Shree Karni Fabcom Ltd IPO

Shree Karni Fabcom Limited was originally formed as a limited liability partnership under the name `Shree Karni Fabcom LLP', bearing LLP identification number AAM-1759 pursuant to a certificate of incorporation dated March 7, 2018 issued by the Registrar of Companies, Gujarat at Ahmedabad. Subsequently, pursuant to a resolution passed in the meeting of the partners held on November 26, 2022, Shree Karni Fabcom LLP was converted into a private limited company under the name `Shree Karni Fabcom Private Limited' and a certificate of incorporation dated April 11, 2023 was issued by the Registrar of Companies, Central Registration Centre. Subsequently, pursuant to a resolution passed by its Board of Directors in their meeting held on October 3, 2023 and by the Shareholders at an extra-ordinary general meeting held on October 10, 2023 the Company was converted into a public limited company and consequently the name of the Company was changed to `Shree Karni Fabcom Limited' and a fresh certificate of incorporation dated October 20, 2023 was issued by the Registrar of Companies, Gujarat at Ahmedabad.

India's strengths have already been defined in traditional textiles and natural fibres globally. It is the second largest producer of polyester in the world and is now emerging as a key player in technical textiles industry contributing to a market size of $ 19 Bn. Technical textiles are defined as high performance textile products, materials, and fibres that are used for their functional use rather than for aesthetic purposes. Technical textiles have varied applications in several vital industries including aerospace, packaging, hazard protection, shipping, sports, agriculture, defence, healthcare, construction, etc. The usage of technical textiles has the benefit of large-scale improvements in performance, efficiency, conservation of resources, cost reduction, environmental protection and cost effectiveness. Other terms used for defining Technical textiles include industrial textiles, functional textiles, performance textiles, engineering textiles, invisible textiles and hi-tech textiles. Technical textiles is a fast-growing sub-segment that finds its usage in an array of sectors. The end use application of technical textiles is widespread and seen in industries such as agriculture, construction, sports apparel, healthcare etc. India's leap towards modernisation and its manufacturing competitiveness are some of the key contributors to the growth of this segment.

Shree Karni Fabcom Limited is engaged in the business of manufacturing of Technical Textile for the luggage, medical arch support, chairs, shoes and apparels industry. The Company specializes in Woven Fabrics, Knitted Fabrics, Coated Fabrics, 100% polyester and recycled polyester fabric. The Company procures yarn, resin, acrylic and coating chemicals to manufacture specialized technical textile and sell them to various luggage, medical arch support, chairs, shoes and apparels manufacturers and other textile intermediaries. The fabric manufactured by the company also has diverse applications for luggage, roofing, agriculture net, vehicle covers, tents, armed forces fabric, sports-kits, chairs, medical arch support, umbrella and rain coats amongst others. Its manufacturing unit is equipped with automated machines for manufacturing of specialized technical textile with installed capacity of 70,000 meters per day for weaving, 90,000 kilos per month for knitting, 50,000 meters per day for poly acrylic and polyurethane coating, 15,000 meters per day for PVC / 8,000 meters per day for EVA lamination and 40,000 meters per day heat embossing. The Company markets and sells under its brand `SKFL'.