Sat Kartar Shopping IPO Day 1: Issue booked nearly 3 times so far; check offer size, price band and key dates

The initial public offering (IPO) of Sat Kartar Shopping Ltd opened to a strong demand from investors on Friday, January 10, as the public offer was fully subscribed within hours of launch.

The NSE SME issue was subscribed nearly 3 times, driven by high retail demand.

The ₹33.8-crore SME issue is open for subscription till January 14.

The IPO attracted bids for over 80.52 lakh shares against 27.77 lakh shares on offer, leading to an overall subscription of 2.9 times, as per the NSE data till 2pm.

So far on the first day of subscription, the retail portion of the IPO was booked 5.25 times with bids for more than 72.41 lakh shares against the allocated quota of 13.79 lakh shares.

The Non-Institutional Investors (NIIs) applied for 8.11 lakh shares compared to 5.92 lakh shares set aside for them. The NIIs booked their category 1.37 times.

The company did not receive any application from the Qualified Institutional Buyers (QIBs) compared to the allocation of 8.06 lakh shares.

Ahead of the launch of its IPO, Sat Kartar Shopping Ltd raised ₹9.55 crore from anchor investors. Its anchor round was held on January 9.

According to the circular on the stock exchange, the company allotted 11,79,200 shares to six entities at an offer price of ₹81 per share.

Here’s a look at all the key details about the issue for the investors interested in applying for the shares of Sat Kartar Shopping Ltd.

Sat Kartar Shopping IPO price band and other details

Sat Kartar Shopping IPO consists of an exclusively fresh issue of 41.72 lakh shares worth ₹33.8 crore, and no offer-for-sale (OFS) component.

The company has fixed the price band at ₹77 to ₹81 per share for the IPO. The minimum lot size is 1,600 shares for the retail investors.

Narnolia Financial Services is the book-running lead manager of the Sat Kartar Shopping IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for the IPO is Prabhat Financial Services Ltd.

Sat Kartar Shopping IPO key dates

The IPO allotment status is expected to be finalised on Wednesday, January 15. Refunds are scheduled to be processed on Thursday, January 16, with shares being credited to the Demat accounts of the allottees on the same day.

The company has proposed to list shares on the NSE on Friday, January 17.

About Sat Kartar Shopping and use of IPO proceeds

Sat Kartar Shopping is an Ayurveda healthcare company that provides holistic wellness solutions. The company operates in the Direct-to-Consumer (D2C) segment, offering its products through its own website, third-party e-commerce platforms, and digital media channels.

Sat Kartar Shopping Limited operates under a contract manufacturing model with third-party Ayurvedic product suppliers.

As per Sat Kartar Shopping’s RHP, the company will be using the IPO proceeds for expenses of unidentified acquisition in the country or overseas, marketing and advertising, and capital expenditure. A portion of the funds will also be used for technology upgradation and general corporate purposes.

Sat Kartar Shopping Key financials

The healthcare company’s revenue from operations stood at ₹109.28 crore in the period ended December 15, 2024. The profit after tax (PAT) stood at ₹5.9 crore during the same period.

For the financial year ended March 31, 2024, Sat Kartar Shopping’s Revenue from operations stood at ₹127.9 crore compared to ₹82.97 crore in the preceding fiscal year (FY23). Profit after tax for FY24 was ₹6.3 crore compared to ₹2.5 crore in FY23.