Fixed Price IPO | ₹4 Cr | Listed at NSE SME | Mon, Mar 19, 2018 - Wed, Mar 21, 2018
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Mon, Mar 19, 2018
IPO Close
Wed, Mar 21, 2018
Issue Price
₹21 per share
Market Cap (Pre-IPO)
₹14.81 Cr
| IPO Date | 19 to 21 Mar, 2018 |
| Listed on | Mon, Apr 2, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹21 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 21,00,000 shares (agg. up to ₹4 Cr) |
| Reserved for Market Maker | 1,20,000 shares Choice Equity Broking Pvt.Ltd. (agg. up to ₹0.2520 Cr) |
| Fresh Issue (Ex Market Maker) | 19,80,000 shares (agg. up to ₹4 Cr) |
| Net Offered to Public | 19,80,000 shares (agg. up to ₹4 Cr) |
| Share Holding Pre Issue | 49,50,000 shares |
| Share Holding Post Issue | 70,50,000 shares |
| NSE Symbol | MITTAL |
| ISIN | INE997Y01019 |
Mittal Life Style IPO comprises a total issue size of 21,00,000 shares. The net offer to the public is 19,80,000 shares, after excluding 1,20,000 shares allotted on a firm basis. Of the Net offer 9,90,000 (50.00%) allocated to NII 9,90,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 9,90,000 | 50.00% | 47.14% |
| Retail Shares Offered | 9,90,000 | 50.00% | 47.14% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,20,000 | 5.71% | |
| Total Shares Offered | 21,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 6,000 shares and in multiples thereof.
| 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.
| 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 | Repayment of Unsecured Borrowings | 2.91 |
| 2 | General Corporate Purpose | 1.05 |
| 3 | Issue Expenses | 0.45 |
The Mittal Life Style Ltd IPO is subscribed 1.47 times on March 21, 2018 5:00:00 PM (Day 3). The public issue subscribed 0.58 times in the retail category, [.] times in the QIB category, and 2.37 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.37 | 9,90,000 | 23,46,000 |
| Retail | 0.58 | 9,90,000 | 5,70,000 |
| Total | 1.47 | 19,80,000 | 29,16,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including expenses towards printing, advertising, and payment to other intermediaries such as Registrars, Market Makers, Bankers, etc. | 0.36 |
| 2 | Regulatory Fees & Other Expenses | 0.09 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹21.00 |
| Open | ₹21.00 |
| Low | ₹21.00 |
| High | ₹21.00 |
| Last Trade | ₹21.00 |
Lead Manager Reports
Mittal Life Style IPO is a SME IPO of 21,00,000 equity shares of the face value of ₹10 aggregating up to ₹4 Crores. The issue is priced at ₹21 per share. The minimum order quantity is 6000.
The IPO opens on Mon, Mar 19, 2018, and closes on Wed, Mar 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 Mon, Mar 19, 2018 and closes on Wed, Mar 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 Mon, Apr 2, 2018.
