Kizi Apparels IPO Opens with Strong Initial Subscription
Kizi Apparels Limited, a burgeoning name in the ready-to-wear clothing industry, has launched its initial public offering (IPO). The IPO opened for subscription on July 30, 2024, and will close on August 1, 2024. The company’s debut on the public market has already garnered significant interest, with the issue being subscribed over 4.58 times on its first day.
About Kizi Apparels
Established in March 2023, Kizi Apparels Limited specializes in producing and selling ready-to-wear clothing. The company operates through a multi-channel approach, including its own showrooms, distributors, malls, and an online presence. Kizi Apparels offers premium ethnic and Western women’s apparel under the brands ANUTARRA and KIZI, making it a notable player in the fashion industry.
IPO Subscription Details
On the first day of the IPO subscription, Kizi Apparels received a substantial response. The IPO saw 1,15,44,000 applications against the 25,20,000 shares on offer. According to data from Chittorgarh.com, the IPO was oversubscribed by 4.58 times.
The subscription figures reveal robust interest across different investor categories:
- Retail Investors: The retail portion of the IPO was subscribed 7.89 times, indicating strong demand from individual investors.
- Non-Institutional Investors (NII): This category was subscribed 1.27 times, reflecting a moderate interest from non-institutional players.
IPO Structure and Pricing
The Kizi Apparels IPO is a fixed-price issue, with the shares priced at ₹21 each. The total issue size is ₹5.58 crores, with 26.58 lakh shares being offered.
- Issue Open Date: July 30, 2024
- Issue Close Date: August 1, 2024
- Price Per Share: ₹21
- Minimum Lot Size: 6,000 shares
Allocation and Key Players
The IPO includes 2,658,000 shares allocated as follows:
- Non-Institutional Investors (NII): 1,260,000 shares (47.40%)
- Retail Individual Investors (RII): 1,260,000 shares (47.40%)
Interactive Financial Services Ltd is serving as the book-running lead manager for the IPO, ensuring the smooth execution of the issue. Bigshare Services Pvt Ltd is the registrar, managing the allotment and share distribution process. Beeline Broking is the market maker for the IPO, facilitating liquidity and market-making activities.
Promoters
Kizi Apparels is led by its promoters, Abhishek Nathani and Kiran Nathani. Their leadership has been pivotal in the company’s rapid growth and expansion in the competitive fashion market.
What to Expect Next
Investors interested in participating in the Kizi Apparels IPO have until August 1, 2024, to submit their applications. With the IPO showing strong initial interest, it’s anticipated that the final subscription figures will reflect continued enthusiasm from the market.
The allotment of shares will be determined after the subscription period closes, and investors can check their allotment status through the registrar’s website. The listing date, when shares will start trading on the stock exchange, will be announced following the closure of the IPO.
Conclusion
Kizi Apparels Limited’s IPO has generated significant traction on its opening day, underscoring investor confidence in the company’s growth prospects. With a robust subscription rate and strong interest from both retail and non-institutional investors, the IPO is poised to make a notable impact in the SME sector. Investors should stay tuned for further updates and ensure they complete their applications before the closing date.
Disclaimer: The opinions and recommendations provided herein are those of individual analysts or brokerage firms and do not necessarily reflect the views of OSTP Media. Investors are encouraged to consult with certified financial experts before making any investment decisions.
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