Karnika Industries Ltd. has announced public offering of 3299200 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 66.00 per share. The gross proceeds of the issue are expected to be Rs 2,507.39 lakhs.

The company's initial public offer (IPO) will open on 29 September 2023 and is expected to close on 04 October 2023, subject to customary closing conditions.

The IPO includes a fresh Issue of 3299200 Equity Shares of the Company at an price of Rs 76.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.

Karnika Industries Ltd. anticipates using the proceeds of the issue for .

Beeline Capital Advisors Pvt. Ltd. as lead manager & SKYLINE FINANCIAL SERVICES PRIVATE LTD is the registrar, to the issue.