Madhur Knit Crafts IPO
ListedSMETextiles
1.50×
Subscribed
Price band
₹100 – ₹100
Lot size
1,200
1 lot = ₹1,20,000
Issue size
₹27 Cr
Open – close
24 Aug 2026
to 27 Aug 2026
Listing
01 Sept 2026
Listing gain
+0.00%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Caution4 of 7 dimensions read
The filing raises real questions — 2 of 4 signals read negative
Strength42/100
- Undemanding valuation11.8× earnings at the upper band, with no peer set published to compare against
- Revenue shrinkingRevenue has contracted at 6.2% a year — the company is coming to market on a declining top line
- Low return on equityROE of 1.9% — the business earns little on the capital it already has
- Institutional book coveredQIB portion subscribed 1.01×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed, and is pulled toward neutral to reflect how much the document leaves unsaid. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens24 Aug 2026
- Closes27 Aug 2026
- Allotment28 Aug 2026
- Listing01 Sept 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB1.01x
Non-institutionalNII / HNI0.74x
Big NIIabove ₹10L0.71x
Small NII₹2L – ₹10L0.80x
Retail individualRII2.30x
2,393 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 27 Aug 2026.
Chance of allotment
Retail2.30× subscribed
~1 in 2.3
Minimum 2 lots · 2,400 shares · ₹2,40,000 blocked
Retail is 2.3× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 2.3 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII0.74× subscribed
Full allotment
Minimum 1 lot · 1,200 shares · ₹1,20,000 blocked
The HNI portion is under-subscribed at 0.74×, so applications should be allotted in full.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹100 – ₹100
Face value₹10
Lot size1,200shares
Minimum application₹1,20,000at cut-off
Total issue size₹27 Cr
Listing atSME platform
Company & valuation
Return on equity1.86%
ROCE31.11%
Debt/Equity1.69
RoNW28.33%
PAT Margin6.34%
EBITDA Margin13.19%
NAV32.47
Price to Book Value3.08
ISININE1P5601010
RegistrarSKYLINE
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 5,05,200 | 9.48% |
| Anchor Investor | 3,02,400 | 5.68% |
| QIB (Ex. Anchor) | 2,02,800 | 3.81% |
| NII (HNI) | 22,77,600 | 42.76% |
| bNII > ₹10L | 15,18,000 | 28.50% |
| sNII < ₹10L | 7,59,600 | 14.26% |
| Retail | 22,77,600 | 42.76% |
| Market Maker | 2,66,400 | 5.00% |
Total issue 53,26,800 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,40,0002 lots · 2,400 sh
Individual investors (IND) (Max)₹2,40,0002 lots · 2,400 sh
S-HNI (Min)₹3,60,0003 lots · 3,600 sh
S-HNI (Max)₹9,60,0008 lots · 9,600 sh
B-HNI (Min)₹10,80,0009 lots · 10,800 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted3,02,400
Anchor portion₹3.02 Cr
Bid date21 Aug 2026
Lock-in ends (50%)27 Sept 2026
Lock-in ends (rest)26 Nov 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Funding capital expenditure for the purchase of Solar panel₹3.68 Cr
- 02Working Capital Requirement of the Company₹15.92 Cr
- 03Prepayment or repayment of a portion of certain outstanding borrowings availed by the Company₹20.85 Cr
- 04General Corporate Purposes₹7.9 Cr
- 05Issue Expenses₹4.93 Cr
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2023 | 108.385 | — | 1.704 | 16.242 | — |
| 2024 | 171.635 | — | 11.033 | 29.485 | — |
| 2025 | 194.691 | — | 12.352 | 43.608 | — |
| 2026 | 89.327 | — | 0.903 | 48.546 | — |
Revenue CAGR -6.2%PAT CAGR -19.1%
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Madhur Knit Crafts Limitedthis issue | 8.51 | 11.75 | 22.75 | 37.42% |
| Kaytex Fabrics Ltd | 12.79 | 4.69 | 79.27 | 14.96% |
Blank cells are figures the offer document does not publish. An unlisted issuer has no market price, so it has no price-based multiple until it lists — which is exactly why the comparison is against companies that already trade. The peer set is the issuer's own selection, so read it as the flattering-est comparison available rather than a neutral one.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
Shrinking revenuemedium
Restated revenue CAGR of -6.2%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-2.2%
Listed up
1 of 8
Best
+0.4%
Papadmalji Agro Foods Limited
Worst
-17.5%
Himalayan Solar
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Green Asia Impexsame segment
1.0× sub+0.0%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Dudani Retailsame segment
1.4× sub-13.8%
Himalayan Solarsame segment
1.2× sub-17.5%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Madhur Knit Crafts
Madhur Knit Crafts Limited is a textile manufacturer engaged in producing fabrics, blankets and garments. The company commenced commercial operations in 2013 with the manufacture of blankets and has since expanded its product range to include consumer textile products and technical textiles such as paint roller fabrics. Its manufacturing processes include knitting, dyeing, printing, brushing, polishing, sueding and stentering, with capabilities covering the conversion of yarn into finished cloth. The company operates from its registered office and manufacturing facility in Ludhiana, Punjab. Its plant is equipped with circular knitting machines, warp knitting machines, dyeing machines, flatbed and rotary printing machines, stenter machines, brushing, embossing, punching, bonding, shearing and other textile machinery. The company also has an in-house effluent treatment plant for treating wastewater generated during dyeing and processing. Its machinery is sourced from Korea, Taiwan and China, and its operations are certified under ISO 9001:2015.
Founded 1997MD Mr Arun GuptaSector Textiles
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Madhur Knit Crafts IPO subscribed?
Madhur Knit Crafts is subscribed 1.50× overall (QIB 1.01×, NII 0.74×, retail 2.30×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, SKYLINE.
What is the minimum investment in the Madhur Knit Crafts IPO?
One lot is 1,200 shares, so a retail application at the ₹100 cut-off price blocks ₹1,20,000. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Madhur Knit Crafts IPO?
The retail portion is subscribed 2.30×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 2. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Madhur Knit Crafts IPO allotment date?
Allotment is scheduled for 2026-08-28, with listing on 2026-09-01. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, SKYLINE.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.