# Koolking Industries India Limited: IPO analysis > Koolking Industries India Limited (CIN U28129PB2008PLC031668) has filed a Draft Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of ₹300 Cr and an offer for sale of 30.5 lakh shares. In FY26 it reported revenue of ₹527 Cr (+9.0% on FY25) and a net profit of ₹33 Cr. Promoters hold 87.8% before the IPO. Our fact-check of its claims found no medium or high concerns across 40 claims checked. - Page: https://ipo.innerkore.com/company/U28129PB2008PLC031668/koolking-industries-india-limited/ - CIN: U28129PB2008PLC031668 - Last updated: 1 Oct 2026 ## Key facts - **Company:** Koolking Industries India Limited - **CIN:** U28129PB2008PLC031668 - **Filing stage:** DRHP - **Latest SEBI filing:** 1 Oct 2026 - **Fresh issue:** ₹300 Cr - **Offer for sale:** 30,50,000 shares - **Listing on:** BSE, NSE - **Revenue FY26:** ₹527 Cr - **Revenue growth:** +9.0% - **Net profit FY26:** ₹33 Cr - **Revenue CAGR FY24 to FY26:** 48.2% - **Promoter holding (pre-IPO):** 87.8% - **Lead managers:** Keynote Financial Services Limited - **Registrar:** KFin Technologies Limited - **Fact-check flags:** 0 high, 0 medium, 4 low ## Key signals (read from the filing; not investment advice) - **Growth** (looks fine): 48.2% a year. Sales FY24 to FY26; latest year +9%. - **Profitability** (look closer): 6.3% net margin. FY26. - **Debt** (concern): 1.63x equity. ₹153 crore borrowed at the end of FY26. - **Profit into cash** (concern): -130% of profit. Operations brought in ₹-43 crore against ₹33.2 crore of profit in FY26. - **One-off income** (look closer): 6% of profit. Other and one-off income is 6% of pre-tax profit; management describes 4 one-off items. - **Red flags** (looks fine): None serious. 40 claims checked: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; unspecified) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 240 | 483 | 527 | | Sales growth | – | 101.4% | 9.0% | | Net profit | 7.7 | 27 | 33 | | Net margin | 3.2% | 5.6% | 6.3% | | Net worth | 33 | 61 | 94 | | Borrowings | 37 | 66 | 153 | | Return on equity | 22.9% | 44.6% | 35.3% | ## Non-recurring items (as described by management) - Government grants relating to the purchase of property, plant and equipment are deducted from its gross value and are recognized in the statement of profit or loss profit or loss on a systematic over the expected useful lives of the related assets by way of reduced depreciation. (p.439) - Government grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving financial support to the Company with no related costs is recognized in the Statement of profit or loss of the period in which it becomes receivable under ‘Other operating income’/‘Other income’ based on the nature of grant. (p.439) - The exchange difference arising on the settlement or reporting of monetary items at rates different from rates at which these were initially recorded / reported in previous period, are recognized in the statement of profit and loss in the period in which they arise. (p.440) - Other income increased by 278.56% to ₹2.63 Crore in Fiscal 2026 from ₹69.50 Lakh in Fiscal 2025, primarily due to an increase in interest income, increase in government grants, increase in expected credit loss on trade receivable written back and a one-time increase in miscellaneous income. (p.446) ## Use of proceeds (fresh issue) - Funding the capital expenditure towards the Proposed Projects: ₹138 crore - Funding the capital expenditure towards purchase of new machinery and equipment at our existing Manufacturing Facilities: ₹15 crore - Funding the working capital requirements of our Company: ₹60 crore - General corporate purposes(1): amount not fixed yet ## Fact-checked claims - **LOW** (SubsidiaryPerformance): The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations) mandate financial disclosures and corporate governance standards for listed companies.. The search results confirm that Koolking Industries India has filed IPO papers and a DRHP, which relates to the context of financial disclosures for a listed company. One result mentions the filing of draft papers, while others focus on the IPO details and financial performance reported in the prospectus. - **LOW** (SubsidiaryPerformance): The Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 (SEBI SBEB & SE Regulations) govern share-based employee benefit schemes.. The search results confirm that Koolking Industries India has filed IPO papers and a DRHP, which is relevant to the context of the claim. However, the search results do not explicitly mention the specific regulation cited (SEBI SBEB & SE Regulations) in relation to share-based employee benefits schemes. - **LOW** (SubsidiaryPerformance): Various regulations from the SEBI include the SEBI Act, which grants SEBI comprehensive powers to regulate securities markets.. The search results confirm that Koolking Industries India has filed IPO papers and a DRHP, which implies regulatory oversight by SEBI. However, the search results do not explicitly state the comprehensive powers granted by the SEBI Act in the manner described by the claim. - **LOW** (SubsidiaryPerformance): The Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2012 (SEBI ILNCS Regulations) govern the issuance and listing of debt and non-convertible securities.. The search results confirm that Koolking Industries India has filed IPO papers and DRHP, indicating an ongoing process with the market regulator. However, the search results do not explicitly state whether the SEBI ILNCS Regulations govern the issuance and listing of debt and non-convertible securities, only that the company filed papers with SEBI. - **NONE** (PromoterBackground): The