Madhur Knit Crafts' IPO opened for subscription on August 24, 2026, with early subscription data showing 1% subscription in opening hours. As per The Economic Times, the issue received bids for a portion of the 50.24 lakh shares on offer. The grey market premium (GMP) stands at ₹16, indicating a potential listing price of around ₹116 against the upper issue price of ₹100. This represents a 16% premium over the issue price, though GMP should not be treated as a guaranteed listing price. The IPO closes on August 27, 2026, with shares tentatively scheduled to list on the NSE SME platform on September 1, 2026.
Madhur Knit Crafts, a manufacturer of blankets, knitted fabrics and garments, is set to raise ₹53.28 crore through an initial public offering on the NSE Emerge platform. The company will issue 53,27,693 equity shares in the price band of ₹95-₹100 per share. The IPO opens for subscription on August 24, 2026, and closes on August 27, 2026, with the minimum retail bidding lot set at 1,200 shares requiring a minimum investment of ₹1,20,000. The anchor bidding will commence on Friday, with the main issue opening for subscription on Monday. SKI Capital has been appointed as the Book Running Lead Manager to the issue while Skyline Financial Services will be the Registrar. The basis of allotment is scheduled for August 28, 2026, with refund initiation on August 31, 2026 and credit of shares on September 1, 2026.
As reported by The Hindu BusinessLine, the net proceeds from the IPO will be utilized for capital expenditure for the purchase of solar panels, repayment of certain outstanding borrowings, and general corporate purposes. The company plans to use ₹20.85 crore of the proceeds for prepayment or repayment of certain outstanding borrowings and ₹15.92 crore for working capital requirements. Another ₹3.68 crore will fund the purchase of solar panels, with the remainder of the proceeds earmarked for general corporate purposes and offer-related expenses. The company's promoter and Managing Director, Arun Gupta, stated that the IPO will enable the company to further strengthen its operational capabilities and support rising working capital requirements while investing in a rooftop solar power plant aimed at improving energy efficiency and sustainability.
Madhur Knit Crafts has demonstrated exceptional financial growth with total income expanding from ₹8.96 crores in FY23 to ₹19.48 crores in the 11-month period ending February 2026. The company's PAT surged massively from ₹0.90 crores in FY23 to ₹12.35 crore in the recent period, while EBITDA jumped from ₹5.51 crores in FY23 to ₹25.68 crore with the EBITDA margin doubling from 6.17% to 13.19%. Using the ceiling price of ₹100 and FY25 EPS of ₹8.51, the calculated price-to-earnings multiple stands at 11.75x. The company's Return on Net Worth (RoNW) of 37.42% significantly outperforms its industry peer Kaytex Fabrics' 14.96%. Total assets grew dramatically from ₹64.59 crores in FY23 to ₹159.97 crores by February 2026, reflecting deployment of capital into tangible Property, Plant & Equipment to support end-to-end manufacturing. For the 11 months ended February 28, 2026, the company reported total income of ₹194.79 crore and a profit after tax of ₹12.35 crore, compared to total income of ₹171.76 crore and PAT of ₹11.03 crore in FY2025.
As reported by The Hindu BusinessLine, Madhur Knit Crafts offers a broad portfolio of blankets, winter textiles, knitted fabrics and garments, catering to consumers directly as well as retailers, wholesalers and apparel and home textile segments. The company operates an integrated yarn-to-cloth manufacturing model with capabilities spanning knitting, dyeing, printing, brushing, polishing, sueding, stentering, bonding and finishing. Its products cater to apparel, home-textile and industrial applications. The company's core market remains domestic, leveraging Ludhiana's strong textile ecosystem for efficient sourcing, supply chain management, and nationwide distribution. The company maintains a limited presence in technical textiles such as paint roller fabrics. The transition to an integrated yarn-to-cloth model has enabled the firm to handle significantly higher sales volumes and capture the full manufacturing value chain from yarn processing to finished fabric. Arun Gupta highlighted that over the years, the company has built an integrated textile manufacturing platform with capabilities spanning yarn processing to finished fabrics and textile products.
