Sat Kartar Shopping IPO Day 3: NSE SME issue booked over 332 times, check key details

The initial public offering (IPO) of Sat Kartar Shopping Limited closed on Tuesday, January 14, with a bumper subscription driven by non-institutional investors. The NSE SME issue was booked more than 332 times on the last day of bidding.

Riding on strong demand from non-institutional and retail investors, the IPO was fully booked on the first day on Friday, January 10.

On the last day of bidding, the public offer received bids for more than 92.29 crore shares against 27.77 lakh shares on offer, leading to an overall subscription of 332.24 times.

According to the NSE data, the ₹33.8-crore IPO received bids for more than 34.36 crore shares from retail investors against the allocation of 13.79 lakh shares. The retail portion was booked 249.17 times. The NIIs showed the highest demand by booking their category 808.5 times. The NIIs applied for more than 47.86 lakh shares compared to 5.92 lakh shares reserved for them.

The Qualified Institutional Buyers (QIBs) placed applications for over 10 crore shares against 8.06 lakh shares on offer. The QIBs category was booked 124.75 times.

Sat Kartar Shopping IPO details

The Sat Kartar Shopping IPO comprised a fresh issue of 41.73 lakh shares. The IPO price band was fixed at ₹77 to ₹81 per share. The lot size for a single application by the retail investors was 1,600 shares, aggregating to a minimum investment of ₹1,29,600.

The company is expected to decide the share allotment status on Wednesday, January 15.

IPO investors can easily check the share allotment status on NSE and the website of the IPO registrar, Skyline Financial Services Private Ltd.

Sat Kartar Shopping Ltd is expected to start refunds on Thursday, January 16. Shares will also be credited to the Demat accounts of the allottees on the same day.

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

Use of IPO proceeds

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

It operates under a contract manufacturing model with third-party Ayurvedic product suppliers.

Sat Kartar Shopping has proposed to utilise the IPO proceeds for funding an unidentified acquisition in the country, or overseas. A portion of the funds will also be used for marketing and advertising, and capital expenditure. The IPO funds will also be used for technology upgradation and general corporate purposes.

The company reported revenue of ₹109.55 crore in the period ended December 15, 2024. The profit after tax (PAT) stood at ₹5.9 crore during the period under review. Its revenue increased to ₹128.1 crore in FY24 compared to ₹82.97 crore in FY23. Its net profit stood at ₹6.3 crore in FY24 against ₹2.5 crore in the previous financial year.