Kizi Apparels IPO Subscribed More Than 100 Times On Final Day

The initial public offering (IPO) of Kizi Apparels Ltd. opened for subscription on July 30. The Kizi Apparels IPO is a fixed price issue valued at Rs 5.58 crore. The offering consists entirely of a fresh issue, with 26.58 lakh shares being made available to investors. The SME IPO was subscribed 4.58 times on day 1 and 13.21 times at the end of day 2.

The IPO was subscribed 115.60 times as of 06:17 p.m. on Thursday.

• Non-institutional buyers: 89.58 times.

• Retail investors: 139.62 times.

• Market maker: 1 time.

The SME IPO will be priced at a fixed price of Rs 21 per share. Retail investors are required to invest a minimum of Rs 1,26,000 for a lot size of 6,000 shares, while High-worth individuals need to apply for a minimum of 12,000 shares, amounting to Rs 2,52,000.

The IPO will close on August 1. The IPO allotment results are expected to be finalised on Friday, August 2 with the listing scheduled on BSE SME for Tuesday, August 6.

Interactive Financial Services Ltd. is the book-running lead manager for this IPO, while Bigshare Services Pvt. Ltd. will act as the registrar. Beeline Broking is appointed as the market maker for the issue.

As per the IPO's red herring prospectus, 50% of the net issue has been reserved for retail investors.

Incorporated in March 2023, Kizi Apparels Limited specialises in the production and trading of ready-to-wear clothing. The company operates through its showrooms, distributors, malls, and an online platform.

It offers premium ethnic and Western women’s apparel under the brands ANUTARRA and KIZI. The company’s diverse product portfolio includes kurti sets, churidaar, co-ord sets, semi-formal blazers, shirts, blouses, tops/tunics, dresses, palazzos, skirts, and dupattas. Kizi Apparels caters to customers across India through its e-commerce platform.

The funds raised from the IPO will be allocated towards several key objectives. The primary uses include repayment of unsecured loans, meeting long-term working capital requirements, and covering general corporate purposes. Additionally, a portion of the proceeds will be used to cover public issue expenses.

Kizi Apparels Ltd. has shown promising financial growth. For the financial year ending March 31, 2024, the company's revenue increased by 30.84% compared to the previous year. Profit After Tax also saw a rise of 31.36% over the same period, reflecting the company's strong financial performance and positive market outlook.

Disclaimer: Potential investors are advised to review the IPO prospectus and consult with financial advisors to understand the risks and rewards associated with investing in any particular IPO. The above article is meant for informational purposes only, and should not be considered as any investment advice.