The Kizi Apparels IPO is a fixed price issue valued at Rs 5.58 crores, comprising a fresh issue of 26.58 lakh shares.
Bidding for the Kizi Apparels IPO opened on July 30, 2024, and will close on August 1, 2024. The allotment is expected to be finalized on Friday, August 2, 2024, with the IPO listing on BSE SME on Tuesday, August 6, 2024.
The IPO price is set at ₹21 per share. The minimum lot size for application is 6000 shares, requiring a minimum investment of ₹126,000 for retail investors. For HNIs, the minimum investment is 2 lots (12,000 shares), amounting to ₹252,000.
- Book Running Lead Manager – Interactive Financial Services Ltd.
- Registrar – Bigshare Services Pvt. Ltd.
- Market Maker – Beeline Broking.
Below are the details of Kizi Apparels Limited IPO 2024 Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Kizi Apparels Limited IPO 2024 Details
| IPO Date | July 30, 2024 to August 1, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹21 per share |
| Lot Size | 6000 Shares |
| Total Issue Size | 2,658,000 shares (aggregating up to ₹5.58 Cr) |
| Fresh Issue | 2,658,000 shares (aggregating up to ₹5.58 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 5,161,200 |
| Share holding post issue | 7,819,200 |
| Market Maker portion | 138,000 shares |
Kizi Apparels IPO 2024 Timeline
| IPO Open Date | Tuesday, July 30, 2024 |
| IPO Close Date | Thursday, August 1, 2024 |
| Basis of Allotment | Friday, August 2, 2024 |
| Initiation of Refunds | Monday, August 5, 2024 |
| Credit of Shares to Demat | Monday, August 5, 2024 |
| Listing Date | Tuesday, August 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 1, 2024 |
Kizi Apparels IPO 2024 Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6000 | ₹126,000 |
| Retail (Max) | 1 | 6000 | ₹126,000 |
| HNI (Min) | 2 | 12,000 | ₹252,000 |
Kizi Apparels Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 138,000 (5.19%) |
| Other Shares Offered | 1,260,000 (47.40%) |
| Retail Shares Offered | 1,260,000 (47.40%) |
| Total Shares Offered | 2,658,000 (100%) |
Kizi Apparels IPO Promoters
The promoters of the company are Abhishek Nathani and Kiran Nathani.
| Share Holding Pre Issue | 85.36% |
| Share Holding Post Issue | 56.35% |
Kizi Apparels Limited IPO 2024 Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 1,340.30 | 1,135.10 | 725.14 |
| Revenue | 2,027.37 | 1,549.50 | 539.17 |
| Profit After Tax | 72.21 | 54.97 | 20.64 |
| Net Worth | 587.49 | 394.86 | 336.95 |
| Reserves and Surplus | 71.37 | ||
| Total Borrowing | 514.61 | 310.96 | 242.73 |
| Amount in ₹ Lakhs | |||
Kizi Apparels Limited IPO Review
Kizi Apparels Ltd. (KAL) manufactures and trades ready-made garments through its showrooms, distributors, malls, and online platforms. The company gained momentum in 2019 through a collaboration with Arvind Lifestyle Brand Limited and launched its own brand, “ANUTARRA,” in women’s ethnic wear. It listed products on major e-commerce platforms in FY 2019-20 and scaled up its business by partnering with Reliance Retail in 2020. In 2021, KAL introduced “KIZI,” a women’s western wear brand. Operating on B2B and D2C models, KAL also provides job-working services for renowned brands like Fab India.
Kizi Apparels is launching its IPO with 2,658,000 equity shares at a fixed price of ₹21 per share, aiming to raise ₹5.58 crores. The subscription period is from July 30, 2024, to August 1, 2024. The IPO constitutes 33.99% of the post-IPO paid-up capital, with proceeds allocated for loan repayment, working capital, and general corporate purposes. Despite the company’s steady financial growth, the IPO appears aggressively priced. Investors should consider a medium-term investment strategy.