Kizi Apparels IPO: SME issue subscribed 4.58 times; check subscription status, and other details

Ready-to wear clothing manufacturing Kizi Apparels initial public offerings (IPO) opened for subscription on July 30, 2024 and will close on August 1, 2024. The small and medium enterprise (SME) was subscribed over 4.58 times on the first day of bidding.

Founded in March 2023, Kizi Apparels Limited specializes in the production and sale of ready-to-wear clothing through its own showrooms, distributors, malls, and online channels. The company has introduced an e-commerce platform that features premium ethnic and Western women's apparel under the brands ANUTARRA and KIZI.

Kizi Apparels IPO subscription status

The SME IPO received 1,15,44,000 application against offered 25,20,000 shares on the first day of subscription. The ready-to-wear clothing manufacturer's IPO was subscribed over 4.58 times on the first day of bidding, according to chittorgarh.com.

The retail category was subscribed over 7.89 times, whereas, non-institutional investors portion was subscribed 1.27 times.

Kizi Apparels IPO details

The Kizi Apparels IPO will open for subscription on July 30, 2024, and close on August 1, 2024. The IPO is a fixed price issue 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 lot size for an application is 6,000 shares. Interactive Financial Services Ltd is the book running lead manager for the IPO, while Bigshare Services Pvt Ltd will serve as the registrar. Beeline Broking is the market maker for this issue.

The Kizi Apparels IPO provides 2,658,000 shares, 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 the company are Abhishek Nathani and Kiran Nathani.