Kizi Apparels IPO: SME Issue Explodes with 4.58x Subscription on Day One – Find Out the Latest Status and Key Details!

The initial public offering (IPO) for Kizi Apparels, a company that manufactures ready-to-wear clothing, began on July 30, 2024, and will close on August 1, 2024. On its first day of bidding, the SME IPO was subscribed over 4.58 times.

Founded in March 2023, Kizi Apparels Limited specialises in producing and selling ready-to-wear clothing. The company operates through its own showrooms, distributors, malls, and online channels. They have also launched an e-commerce platform featuring premium ethnic and Western women’s apparel under the brands ANUTARRA and KIZI.

Kizi Apparels IPO Subscription Status

On the first day of the IPO, Kizi Apparels received 1,15,44,000 applications for the 25,20,000 shares available. This means the IPO was subscribed 4.58 times on the first day, according to Chittorgarh.com.

In detail, the retail category of the IPO was subscribed over 7.89 times, while the portion allocated to non-institutional investors was subscribed 1.27 times.

Kizi Apparels IPO Details

The Kizi Apparels IPO is open for subscription from July 30, 2024, to August 1, 2024. The issue is a fixed price offering valued at ₹5.58 crores, consisting of a fresh issue of 26.58 lakh shares.

The price per share for the Kizi Apparels IPO is ₹21. The minimum number of shares that can be applied for is 6,000. Interactive Financial Services Ltd is the book running lead manager for the IPO, while Bigshare Services Pvt Ltd is the registrar. Beeline Broking is the market maker for this issue.

For this IPO, 2,658,000 shares are being offered, with 1,260,000 shares (47.40%) allocated to Non-Institutional Investors (NII) and 1,260,000 shares (47.40%) allocated to Retail Individual Investors (RII).

The promoters of Kizi Apparels are Abhishek Nathani and Kiran Nathani.