Shine Fashions SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 22 Oct 2020 – 26 Oct 2020
- Listing date
- 02 Nov 2020
- Face value
- ₹10 per share
- Issue price
- ₹40 per share
- Lot size
- 3,000 shares
- Total issue size
- ₹1.60 Cr
- ISIN
- INE0BLY01015
- Registrar
- Cameo Corporate Services Ltd.
- Lead managers
- Shreni Shares Ltd.
- Registered office
- Office no. 605, 6th floor, Marathon Chamber, P.K, Panch Rasta,, Mulund West,, Maharashtra
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 | 21,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹40
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,20,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,40,000 |
| S-HNI (max) | 8 | 24,000 | ₹9,60,000 |
| B-HNI (min) | 9 | 27,000 | ₹10,80,000 |
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 |
|---|
About Shine Fashions SME
Shine Fashions (India) Limited was incorporated as a public limited company on September 11, 2019, and subsequently acquired the entire business of M/s. A. M. Fabrics (a sole proprietorship concern of promoter Mr. Anil Mehta) on September 30, 2019. The company is primarily engaged in importing, supplying and trading of non-woven interlining fabrics, woven fusible interlinings and microdot fusible interlinings. The company sources products from reliable manufacturers and offers high-grade quality products to customers in diverse specifications and sizes, delivered within stipulated timeframes and with safe packing to ensure accurate delivery.
Company Analysis
from RHPShine Fashions (India) Limited imports, supplies and trades non-woven interlining fabrics, woven fusible interlinings and microdot fusible interlinings for the textile industry.
Shine Fashions (India) Limited was incorporated as a public limited company on September 11, 2019, and subsequently acquired the entire business of M/s. A. M. Fabrics (a sole proprietorship concern of promoter Mr. Anil Mehta) on September 30, 2019. The company is primarily engaged in importing, supplying and trading of non-woven interlining fabrics, woven fusible interlinings and microdot fusible interlinings. The company sources products from reliable manufacturers and offers high-grade quality products to customers in diverse specifications and sizes, delivered within stipulated timeframes and with safe packing to ensure accurate delivery.
Objects of the Issue
- To meet Working Capital requirements ₹100.00 Lakhs p.16
- General Corporate Purpose ₹19.60 Lakhs p.16
- To meet the Issue Expenses ₹40.00 Lakhs p.16
- To meet Working Capital requirements ₹100.00 Lakhs p.65
- General Corporate Purpose ₹19.60 Lakhs p.65
- To meet issue expenses ₹40.00 Lakhs p.65
- Not explicitly stated in this section of the document
Issue Structure
- Total Issue
- ₹159.60 Lakhs
- Fresh Issue
- ₹159.60 Lakhs (3,99,000 Equity Shares of Face Value of Rs. 10/- each at Issue Price of Rs. 40/- per share)
- Price Band
- ₹40.00 per Equity Share (Fixed Price)
- Lot Size
- 3,000 Shares
- Face Value
- ₹10.00 per Equity Share
Business Model
The company operates as a trading concern, importing interlining fabrics primarily from China and supplying them to customers. Revenue is generated through the sale of these traded products to customers on an order-by-order basis. For the period ended May 31, 2020, the company's 5 largest customers accounted for approximately 89.89% of total revenue, and the top 5 suppliers contributed around 42.58% of total purchases.
Business Segments
SWOT Analysis
- • Established business operations with prior proprietorship experience(p.16)
- • Long-standing customer relationships(p.23)
- • Strong existing supplier relationships(p.24)
- • Revenue concentration provides strategic focus(p.23)
- • Experienced promoters with textile industry background and proven track record(p.82)
- • Established supplier relationships with favorable terms(p.82)
- • Strong quality assurance practices and mechanisms(p.82)
- • Existing customer base providing continuous business(p.82)
- • Severe dependence on few customers creates vulnerability(p.23)
- • No long-term customer contracts(p.23)
- • High trade receivables exposure(p.24)
- • No long-term supplier agreements(p.24)
- • Heavy promoter dependence for operations(p.27)
- • Limited operating history as a company(p.25)
- • Rented premises with relocation risk(p.25)
- • High volume-low margin business model(p.24)
- • No insurance coverage(p.29)
- • Unregistered trademark(p.27)
- • Geographic concentration in Maharashtra(p.25)
- • Heavy dependence on working capital with significant inventory and receivables(p.66)
- • Concentrated operations limited to Mumbai region(p.83)
- • No formal dividend policy established(p.116)
- • Small size with limited capital base compared to competitors(p.85)
- • Limited insurance coverage for operational risks(p.86)
- • High dependence on limited customer base(p.140)
- • Significant reliance on few suppliers(p.142)
- • No long-term customer contracts(p.142)
- • Minimal fixed asset base(p.120)
- • Large inventory concentration(p.120)
- • Growth in Indian textile exports(p.16)
- • Diverse product capacity to serve multiple market segments(p.16)
- • Government incentives for textile sector(p.30)
- • Geographic expansion strategy(p.24)
- • Geographic expansion to leverage existing relationships and manufacturing network(p.82)
- • Enter new geographies to increase customer base beyond Mumbai(p.83)
- • Strong Indian textile industry growth with government support(p.81)
- • Expanding distribution network to capture new regional markets(p.83)
- • Government initiatives supporting textile sector investment(p.80)
- • Import and supply of specialty fabrics(p.140)
- • Customized product offerings(p.140)
- • SME platform listing and potential migration(p.166)
- • Capital market access via IPO(p.140)
- • Dependence on third-party manufacturers(p.24)
- • Supply disruption from COVID-19 and trade restrictions(p.23)
- • Market price fluctuations for textiles(p.24)
- • Foreign exchange risk exposure(p.28)
- • Intense competition in textile industry(p.30)
- • Regulatory and policy changes(p.32)
- • Natural calamities and supply disruption(p.23)
- • Labour unrest and unionization risk(p.30)
- • Political and economic instability in India(p.34)
- • Global economic and political risks(p.34)
- • Terrorist attacks and civil unrest(p.35)
- • Intense competition from larger competitors with broader product ranges(p.85)
- • Promoter conflict of interest through involvement in competing entities(p.113)
- • Global economic slowdown impacting textile demand(p.75)
- • Vulnerability to currency fluctuations on imports(p.81)
- • Dependence on third-party transport and logistics providers(p.84)
- • Foreign exchange rate fluctuations(p.140)
- • Increased competition in textiles sector(p.140)
- • Customer product defects risk(p.140)
- • Regulatory and legislative changes(p.140)
- • Macroeconomic and political risks(p.140)
- • Supply chain and logistics dependency(p.140)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Anish Anil Mehta | Promoter | 40.005% | 28.60% |
| Mr. Anil Zaverchand Mehta | Promoter | 29.97% | 21.42% |
| Mrs. Binal Anish Mehta | Promoter Group | 30.005% | 21.45% |
| Mrs. Purvi Anil Sanghvi | Promoter Group | 0.005% | 0.004% |
| Mr. Anish Anil Mehta | Promoter | 40.005% | — |
| Mr. Anil Zaverchand Mehta | Promoter | 29.97% | — |
| Anil Zaverchand Mehta | Promoter/Non-Executive Director | 29.97% | — |
| Anish Anil Mehta | Promoter/Managing Director | 40.01% | — |
| Binal Anish Mehta | Promoter | 30.01% | — |
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.