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IRIS Clothings IPO is a fixed price issue of ₹11.07 crores. The issue is entirely a fresh issue of 0.12 crore shares of ₹11.07 crore.
IRIS Clothings IPO bidding started from Oct 10, 2018 and ended on Oct 12, 2018. The allotment for IRIS Clothings IPO was finalized on Oct 17, 2018. The shares got listed on NSE SME on Oct 23, 2018.
IRIS Clothings IPO price is ₹90.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹1,44,000 (1600 shares). The minimum lot size investment for HNI is 2 lots (3,200 shares), amounting to ₹2,88,000.
VC Corporate Advisors Pvt.Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The market maker of the company is Choice Equity Broking Pvt.Ltd..
Refer to IRIS Clothings IPO RHP for detailed Information.
| IPO Date | October 10, 2018 to October 12, 2018 |
| Listing Date | October 23, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹90 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 12,30,400 shares (aggregating up to ₹11.07 Cr) |
| Reserved for Market Maker | 62,400 shares Choice Equity Broking Pvt.Ltd. (aggregating up to ₹0.5616 Cr) |
| Net Offered to Public | 11,68,000 shares (aggregating up to ₹10.51 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 34,30,779 shares |
| Share Holding Post Issue | 46,61,179 shares |
Iris Clothings DoReMe IPO offers total 12,30,400 shares. Out of which 5,84,000 (47.46%) allocated to NII, 5,84,000 (47.46%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 62,400 (5.07%) |
| NII (HNI) Shares Offered | 5,84,000 (47.46%) |
| Retail Shares Offered | 5,84,000 (47.46%) |
| Total Shares Offered | 12,30,400 (100.00%) |
IRIS Clothings IPO opens on October 10, 2018, and closes on October 12, 2018.
| IPO Open Date | Wed, Oct 10, 2018 |
| IPO Close Date | Fri, Oct 12, 2018 |
| Tentative Allotment | Wed, Oct 17, 2018 |
| Initiation of Refunds | Wed, Oct 17, 2018 |
| Credit of Shares to Demat | Fri, Oct 19, 2018 |
| Tentative Listing Date | Tue, Oct 23, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Oct 12, 2018 |
Investors can bid for a minimum of 1,600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,44,000 |
| Retail (Max) | 1 | 1,600 | ₹1,44,000 |
| HNI (Min) | 2 | 3,200 | ₹2,88,000 |
Incorporated in 2004, Kolkata based Iris Clothing Limited is a company engaged in the business of Manufacturing, Designing, Branding and Selling of Kids Wear. The company sells its products under the brand name DoReMe in India.
The company makes different kinds of products for kids wear including Tops, T?shirts, Pants, Dresses, Shorts, Frocks, and Towels etc.
Iris Clothing has an active distribution network of over 60 distributors across cities with reach to more than 4,000+ retailers.
The total revenue of the company ( as restated) for the year 2018, 2017 and 2016 were Rs. 5,310.12 lakhs, Rs. 4,689.14 and Rs. 3,699.20 respectively.
The restated PAT for the year 2018, 2017 and 2016 were Rs. 337.09 lakhs, Rs. 159.73 lakhs and Rs. 64.61 lakhs respectively.
The company has more than 600 employees on its payroll.
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 30-Jun-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 4,042.83 | 3,978.58 | 3,182.40 | 2,661.01 | 2,968.46 | 2,893.88 |
| Total Revenue | 1,484.70 | 5,310.12 | 4,689.14 | 3,699.20 | 3,009.49 | 2,498.51 |
| Profit After Tax | 117.08 | 337.90 | 159.73 | 64.61 | 24.23 | 68.08 |
The Company IRIS Clothings IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Incremental Working Capital Requirement | 8.50 |
| 2 | Issue Expenses | 0.50 |
| 3 | General Corporate Purposes | 2.07 |
[Dilip Davda] <p>Issue is attractively priced. Encouraging financial track record indicates future prospects. LM’s track record is the concern. Investors may consider investment in this kids wear sector issue for long term.</p> Read detail review...
| Listing Date | October 23, 2018 |
| BSE Script Code | |
| NSE Symbol | IRISDOREME |
| ISIN | INE01GN01017 |
| Final Issue Price | ₹90 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹90.00 |
| Open | ₹92.00 |
| Low | ₹89.00 |
| High | ₹92.00 |
| Last Trade | ₹90.00 |
IRIS Clothings Ltd.
103/24/1, Foreshore Road
Shibpur
Binani Metal Compound
Howrah, West Bengal, 711102
Phone: +91-33-26373856
Email: accounts@irisclothings.in
Website: http://www.doreme.in/
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: cameo@cameoindia.com
Website: https://ipo.cameoindia.com/
IRIS Clothings IPO is a SME IPO of 12,30,400 equity shares of the face value of ₹10 aggregating up to ₹11.07 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 1600.
The IPO opens on October 10, 2018, and closes on October 12, 2018.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in IRIS Clothings IPO using UPI as a payment gateway. Zerodha customers can apply in IRIS Clothings IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in IRIS Clothings IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The IRIS Clothings IPO opens on October 10, 2018 and closes on October 12, 2018.
IRIS Clothings IPO lot size is 1600, and the minimum amount required for application is ₹1,44,000.
You can apply in IRIS Clothings IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for IRIS Clothings IPO will be done on Wednesday, October 17, 2018, and the allotted shares will be credited to your demat account by Friday, October 19, 2018. Check the IRIS Clothings IPO allotment status.
The IRIS Clothings IPO listing date is on Tuesday, October 23, 2018.
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