Scarnose International Limited IPO Detail

Incorporated in 2011, Scarnose International Limited manufactures and trades agricultural commodities such as cotton trading, garment manufacturing, yarn trading, and fabric trading. The company has a network of printing, weaving, and stitching units. Scarnose International procures cotton bales from different generous and offers the best quality cotton bales to the principal markets of India. Scarnose International Limited’s product portfolio includes raw cotton, cotton bales, yarn and garments for ladies.

The company started manufacturing ladies’ dress materials, particularly Kurtis, through an outsourcing model in the financial year 2021 and selling them under their domestic brand “Scarnose”.

The company buys raw materials from a variety of suppliers, such as embroidered fabric accessories, fasteners, buttons, labels, laces, and other consumables, and then the manufacturing facility begins cutting, sewing, finishing and ironing them into finished products.

Competitive Strengths:

  • Rich management experience and skilled team
  • Smooth flow of operations
  • Well-defined organizational structure
  • Existing Supplier Relationship
  • Quality Policy
  • Customer Centric Business Model

Company Financials

Period EndedTotal AssetsTotal RevenueProfit After Tax
Amount in ₹ Lakhs

Objects of the Issue

The Objects of the Issue are:

  1. To meet the working capital requirements.
  2. To make the repayment of Unsecured Loan.
  3. To meet the Issue Expenses.
  4. General Corporate Purposes.

Scarnose International IPO Details

Scarnose International IPO DateJun 14, 2022 to Jun 17, 2022
Scarnose International IPO Face Value₹10 per share
Scarnose International IPO Price₹55 per share
Scarnose International IPO Lot Size2000 Shares
Issue Size1,200,000 shares of ₹10
(aggregating up to ₹6.60 Cr)
Fresh Issue1,200,000 shares of ₹10
(aggregating up to ₹6.60 Cr)
Issue TypeFixed Price Issue IPO
Listing AtBSE SME
Retail Shares Offered50% of the net offer
NII (HNI) Shares Offered50% of the net offer
Company PromotersMr. Shah Vimalkumar Mishrilal and Mr. Hitesh Loonia are the company promoters.

Scarnose International IPO Timeline (Tentative Timetable)

Scarnose International IPO opens on Jun 14, 2022, and closes on Jun 17, 2022. The Scarnose International IPO bid date is from Jun 14, 2022 10.00 A.M. to Jun 17, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Scarnose International IPO Opening DateJun 14, 2022
Scarnose International IPO Closing DateJun 17, 2022
Basis of AllotmentJun 22, 2022
Initiation of RefundsJun 23, 2022
Credit of Shares to DematJun 24, 2022
Scarnose International IPO Listing DateJun 27, 2022

Scarnose International IPO Lot Size

The Scarnose International IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹110,000).


Scarnose International IPO Promoter Holding

Pre Issue Share Holding99.99%
Post Issue Share Holding61.90%

Scarnose International IPO Review

Though the company has reported a growing pattern for its top and bottom lines, its low margin raises concerns. Based on petty earnings, its IPO is priced greedily. A low post-IPO equity capital base indicates longer gestation for migration to the main board. There is no harm in ignoring this pricy issue.

Scarnose International IPO Subscription Status (Bidding Detail)

The Scarnose International IPO is subscribed 0.19 times on Jun 14, 2022 12:38:00 PM. The public issue subscribed 0.27 times in the retail category, times in the QIB category, and 0.11 times in the NII category.

CategorySubscription (times)

Company Contact Information

Scarnose International Limited
503, Sun Square,
Nr Hotel Nest, Off C. G. Road,
Navrangpura, Ahmedabad – 380006,
Phone: 079 – 4897 5503

Scarnose International IPO Registrar

Cameo Corporate Services Limited

Phone: +91-44-28460390

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