Karda Construction IPO:GMP, Issue Size, Issue Price and Important dates

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Karda Construction IPO is engaged in construction business and is all set to make a debut in the stock market with an issue size of 77.4 Cr.   

Karda Construction IPO – Overview    

 Issue Date           16-21 March 2018 
Karda Construction IPO Opening Date           21 March 2018 
Karda Construction IPO Face Value           INR 10 per share           
Karda Construction IPO Price           INR 180 per share          
Karda Construction IPO Lot Size           80 Shares          
Issue Size           77.4 Cr      
Issue Type           Book built Issue IPO           
Listing At           BSE, NSE
QIB Shares Offered             14.50 times 
NII (HNI) Shares           6.39 times 
Company Promoters           The Promoters of the Company are: 1. Mr. Naresh Karda  
XELPMOC DESIGN AND TECH IPO

Tentative Dates           

IPO opening date           16 March 2018  
IPO closing date           21 March 2018  
Basis of Allotment           26 March 2018 
Initiation of Refunds           27 March 2018 
The credit of Shares to Demat          28 March 2018 
IPO Listing Date           2 April 2018 

Company Overview    

Karda Constriction Limited is engaged in construction business. They are a real estate development company which develops and sells residential and residential-cum-office projects in Nashik, India. 

The company has successfully completed and delivered 15 residential projects and office space projects like Hari Smruti, Hari Amantran, Hari Shrushti, Hari Kunj, Hari NiwasHari Niketan, Hari Sankalp etc. They currently have 13 Ongoing and 3 Planned projects. 

Industry Overview    

The sector post-introduction of Real Estate (Regulation and Development) Act (RERA) is on the path to transformation, especially for the residential real estate segment. Some of the new regulations under RERA include disallowing the common practice among many developers of pre-launching projects without getting requisite approvals from the local authorities, making project registration mandatory with the regulator, and developers will have to disclose approval status, project layout and timeframe for completion to the regulator as well as customers.

Additionally, to curb diversion of funds the developer will now have to deposit 70% of the project funds in a separate account which can only be used for the earmarked project. The Act also restricts developers from changing plans post approvals without the consent of the buyers, further empowering the buyers. 

Objectives Of The Issue           

  • Part repayment of overdraft facilities. 
  • Part repayment of term loans. 
  • General corporate purpose. 
  • Issue related expenses. 

Financial Statements          

Company Contact Information 

Karda Construction Ltd 
2nd Floor Gulmohar Status, 
Above Business Bank, 
Samarth Nagar, Nashik – 422005 
Phone: +91� 253 � 235 1090 
Email: admin@kardaconstruction.com 
Website: http://www.kardaconstruction.com 

Registrar 

Bigshare Services Pvt Ltd 
 
Phone: +91-22-6263 8200 
Email: ipo@bigshareonline.com 
Website: http://www.bigshareonline.com 

Lead Manager(s) 

  1. Aryaman Financial Services limited (Past IPO Performance) 

Lead Manager Reports 

  • IPO Lead Manager Performance Summary 
  • IPO Lead Manager Performance Tracker 

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