Kheria Autocomp IPO Day 3: Subscribed 2.15x; QIB surges 347.8%; Retail hits 2.53x
- Kheria Autocomp IPO subscribed 2.15x on Day 3
- QIB category surges 347.8% to reach 1.03x
- Retail participation jumps to 2.53x from 1.00x
- NII bHNI demand rises 294.0% to 3.31x
- Listing scheduled for 24-09-2026
*this image is generated using AI for illustrative purposes only.
Kheria Autocomp IPO is subscribed 2.15x on Day 3, driven by a massive late-day surge in institutional and retail demand. Qualified Institutional Buyers (QIB) jumped 347.8% to 1.03x, while Retail participation crossed 2.53x.
Subscription Status
The Kheria Autocomp IPO gained substantial momentum on Day 3, crossing the 2x threshold to reach 2.15x. The most dramatic movement occurred in the Qualified Institutional Buyer (QIB) category, which skyrocketed by 347.8% during the day, moving from 0.23x to 1.03x. Non-Institutional Individual (NII) bHNI subscribers also surged significantly, jumping 294.0% from 0.84x to 3.31x. Retail investors increased their participation sharply, pushing the category to 2.53x from 1.00x earlier in the day. NII sHNI reached 2.45x, up from previous reports.
Subscription Progression
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 17-09-2026 | 0.00x | 0.10x | 0.58x | 0.23x | 0.20x |
| Day 2 | 18-09-2026 | 0.23x | 0.51x | 0.65x | 0.57x | 0.48x |
| Day 3 | 21-09-2026 | 1.03x | 3.31x | 2.45x | 2.53x | 2.15x |
Category-wise Breakdown
- Retail: Leading the pack at 2.53x, up from 1.00x earlier in the day.
- NII (bHNI): Subscribed 3.31x, showing a strong intraday jump of +294.0% from 0.84x.
- NII (sHNI): Subscribed 2.45x, up slightly from previous reports.
- QIB: Surged significantly to 1.03x, up from 0.23x earlier in the day.
- Employees: 0x subscribed.
Intra-day Timeline
Subscription figures picked up pace sharply after 12:15 PM on Day 3, driven primarily by institutional interest and strong retail participation in the final hours. A significant spike was observed between 15:15 and 16:15, with NII bHNI jumping from 2.28x to 3.31x and Retail rising from 1.95x to 2.53x.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.23x | 0.84x | 1.00x | 0.73x |
| 12:15 | 0.23x | 0.97x | 1.12x | 0.81x |
| 13:15 | 1.03x | 1.19x | 1.30x | 1.17x |
| 14:15 | 1.03x | 1.45x | 1.51x | 1.30x |
| 15:15 | 1.03x | 2.28x | 1.95x | 1.66x |
| 16:15 | 1.03x | 3.31x | 2.53x | 2.15x |
| 17:15 | 1.03x | 3.31x | 2.53x | 2.15x |
| 20:16 | 1.03x | 3.31x | 2.53x | 2.15x |
Offer Details
- Price Band: ₹96.00000 - ₹101.00000
- Issue Size: ₹345600 - ₹500000 lakhs
- Min Bid Qty: 2400 shares
- IPO Open Date: 17-09-2026
- IPO Close Date: 21-09-2026
About the Company
Kheria Autocomp is an auto ancillary unit specializing in plastic injection moulding. Established in 2009, it operates as a Tier-II supplier, manufacturing components such as interior cabin trims, exterior plastic parts, under-hood components, and HVAC ducts for both internal combustion engine and electric vehicles. The company’s facility is located in the Tata Vendor Park at Sanand, Gujarat.
Financial Highlights
| Metric | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Revenue from Operations (₹ crores) | 120.01 | 92.07 | 62.32 |
| Profit After Tax (₹ crores) | 11.42 | 8.24 | 3.31 |
| Total Assets (₹ crores) | 106.23 | 81.79 | 53.14 |
Objects of the Issue
- Part funding of capital expenditure for setting up a new manufacturing facility for plastic moulded auto components at GIDC Sanand Industrial Park (₹39.96 crores).
- General Corporate Purposes.
Risk Factors
- Customer Concentration: Top 5 customers contribute 97-98% of revenue; top 1 customer contributes 31-50%.
- Geographic Concentration: 99.88-99.96% of revenue is derived from customers in Gujarat.
- Sector Dependence: Revenues are substantially linked to automotive sector demand cycles and OEM production.
- Raw Material Costs: Raw material costs account for 63-68% of revenue from operations.
- Single Facility: Operations are conducted from a single manufacturing unit in Gujarat.
What's Next
- Allotment Date: 22-09-2026
- Listing Date: 24-09-2026
How might the heavy late-day subscription surge impact the listing price premium and initial trading volatility for Kheria Autocomp?
Given the 97-98% revenue concentration from top customers, how vulnerable is the company's future growth to potential order reductions from its largest clients?
Will the planned capital expenditure for the new Sanand facility sufficiently mitigate the risks associated with operating from a single manufacturing unit?
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