Kundan Edifice Ltd Share Price – NSE

Capital Goods - Electrical Equipment, Small Cap

Kundan Edifice will hold a meeting of the Board of Directors of the Company on 11 November 2023.

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The scrip was listed at Rs 75, a discount of 17.58% compared with the issue price. The scrip hit a high of Rs 78.75 and a low of Rs 71.25. About 7.45 lakh shares of the company changed hands at the counter.

The IPO of Kundan Edifice was subscribed 37.91 times, indicating strong investor interest. The IPO opened for bidding on 12 September, and closed on 15 September 2023, with a IPO price of Rs 91 per share. The IPO consisted of a fresh issue of 27,72,000 shares, resulting in the dilution of the promoter and promoter shareholding from 99% to 72.28% pre-IPO. The company plans to utilize the net proceeds for working capital requirements and general corporate purposes.

Kundan Edifice is primarily engaged in the manufacturing, assembly, and sale of LED strip lights. It operates as an original design manufacturer (ODM) in the electronics manufacturing services (EMS) sector, supplying LED strip lights to customers who distribute them under their own brands. The company serves various industries and has manufacturing facilities in Maharashtra. As of 31 August 2023, Kundan Edifice employed over 311 employees, including contract workers. For the period ending 31 March 2023, the company reported revenue from operations of Rs 60.21 crore and a net profit of Rs 5.13 crore.

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