CKK Retail Mart IPO Day 1: Check subscription status, price band, lot size, key dates and more

CKK Retail Mart IPO: Packaged products distributor CKK Retail Mart's initial public offering opened for subscription on Friday, January 30. The issue will conclude on February 3. The price band has been fixed at ₹155 to ₹163 per share.

The ₹88.02 crore initial share sale consists of a fresh issuance of 44.08 lakh shares valued at ₹71.85 crore and an offer for sale of 9.92 lakh shares worth ₹16.17 crore by promoter Sakuma Infrastructure and Realty Pvt Ltd.

The funds raised will be used for the following objectives:

• Acquisition of leasehold plots along with a warehouse constructed on the plots
• Undertake repair and refurbishment of warehouses on the leasehold plots
• Working capital needs
• General corporate purposes

"We believe that the listing of our company’s equity shares will enhance our company’s corporate image, brand name and create a public market for our equity shares in India. It will also provide liquidity to the existing shareholders and will also create a public trading market for the equity shares of our company," the firm said in its red herring prospectus.

CKK Retail Mart IPO Day 1: Subscription status

The issue has been subscribed 46% so far on the first day of bidding. It received bids for 21,92,000 shares as against 48,00,000 shares on offer, as per the NSE data until 4:07 pm.

CKK Retail Mart IPO lot size

A lot consists of 800 shares. Individual investors can apply for at least two lots or 1,600 shares. Half of the net offer is reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.

CKK Retail Mart IPO: Allotment and listing date

CKK Retail Mart is involved in the distribution and trading of packaged agro-commodities like sugar, ghee and pulses across regions including Maharashtra, West Bengal, Bihar and the north-eastern states. In April last year, the company expanded its product portfolio with the launch of fruit pulp-based juice brand 'FruitzzzUp'. In addition to the core business operation, it also occasionally undertakes consultancy assignments.

The firm has strategically expanded its distribution network through two distinct models: the three-tier distribution model and the direct-to-distributor model.