Madhur Knit Crafts IPO Subscription Day 1: Issue Subscribed 0.31x, QIB Near Full Subscription

The Madhur Knit Crafts IPO opened for subscription on Monday, August 24, 2026, and saw moderate bidding through the first day. By 5 PM, the ₹53.27 crore NSE SME IPO had been subscribed 0.31 times, with total bids received for 14.72 lakh shares against 47.58 lakh shares offered, excluding the anchor portion. 

The QIB (Ex Anchor) segment was the strongest among the main investor categories, coming close to full subscription at 0.99 times. The NII category was subscribed 0.32 times, while individual investors subscribed 0.24 times. 

QIB portion comes close to full subscription 

The QIB (Ex Anchor) portion received bids for 2,00,400 shares against 2,02,800 shares on offer, taking the subscription level to 0.99 times. One application had been recorded in this category by the time of the reported update. 

The NII segment received bids for 7,27,200 shares against 22,77,600 shares reserved for the category, resulting in a subscription of 0.32 times. 

Within NII, the bNII category was subscribed 0.56 times, while the sNII category stood at just 0.03 times. 

Individual investors put in bids for 5,44,800 shares against 22,77,600 shares offered to them. This translated into a subscription of 0.24 times, with 227 applications recorded. 

Overall, the issue received bids for 14,72,400 shares, compared with 47,58,000 shares offered, taking the total subscription to 0.31 times. The total number of applications stood at 247. 

Madhur Knit Crafts IPO details 

Madhur Knit Crafts is raising ₹53.27 crore through a completely fresh issue of 53,26,800 shares. Of the total issue, 2,66,400 shares are reserved for the market maker, while 50,60,400 shares form the net offer to the public. 

The IPO price band has been fixed at ₹95 to ₹100 per share. The minimum application size for individual investors is 2,400 shares, requiring an investment of ₹2.40 lakh at the upper price band. 

For NII investors, the minimum application is 3 lots, or 3,600 shares, involving ₹3.60 lakh at the upper price. 

The IPO will remain open until August 27, 2026. The tentative allotment date is August 28, followed by refunds and share credit on August 31. The shares are expected to list on the NSE SME platform on September 1, 2026. 

Anchor investors put in ₹3.02 crore 

Ahead of the public issue, Madhur Knit Crafts raised ₹3.02 crore from anchor investors. The anchor bidding took place on August 21, with 3,02,400 shares allotted. 

The anchor shares are subject to the applicable lock-in requirements, with the lock-in for 50% of the shares ending on September 27, 2026, and the remaining shares on November 26, 2026. 

About Madhur Knit Crafts 

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

Its operations follow an integrated yarn-to-cloth manufacturing model covering processes such as knitting, dyeing, printing, brushing, polishing, sueding, stentering, bonding and finishing. The company’s manufacturing facility is located in Ludhiana, Punjab, a major textile manufacturing hub. 

What to watch on Day 2 

The first-day numbers show that QIB demand is currently the key positive, with the non-anchor QIB portion already at 0.99 times subscription. However, the broader issue remains undersubscribed, with both the NII and individual investor portions still below 1 time. 

The next two trading sessions will be important. A pickup in NII and individual investor demand could quickly push the overall subscription higher, while sustained QIB interest would provide another boost to the issue. 

For now, Madhur Knit Crafts has started its IPO journey with 0.31x overall subscription on Day 1, with institutional demand clearly ahead of other investor categories.  

Source: 

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