Kizi Apparels
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 30 Jul 2024 – 01 Aug 2024
- Listing date
- 06 Aug 2024
- Face value
- ₹10 per share
- Issue price
- ₹21 per share
- Lot size
- 6,000 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹5.58 Cr
- Market cap at offer price
- ₹16.42 Cr
- Promoter holding
- 85.36% → 56.35% pre-issue → post-issue
- ISIN
- INE0RMR01013
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Interactive Financial Services Ltd.
- Registered office
- H-629, Phase-II, Sitapura Industrial Area, Sanganer, Rajasthan
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 1,38,000 | — | — |
Application size
Minimum 6,000 shares per lot, in multiples, at ₹21
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 6,000 | ₹1,26,000 |
| S-HNI (min) | 2 | 12,000 | ₹2,52,000 |
| S-HNI (max) | 7 | 42,000 | ₹8,82,000 |
| B-HNI (min) | 8 | 48,000 | ₹10,08,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 1.40 | 0.92 |
| P/E (×) | 15.00 | 22.83 |
| Price to book (×) | 1.85 | — |
| Market cap | — | ₹16.42 Cr |
Key performance indicators
- Return on net worth
- 12.29%
- ROCE
- 14.00%
- Debt / equity
- 0.88
- PAT margin
- 4.00%
- NAV per share
- ₹11.38
- Price to book
- 1.85
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Kizi Apparels
Kizi Apparels Limited (KAL) was incorporated on March 24, 2023 at Jaipur, Rajasthan as a private limited company and was converted into a public limited company on August 09, 2023. Through a slump-sale Business Purchase Agreement dated June 01, 2023, the company acquired the ongoing business of M/s Aaika Creations, the proprietorship of Promoter & Managing Director Abhishek Nathani, who has been in garment designing, manufacturing and trading for about six years (the proprietorship was established in November 2017). Today the company is engaged in manufacturing and trading of readymade garments — women's ethnic wear under the 'ANUTARRA' brand and women's western wear under the 'KIZI' brand — sold through its own showrooms, distributors, malls, e-commerce platforms and its own website. Its operations span five streams: B2B white-label manufacturing to buyer specifications (garments labelled with the customer's brand), B2B supply of own-brand products to traders and wholesalers, cut-to-pack job work on buyer-supplied fabric, value addition (embroidery/handwork/buttoning) to semi-finished goods sold under its brand, and direct-to-consumer (D2C) e-commerce. Key customer relationships include regular manufacturing for Reliance Retail (agreement dated May 30, 2023 for a three-year term), a product-supply arrangement with Absolute Brands and Retails Private Limited (June 05, 2023), and a vendor agreement to manufacture branded products for Fab India Limited on job-work basis (June 21, 2023). It operates from a leased ~700 sq.m. registered office-cum-factory at Sitapura Industrial Area, Jaipur, with 18 permanent employees as of June 30, 2024. Revenue from operations rose to ₹2,026.51 lakhs in FY 2023-24 (profit after tax ₹72.21 lakhs) from ₹1,548.05 lakhs in FY 2022-23, with about 99.6% of FY24 sales offline and the remainder via e-commerce.
Company Analysis
from RHPKizi Apparels Limited manufactures and trades readymade women's garments — ethnic wear under its 'Anutarra' brand and western wear under its 'Kizi' brand — spanning apparel manufacturing and fashion retail (offline and online).
Kizi Apparels Limited (KAL) was incorporated on March 24, 2023 at Jaipur, Rajasthan as a private limited company and was converted into a public limited company on August 09, 2023. Through a slump-sale Business Purchase Agreement dated June 01, 2023, the company acquired the ongoing business of M/s Aaika Creations, the proprietorship of Promoter & Managing Director Abhishek Nathani, who has been in garment designing, manufacturing and trading for about six years (the proprietorship was established in November 2017). Today the company is engaged in manufacturing and trading of readymade garments — women's ethnic wear under the 'ANUTARRA' brand and women's western wear under the 'KIZI' brand — sold through its own showrooms, distributors, malls, e-commerce platforms and its own website. Its operations span five streams: B2B white-label manufacturing to buyer specifications (garments labelled with the customer's brand), B2B supply of own-brand products to traders and wholesalers, cut-to-pack job work on buyer-supplied fabric, value addition (embroidery/handwork/buttoning) to semi-finished goods sold under its brand, and direct-to-consumer (D2C) e-commerce. Key customer relationships include regular manufacturing for Reliance Retail (agreement dated May 30, 2023 for a three-year term), a product-supply arrangement with Absolute Brands and Retails Private Limited (June 05, 2023), and a vendor agreement to manufacture branded products for Fab India Limited on job-work basis (June 21, 2023). It operates from a leased ~700 sq.m. registered office-cum-factory at Sitapura Industrial Area, Jaipur, with 18 permanent employees as of June 30, 2024. Revenue from operations rose to ₹2,026.51 lakhs in FY 2023-24 (profit after tax ₹72.21 lakhs) from ₹1,548.05 lakhs in FY 2022-23, with about 99.6% of FY24 sales offline and the remainder via e-commerce.
Objects of the Issue
- Repayment of unsecured Loans (loans availed from various NBFCs) ₹29.50 Lakhs p.61
- Funding long-term Working capital requirement ₹348.68 Lakhs p.59
- General corporate purposes (not to exceed 25% of the gross proceeds) ₹120.00 Lakhs (of Net Proceeds) p.62
- Meeting Public Issue Expenses ₹60.00 Lakhs (estimated issue-related expenses, deducted from gross proceeds) p.63
Issue Structure
- Total Issue
- 26,58,000 Equity Shares aggregating to ₹558.18 Lakhs
- Fresh Issue
- Entire issue is a Fresh Issue of 26,58,000 Equity Shares aggregating to ₹558.18 Lakhs (includes Market Maker Reservation Portion of 1,38,000 Equity Shares aggregating ₹28.98 Lakhs; Net Issue to the Public of 25,20,000 Equity Shares aggregating ₹529.20 Lakhs)
- Price Band
- Fixed Price Issue at ₹21/- per Equity Share (including a share premium of ₹11/- per Equity Share); Issue Price is 2.1 times the face value
- Lot Size
- 6,000 Equity Shares and in multiples thereof
- Face Value
- ₹10 per Equity Share
Business Model
Earns revenue from manufacturing and trading readymade garments across five streams: (1) B2B white-label production of customised goods to buyer specifications, labelled with the customer's brand and delivered to desired locations; (2) B2B supply of products under its own brands (Anutarra/Kizi) to traders and wholesalers; (3) job work (cut-to-pack) on buyer-supplied fabric; (4) value addition to semi-finished goods (manual embroidery, handwork, buttoning) sold to traders/wholesalers under its own brand; and (5) direct-to-consumer sales via its recently launched e-commerce platform/own website, own showrooms, distributors, malls and third-party e-commerce platforms.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Abhishek Nathani | Promoter (and Managing Director) | 85.28% | 56.29% |
| Kiran Nathani | Promoter (and Director/CFO) | 0.08% | 0.05% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.