Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
Mittal Life Style IPO is a fixed price issue of ₹4.41 crores. The issue is entirely a fresh issue of 0.21 crore shares of ₹4.41 crore.
Mittal Life Style IPO bidding started from Mar 19, 2018 and ended on Mar 21, 2018. The shares got listed on NSE SME on Apr 2, 2018.
Mittal Life Style IPO price is ₹21.00 per share . The lot size for an application is 6,000. The minimum amount of investment required by an individual investor (retail) is ₹1,26,000 (6000 shares). The minimum lot size investment for HNI is 2 lots (12,000 shares), amounting to ₹2,52,000.
Sarthi Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Choice Equity Broking Pvt.Ltd..
Refer to Mittal Life Style IPO RHP for detailed Information.
| IPO Date | March 19, 2018 to March 21, 2018 |
| Listing Date | April 2, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹21 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 21,00,000 shares (aggregating up to ₹4.41 Cr) |
| Reserved for Market Maker | 1,20,000 shares Choice Equity Broking Pvt.Ltd. (aggregating up to ₹0.2520 Cr) |
| Net Offered to Public | 19,80,000 shares (aggregating up to ₹4.16 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 49,50,000 shares |
| Share Holding Post Issue | 70,50,000 shares |
Mittal Life Style Ltd IPO offers total 21,00,000 shares. Out of which 9,90,000 (47.14%) allocated to NII, 9,90,000 (47.14%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,20,000 (5.71%) |
| NII (HNI) Shares Offered | 9,90,000 (47.14%) |
| Retail Shares Offered | 9,90,000 (47.14%) |
| Total Shares Offered | 21,00,000 (100.00%) |
Mittal Life Style IPO opens on March 19, 2018, and closes on March 21, 2018.
| IPO Open Date | Mon, Mar 19, 2018 |
| IPO Close Date | Wed, Mar 21, 2018 |
| Tentative Listing Date | Mon, Apr 2, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Mar 21, 2018 |
Investors can bid for a minimum of 6,000 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 | 6,000 | ₹1,26,000 |
| Retail (Max) | 1 | 6,000 | ₹1,26,000 |
| HNI (Min) | 2 | 12,000 | ₹2,52,000 |
Incorporated in the year 2005, Mittal Life Style Ltd is a Mumbai based company dealing in Denim & Bottom weight Fabrics. The company is a prominent supplier of Fashion Fabrics, Cotton Canvas denims, Dupion bottom Fabrics, Polyester Fabrics, Cotton Fabric, knit fabrics etc. to the textile industry.
The company has tied-up with about 16 Composite mills to get denim fabric manufactures as per its need and requirements. Some of the company's regular suppliers are Mafatlal Industries Limited, Oswal Industries Limited, Bhaskar Industries Private Limited, Nandan Denim Limited etc. The Company has also tie-up with 11 logistic companies to pick denim fabric from various mills and warehouse at their premises.
Some of the competitive strengths of the company are-
1. Existing relationship with suppliers
2. Customer Centric Business Model
3. Promoters and Experienced Management
As on October 30, 2017 Mittal Life Style had 12 Permanent employees.
| Particulars | For the year/period ended (in Rs. Lacs) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 1693.58 | 1270.97 | 919.01 | 758.03 | 553.86 | |
| Total Revenue | 7856.78 | 5904.08 | 4635.07 | 3232.10 | 2527.20 | |
| Profit After Tax | 33.78 | 0.86 | 0.91 | 0.56 | (-0.46) | |
The Company Mittal Life Style 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 | Repayment of Unsecured Borrowings | 2.91 |
| 2 | General Corporate Purpose | 1.05 |
| 3 | Issue Expenses | 0.45 |
[Dilip Davda] <p>Aggressive pricing couples with listless performance makes this issue a risky bet. Cash surplus risk savvy investors may consider it for long term at their own risk</p> Read detail review...
| Listing Date | April 2, 2018 |
| BSE Script Code | |
| NSE Symbol | MITTAL |
| ISIN | INE997Y01019 |
| Final Issue Price | ₹21 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹21.00 |
| Open | ₹21.00 |
| Low | ₹21.00 |
| High | ₹21.00 |
| Last Trade | ₹21.00 |
Mittal Life Style Ltd.
Unit No. 8/9, Ravikiran
Ground Floor, New Link Road,
Andheri (West),
Andheri, Maharashtra, 400053
Phone: +91-22-26741792
Email: info@mittallifestyle.in
Website: http://www.mittallifestyle.in
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Mittal Life Style IPO is a SME IPO of 21,00,000 equity shares of the face value of ₹10 aggregating up to ₹4.41 Crores. The issue is priced at ₹21 per share. The minimum order quantity is 6000.
The IPO opens on March 19, 2018, and closes on March 21, 2018.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Mittal Life Style IPO using UPI as a payment gateway. Zerodha customers can apply in Mittal Life Style IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mittal Life Style IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mittal Life Style IPO opens on March 19, 2018 and closes on March 21, 2018.
Mittal Life Style IPO lot size is 6000, and the minimum amount required for application is ₹1,26,000.
You can apply in Mittal Life Style 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 Mittal Life Style IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Mittal Life Style IPO allotment status.
The Mittal Life Style IPO listing date is on Monday, April 2, 2018.
Useful Articles
RHP