Fixed Price IPO | ₹11 Cr | Listed at NSE SME | Wed, Oct 10, 2018 - Fri, Oct 12, 2018
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Wed, Oct 10, 2018
IPO Close
Fri, Oct 12, 2018
Issue Price
₹90 per share
Market Cap (Pre-IPO)
₹41.95 Cr
| IPO Date | 10 to 12 Oct, 2018 |
| Listed on | Tue, Oct 23, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹90 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 12,30,400 shares (agg. up to ₹11 Cr) |
| Reserved for Market Maker | 62,400 shares Choice Equity Broking Pvt.Ltd. (agg. up to ₹0.5616 Cr) |
| Fresh Issue (Ex Market Maker) | 11,68,000 shares (agg. up to ₹11 Cr) |
| Net Offered to Public | 11,68,000 shares (agg. up to ₹11 Cr) |
| Share Holding Pre Issue | 34,30,779 shares |
| Share Holding Post Issue | 46,61,179 shares |
| NSE Symbol | IRISDOREME |
| ISIN | INE01GN01017 |
IRIS Clothings IPO comprises a total issue size of 12,30,400 shares. The net offer to the public is 11,68,000 shares, after excluding 62,400 shares allotted on a firm basis. Of the Net offer 5,84,000 (50.00%) allocated to NII 5,84,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 5,84,000 | 50.00% | 47.46% |
| Retail Shares Offered | 5,84,000 | 50.00% | 47.46% |
| Firm Reservations | |||
| Market Maker Shares Offered | 62,400 | 5.07% | |
| Total Shares Offered | 12,30,400 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| 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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Incremental Working Capital Requirement | 8.50 |
| 2 | Issue Expenses | 0.50 |
| 3 | General Corporate Purposes | 2.07 |
The Iris Clothings DoReMe IPO is subscribed 1.14 times on October 12, 2018 5:00:00 PM (Day 3). The public issue subscribed 0.27 times in the retail category, [.] times in the QIB category, and 2.01 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.01 | 5,84,000 | 11,76,000 |
| Retail | 0.27 | 5,84,000 | 1,56,800 |
| Total | 1.14 | 11,68,000 | 13,32,800 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including expenses towards printing, advertising, issue advertisers, issue printers, and payment to other intermediaries such as Registrars, Bankers etc. | 0.45 |
| 2 | Regulatory Fees & Other Expenses | 0.05 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹90.00 |
| Open | ₹92.00 |
| Low | ₹89.00 |
| High | ₹92.00 |
| Last Trade | ₹90.00 |
Lead Manager Reports
IRIS Clothings IPO is a SME IPO of 12,30,400 equity shares of the face value of ₹10 aggregating up to ₹11 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 1600.
The IPO opens on Wed, Oct 10, 2018, and closes on Fri, Oct 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 Wed, Oct 10, 2018 and closes on Fri, Oct 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 Fri, Oct 19, 2018. Check the IRIS Clothings IPO allotment status.
The IRIS Clothings IPO listing date is on Tue, Oct 23, 2018.
