Fixed Price IPO | ₹4 Cr | Listed at BSE SME | Wed, Jan 31, 2018 - Tue, Feb 6, 2018
Lorenzini Apparels IPO is a fixed price issue of ₹4.47 crores. The issue is entirely a fresh issue of 0.45 crore shares of ₹4.47 crore.
Lorenzini Apparels IPO bidding started from Jan 31, 2018 and ended on Feb 6, 2018. The allotment for Lorenzini Apparels IPO was finalized on Feb 9, 2018. The shares got listed on BSE SME on Feb 15, 2018.
Lorenzini Apparels IPO price is ₹10 per share. The lot size for an application is 10,000. The minimum amount of investment required by an individual investor (retail) is ₹1,00,000 (10000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (30,000 shares), amounting to ₹3,00,000.
Fedex Securities Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to Lorenzini Apparels IPO RHP for detailed Information.
IPO Open
Wed, Jan 31, 2018
IPO Close
Tue, Feb 6, 2018
Issue Price
₹10 per share
Market Cap (Pre-IPO)
₹10.14 Cr
| IPO Date | 31 Jan to 6 Feb, 2018 |
| Listed on | Thu, Feb 15, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹10 per share |
| Lot Size | 10,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 44,70,000 shares (agg. up to ₹4 Cr) |
| Reserved for Market Maker | 2,30,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹0.2300 Cr) |
| Fresh Issue (Ex Market Maker) | 42,40,000 shares (agg. up to ₹4 Cr) |
| Net Offered to Public | 42,40,000 shares (agg. up to ₹4 Cr) |
| Share Holding Pre Issue | 56,68,916 shares |
| Share Holding Post Issue | 1,01,38,916 shares |
| BSE Script Code | 540952 LAL |
| ISIN | INE740X01015 |
Lorenzini Apparels IPO comprises a total issue size of 44,70,000 shares. The net offer to the public is 42,40,000 shares, after excluding 2,30,000 shares allotted on a firm basis. Of the Net offer 21,20,000 (50.00%) allocated to NII 21,20,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 21,20,000 | 50.00% | 47.43% |
| Retail Shares Offered | 21,20,000 | 50.00% | 47.43% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,30,000 | 5.15% | |
| Total Shares Offered | 44,70,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 10,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 10,000 | ₹1,00,000 |
| Retail (Max) | 2 | 20,000 | ₹2,00,000 |
| HNI (Min) | 3 | 30,000 | ₹3,00,000 |
Incorporated in 2007, Lorenzini Apparels Limited is engaged into the business of manufacturing, designing and marketing of readymade garments. Lorenzini Apparels offers diverse range of formal, semi-formal and casual wear for men and casual wear for women under the brand name 'Monteil & Munero', 'Monteil' and 'Calgari'.
Company has its own manufacturing setup at Delhi. The manufacturing process includes cutting, stitching, sewing, finishing, inspection and packing. Company also outsources some of the manufacturing.
Lorenzini Apparels sells its products through retail shops and online. Company sells its products through 18 exclusive stores/oulets located in Delhi, Haryana and Uttar Pradesh.
Lorenzini Apparels also have supply agreement with some of the e-commerce platform including Myntra, Limeroad, Flipkart, Jabong, Amazon, paytm etc. Company also have franchise model to sell products.
Company has 62 employees including 2 management personnel, 10 Skilled, 40 semi skilled and 12 unskilled employees.
| 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 | Funding of working capital requirements of the Company | 4.17 |
| 2 | Issue Expenses | 0.30 |
The Lorenzini Apparels IPO is subscribed 1.71 times on February 6, 2018 5:00:00 PM (Day 5). The public issue subscribed 2 times in the retail category, [.] times in the QIB category, and 1.4 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.4 | 21,20,000 | 29,70,000 |
| Retail | 2 | 21,20,000 | 42,50,000 |
| Total | 1.71 | 42,40,000 | 72,70,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including, fees and reimbursement of underwriting fees, payment to legal advisor, peer review auditor | 0.17 |
| 2 | Regulatory and other fees | 0.03 |
| 3 | Other Expenses (printing, stationery expenses, postage, RTA fees, brokerage etc.) | 0.11 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹10.00 |
| Open | ₹10.20 |
| Low | ₹8.25 |
| High | ₹10.20 |
| Last Trade | ₹9.25 |
Lead Manager Reports
Lorenzini Apparels IPO is a SME IPO of 44,70,000 equity shares of the face value of ₹10 aggregating up to ₹4 Crores. The issue is priced at ₹10 per share. The minimum order quantity is 10000.
The IPO opens on Wed, Jan 31, 2018, and closes on Tue, Feb 6, 2018.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Lorenzini Apparels IPO using UPI as a payment gateway. Zerodha customers can apply in Lorenzini Apparels IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Lorenzini Apparels IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Lorenzini Apparels IPO opens on Wed, Jan 31, 2018 and closes on Tue, Feb 6, 2018.
Lorenzini Apparels IPO lot size is 10000, and the minimum amount required for application is ₹1,00,000.
You can apply in Lorenzini Apparels 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 Lorenzini Apparels IPO will be done on Friday, February 9, 2018, and the allotted shares will be credited to your demat account by Wed, Feb 14, 2018. Check the Lorenzini Apparels IPO allotment status.
The Lorenzini Apparels IPO listing date is on Thu, Feb 15, 2018.
