NSE SME Madhur Knit Crafts starts on a frayed note

Madhur Knit Crafts traded at Rs 95 on the NSE, a 5% discount to the issue price of Rs 100.

The scrip was listed at Rs 100, matching the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 100 and a low of Rs 95. About 7.51 lakh shares of the company changed hands at the counter.

Madhur Knit Crafts' IPO was subscribed 1.47 times. The issue opened for bidding 24 August 2026 and it closed on 27 August 2026. The price band of the IPO was fixed between Rs 95 to Rs 100 per share.

The IPO comprised fresh issue of 53,27,693 equity shares. The company intends to utilize the net proceeds for funding capital expenditure for the purchase of solar panel, working capital requirement of the company, prepayment or repayment of a portion of certain outstanding borrowings availed by the company, general corporate purposes and issue expenses.

Ahead of the IPO, Madhur Knit Crafts on 21 August 2026, raised Rs 3.02 crore from anchor investors. The board allotted 3.02 lakh shares at Rs 100 per share to 2 anchor investors.

Madhur Knit Crafts, incorporated in 1997 and converted into a public limited company in January 2025, is a textile manufacturer founded by Arun Gupta and his brothers. The company commenced commercial operations in 2013 with blanket manufacturing and has since diversified into fabrics, garments and technical textiles. Its operations are primarily focused on consumer textile products, while technical textiles such as paint roller fabrics contribute minimally to revenue. As of 28 February 2026, the company had 177 employees, including directors and KMPs.

The company recorded revenue from operations of Rs 194.69 crore and net profit of Rs 12.35 crore for the period ended 28 February 2026.

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