Shree Karni Fabcom IPO

Incorporated in March 2018, Shree Karni Fancom Limited produces customized knitted and woven fabrics for industries such as luggage, medical arch support, chairs, shoes, and apparel. They specialize in Woven Fabrics, Knitted Fabrics, Coated Fabrics, and 100% polyester, and source yarn, resin, acrylic, and coating chemicals to produce specialized technical textiles. The manufacturing unit has modern, highly automated machines that produce specialized technical textiles with installed capacities of 70k meters/day for weaving, 90k kilos/month for knitting, 50k meters/day for coatings, 15k meters/day for PVC, 8k meters/day for EVA lamination, and 40k meters/day for heat embossing. Revenue from operations for 8 months ended Nov 30, 2023 was ₹7572.22 lakhs. Fiscals 2021, 2022, 2023 revenue was ₹3287.42 lakhs, ₹8357.36 lakhs, and ₹12694.65 lakhs respectively. Revenue grew at a CAGR of 56.89% during this period. The company has been awarded a certificate for their management system, ISO 9001:2015 by INTERTEK. The company sells its products to various contract manufacturers of branded luggage and shoe manufacturers, traders, and others located in 13 states. As on November 30, 2023, the company has 39 employees in various departments.

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects: 1. Funding the capital expenditure setting up a dyeing unit in Navsari District, Surat, Gujarat; 2. Funding the purchase of new machinery proposed to be installed at the new unit proposed to be set up for manufacturing bags in Palsana, Surat, Gujarat, with an intent to expand the product portfolio; 3. Funding working capital requirements of the company; and 4. General Corporate Purposes.

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