Kizi Apparels IPO: Important details about Upcoming IPO

• Kizi Apparels IPO is a book-built issue of Rs 5.58 crores.
• This upcoming IPO bidding opens on July 30 and closes on August 1, 2024.
• Kizi Apparel's SME IPO price is set at Rs 21 per share.
• The minimum amount required for retail investors is Rs 1,26,000.

Kizi Apparels IPO: Synopsis

Kizi Apparels is open for subscription from Tuesday, July 30, 2024, and closing on Thursday, August 1, 2024. The price for this IPO is set to Rs 21 per share.

Kizi Apparels IPO is offering a book-built public issue of an entirely fresh issue of 26.58 lakh equity shares. The allotment for this new IPO is expected to be finalised on Friday, August 2, 2024. This IPO will be listed on the NSE SME segment on Tuesday, August 6, 2024.

The minimum lot size set for the retail category is 1 lot, i.e., 6000 shares. For retail investors, the minimum and maximum investment amount required is Rs 126,000. However, for the HNI category the maximum lot size is 2 lots i.e., 12,000 shares amounting to Rs 252,000.

The IPO is managed by Interactive Financial Services, which is the lead manager of this public issue. The company has appointed Bigshare Services Private Limited as the registrar for the issue.

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Kizi Apparels Limited: About the Company

Kizi Apparels Limited, incorporated in March 2023, produces and trades ready-to-wear clothing through its showrooms, distributors, malls, and online platforms. The company has launched an e-commerce platform offering premium ethnic and Western women's apparel under the brand names ANUTARRA and KIZI, respectively, catering to customers across India.

The product portfolio includes kurta sets, kurtas, churidars, co-ord sets, semi-formal blazers, shirts, blouses, tops/tunics, dresses, palazzos, skirts, and dupattas. As of June 30, 2024, Kizi Apparels Limited has 18 permanent employees in various departments, excluding the company directors.

Kizi Apparels IPO: Objectives

The company plans to allocate the Net Proceeds from the issue for several key purposes. These include repaying unsecured loans, addressing long-term working capital requirements, supporting general corporate purposes, and covering expenses related to public issue.

Kizi Apparels IPO: Other Important Details

Time-Table of Kizi Apparels IPO

Kizi Apparels IPO: Financial Metrics (Amt in Rs Lakhs)

The company's revenue was reported to be Rs 20.27 crore for the year ended March 2024, which shows an increase of 30.84% as compared to March 2023. The profit after tax rose by 31.36% for the year ended March 2024 compared to March 2023. 

Minimum Investment: Lot Size Details

Promoters of Kizi Apparels Limited and Their Holdings

The company’s promoters are Abhishek Nathani and Kiran Nathani. The promoters collectively held 85.36% of the company's shares. However, post-IPO, the change in their combined shareholding to be 56.35%.

Kizi Apparels: Strength of Company

1. Kizi Apparels involved in the production and trading of ready-to-wear clothing through our own showrooms, distributors, malls, and online platform.

2. The company caters to all over India through its online platform.

3. The company's net profit increased by 31.36% for FY24

FAQs

1.  What are the core details available of Kizi Apparels IPO?

Kizi Apparels IPO is a book-built issue of Rs 5.58 crore. This upcoming IPO offering entirely a fresh issue of 26.58 lakh equity shares. The allotment for this new IPO is expected to be finalised on Friday, August 2, 2024.

2.  How can I apply for the Kizi Apparels IPO?

The public subscription of this new IPO opens on July 30 and close on August 1, 2024. Click here to initiate the application process.

3.  Who are the lead managers for the Kizi Apparels IPO?

Interactive Financial Services was appointed as the book-running lead manager for the IPO.

4.  Who is appointed as the registrar for this IPO?

Bigshare Services Limited has been appointed as the registrar for this public issue.

5.  How will the net proceeds from the IPO be utilised?

The company plans to allocate the Net Proceeds from the issue for several key purposes. These include repaying unsecured loans, addressing long-term working capital requirements, supporting general corporate purposes, and covering expenses related to the public issue.

6.  How can I check the allotment status of the IPO?

Investors who applied for IPO can check the allotment status of Kizi Apparels IPO by visiting here, for further updates, follow Bigul. 

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