Company has a lease agreement with Malti Sood for a portion of Punjab Manufacturing Facility Unit I.. The provided search results do not contain any information that corroborates, contradicts, or updates the claim regarding a lease agreement between the company and Malti Sood for a portion of the Punjab Manufacturing Facility Unit I. - **NONE** (PromoterBackground): Varun Gopal is the Managing Director and Chief Executive Officer of the Company.. The provided search results do not contain any information confirming or denying the claim that Varun Gopal is the Managing Director and Chief Executive Officer of Koolking Industries India Limited. The results mention the company in the context of draft papers filing with SEBI, but do not specify the MD/CEO. - **NONE** (PromoterBackground): Malti Sood is a Whole-time Director of the Company.. The provided search results do not contain any information that corroborates or contradicts the claim that Malti Sood is a Whole-time Director of Koolking Industries India Limited. The search results primarily relate to SEBI news, legal professionals, and IPO activity. - **NONE** (PromoterBackground): Sajiv Gopal is the Chairperson and Whole-time Director of the Company.. The provided search results do not contain any information that corroborates or contradicts the claim that Sajiv Gopal is the Chairperson and Whole-time Director of Koolking Industries India Limited. The search results primarily mention IPO activity involving Koolking Industries and other firms. - **NONE** (PromoterBackground): Malti Sood holds 27.58% of the pre-Offer Equity Share capital.. The provided search results do not contain any information that directly corroborates or contradicts the claim that Malti Sood holds 27.58% of the pre-Offer Equity Share capital in Koolking Industries India Limited. The results mention the filing of draft papers by Koolking Industries with SEBI but do not specify the ownership details of Malti Sood. - **NONE** (PromoterBackground): Sajiv Gopal holds 36.58% of the pre-Offer Equity Share capital.. The provided search results do not contain any direct information corroborating or contradicting the claim that Sajiv Gopal holds 36.58% of the pre-Offer Equity Share capital in Koolking Industries India Limited. The results primarily mention the filing of draft papers by Koolking Industries with SEBI and general market news. - **NONE** (PromoterBackground): Vikas Verma is the Chief Financial Officer of the Company and has been associated with the Company since May 18, 2026.. The provided search results do not contain any information regarding Vikas Verma being the Chief Financial Officer of Koolking Industries India Limited or any association with the company since May 18, 2026. Therefore, the claim cannot be corroborated or contradicted by the available sources. - **NONE** (PromoterBackground): The Corporate Social Responsibility Committee was constituted pursuant to a Board resolution dated July 10, 2026, in compliance with Section 135 of the Companies Act.. The search results mention Koolking Industries in the context of filing draft papers with SEBI, but they do not provide any information regarding the constitution of a Corporate Social Responsibility Committee pursuant to a Board resolution dated July 10, 2026, or compliance with Section 135 of the Companies Act. ## Common questions ### How big is the Koolking Industries India Limited IPO? Koolking Industries India Limited's IPO comprises a fresh issue of ₹300 Cr and an offer for sale of 30.5 lakh shares, according to its Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus. ### What are Koolking Industries India Limited's revenue and profit? Koolking Industries India Limited reported revenue from operations of ₹527 Cr in FY26, +9.0% versus FY25. Net profit was ₹33 Cr (FY25: ₹27 Cr). Revenue grew at a compound rate of 48.2% a year from FY24 to FY26. Figures are read from the DRHP, as printed there. ### How much do promoters own in Koolking Industries India Limited? Promoters hold 87.8% of Koolking Industries India Limited before the IPO. ### How will Koolking Industries India Limited use the IPO money? The fresh-issue proceeds are earmarked for: Funding the capital expenditure towards the Proposed Projects (₹138 Cr); Funding the capital expenditure towards purchase of new machinery and equipment at our existing Manufacturing Facilities (₹15 Cr); Funding the working capital requirements of our Company (₹60 Cr); General corporate purposes (amount not fixed yet). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Koolking Industries India Limited's DRHP? We fact-checked 40 claims from the filing against the open web: 0 raised a high concern, 0 medium and 4 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does Koolking Industries India Limited do? Here’s a detail you probably missed: while Koolking Industries India has filed for an IPO, the public search results don't clearly show the exact scope of powers granted to them under the SEBI Act. That’s a gap you need to understand before you invest or look deeper. ### Who manages the Koolking Industries India Limited IPO? Book running lead managers: Keynote Financial Services Limited. Registrar to the offer: KFin Technologies Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Koolking Industries India Limited IPO documents? All 1 filing for Koolking Industries India Limited (DRHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [Koolking Industries India Limited – DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/oct-2026/1790839813298_1380.pdf) (Draft Red Herring Prospectus, filed 1 Oct 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.