by Day 3, based on the latest available update.

The trend shows that retail participation has been the main driver of the improvement in the overall subscription level. The retail portion has moved up by more than two-and-a-half times from its Day 1 level.

QIB demand, meanwhile, has remained broadly stable and is already fully covered. The category moved from 0.99x on Day 1 to 1.01x on Day 2 and has stayed at 1.01x in the latest Day 3 update.

NII demand remains comparatively weak, particularly among small NII investors. The sNII portion has improved from 0.03x to 0.10x over the three days but is still far from full subscription.

Madhur Knit Crafts IPO Details

• Issue Size: ₹53.27 crore
• Fresh Issue: 53,26,800 equity shares
• Price Band: ₹95 to ₹100 per share
• Issue Price: ₹100 per share at the upper end
• Lot Size: 1,200 shares
• Minimum Retail Application: 2 lots / 2,400 shares
• Minimum Retail Investment: ₹2,40,000
• Minimum S-HNI Application: 3,600 shares
• Minimum S-HNI Investment: ₹3,60,000
• Listing Exchange: NSE SME
• Issue Type: Bookbuilding IPO
• Market Maker Reservation: 2,66,400 shares

Madhur Knit Crafts has reserved 5,05,200 shares for QIBs, 22,77,600 shares for NIIs and 22,77,600 shares for retail investors. Another 2,66,400 shares have been set aside for the market maker.

The IPO has a lot size of 1,200 shares. Since retail investors need to apply for at least two lots, the minimum retail application works out to 2,400 shares, requiring ₹2.40 lakh at the upper end of the price band.

For S-HNI investors, the minimum application is 3,600 shares, or three lots, which translates into an investment of ₹3.60 lakh at ₹100 per share.

Madhur Knit Crafts IPO Allotment and Listing Dates

The IPO is scheduled to close on August 27, 2026. The tentative post-issue schedule is as follows:

• IPO Opens: August 24, 2026
• IPO Closes: August 27, 2026
• Basis of Allotment: August 28, 2026
• Refunds Initiation: August 31, 2026
• Shares Credited to Demat Accounts: August 31, 2026
• Tentative Listing: September 1, 2026

These dates are tentative and can change depending on the final issue process and exchange timelines.

About Madhur Knit Crafts Ltd.

Madhur Knit Crafts Limited was incorporated in August 1997 and operates in the textile manufacturing space. The company manufactures fabrics, blankets, winter textiles, garments and other textile products.

The company began commercial operations in 2013 with a focus on blanket manufacturing and has since expanded its product range to serve consumer, industrial and institutional textile requirements.

Its manufacturing operations follow an integrated yarn-to-cloth model. The production process covers several stages, including knitting, dyeing, printing, brushing, polishing, sueding, stentering, bonding and finishing.

The company’s manufacturing facility is located in Ludhiana, Punjab, one of India’s established textile manufacturing centres. According to the company’s profile, the facility is supported by modern textile machinery and an in-house effluent treatment plant.

Madhur Knit Crafts also has exposure to international markets, with its products supplied to customers across domestic and overseas markets. The company has highlighted markets including Korea, Taiwan and China as part of its export presence.

What the Day 3 Numbers Indicate

The subscription data presents a mixed picture at this stage.

On the positive side, QIB demand has already crossed 1x, while retail participation has picked up meaningfully from Day 1. The overall subscription has also improved from 0.32x to 0.48x over the first three days.

However, the issue is still not fully subscribed overall, and NII participation remains subdued. The sNII segment, in particular, has only reached 0.10x so far.

That makes the final day of bidding important. A sharp increase in retail and NII applications could push the overall subscription higher before the issue closes, while the final numbers will provide a clearer picture of the demand across investor categories.

Conclusion

The Madhur Knit Crafts IPO was subscribed 0.48 times by 10:34 AM on August 26, the third day of bidding. QIBs have already covered their available portion at 1.01x, while retail investors have subscribed 0.66x.

NII demand remains the weaker spot at 0.25x, although it has recovered slightly from Day 2. Overall subscription has moved from 0.32x on Day 1 to 0.42x on Day 2 and 0.48x on Day 3.

With the issue set to close on August 27, the final day’s bidding will be the key factor in determining whether Madhur Knit Crafts manages to achieve full subscription. The basis of allotment is expected on August 28, followed by refunds and demat credit on August 31. The shares are tentatively scheduled to debut on the NSE SME platform on September 1, 2026.

Source:

• https://www.nseindia.com/market-data/issue-information?symbol=MADHURKNIT&series=SME&type=Active