Scarnose International Limited
IPO Details
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Scarnose International Limited's completed its IPO journey with a successful listing on BSE on Jun 27, 2022. The public offering mobilized 12,00,000 Shares in total capital, comprising 12,00,000 Shares in fresh equity.
The offering was conducted within the price band of ₹55 to ₹55, with minimum application lots of 2000 shares. Investor participation during the Jun 13, 2022 to Jun 17, 2022 subscription window determined the final allocation pattern.
The basis of allotment was announced on Jun 22, 2022, finalizing share distribution to successful applicants. The listing represents a significant corporate development, providing the company with enhanced visibility and access to public capital markets.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in 2011, Scarnose International Limited is engaged in the manufacturing and trading of agricultural commodities, including cotton trading, garment manufacturing, yarn trading, and fabric trading. The company operates a network of printing, weaving, and stitching units. It procures cotton bales from various suppliers and delivers high-quality cotton to key markets across India. Scarnose International's product portfolio includes raw cotton, cotton bales, yarn, and garments, primarily catering to the ladies' fashion segment. In the financial year 2021, the company ventured into the manufacturing of ladies' dress materials, particularly Kurtis, through an outsourcing model under its domestic brand "Scarnose." The company sources raw materials from multiple suppliers, including embroidered fabric accessories, fasteners, buttons, labels, and laces. The manufacturing process involves cutting, sewing, finishing, and ironing to transform raw materials into finished products.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
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- Mr. Shah Vimalkumar Mishrilal
- Mr. Hitesh Loonia
Scarnose International Limited
Cameo Corporate Services Limited