Mish Designs Limited IPO Details

Founded in November 2017, Mish Designs Limited has carved a distinct niche in the textile and fashion industry. They specialize in transforming fabrics into stylish garments under their renowned brand names, “MISH” and “CURVES BY MISH,” in India. Additionally, the company has successfully extended its presence to international markets, particularly the United Arab Emirates, where they market their products under the brand name “ZOEY.”

Mish Designs takes pride in offering a diverse collection of over 1000 trendy designs, catering to the multifaceted demands of its discerning clientele. Their extensive product range in the women’s wear category encompasses a variety of wardrobe essentials, including dresses, tops, co-ords, t-shirts, trousers, and palazzos.

Robust Online Presence: Mish Designs has established a strong digital footprint through various e-commerce platforms, including Nykaa, Myntra, Ajio, and more. This online presence not only expands their market reach but also makes their products easily accessible to a wide audience, enhancing brand visibility and sales potential.

Cost-Effective Production: The company prides itself on its cost-effective production processes, ensuring competitive pricing for their products. This efficiency not only attracts price-conscious customers but also contributes to healthy profit margins.

Timely Order Fulfilment: Timely order fulfilment is a hallmark of Mish Designs. Meeting customer expectations with prompt deliveries enhances customer satisfaction and builds loyalty, critical elements for success in the competitive fashion industry.

Experienced Management Team and Promoters: The company is steered by an experienced and capable management team, supported by dedicated promoters. This leadership is instrumental in setting the company’s strategic direction, ensuring its operational efficiency, and driving innovation and growth.

Objects of the Issue

Funding Working Capital Requirements: This allocation is designed to provide the company with the necessary capital to meet its day-to-day operational needs. Working capital is essential for covering expenses like salaries, purchasing inventory, managing operational costs, and ensuring smooth business operations. Allocating funds to working capital helps ensure the company’s financial stability and the ability to respond to fluctuations in demand and market conditions.

To Fund Branding and Marketing Initiatives: Investing in branding and marketing initiatives is vital for enhancing the company’s visibility, customer engagement, and brand recognition. Funds allocated to branding and marketing can be used for advertising campaigns, promotional activities, and other strategies to build and strengthen the company’s brand presence in the market. This is particularly important for attracting and retaining customers and driving business growth.

General Corporate Purpose: The allocation of funds for “General Corporate Purpose” provides flexibility for the company to address various operational needs and strategic initiatives. This category can include activities such as research and development, technology investments, expansion into new markets, and building cash reserves for future opportunities. It offers versatility in how the funds can be used to support the company’s overall business objectives.

It’s worth noting that the specific allocation of funds among these purposes can vary based on the company’s financial strategy and priorities. The disclosure of the intended use of funds is a standard practice in an IPO prospectus, offering transparency to potential investors about how their investments will be employed by the company.

Mish Designs Limited IPO Details

IPO Date: October 31, 2023 to November 2, 2023
Face Value: ₹10 per share
Price: ₹122 per share
Lot Size: 1000 Shares
Total Issue Size: 800,000 shares (aggregating up to ₹9.76 Cr)
Issue Type: Fixed Price Issue IPO
Listing: BSE SME
Shareholding Pre-Issue: 2,000,000
Shareholding Post-Issue: 2,800,000
Market Maker Portion: 78,000 shares

Mish Designs Limited IPO Reservation

The allocation of shares in an IPO or public offering can take different forms, and in this case, it’s specified that the shares are divided equally between two categories of investors.

Retail Shares Offered (50% of the Net Offer): This indicates that 50% of the shares offered in the IPO are reserved for retail investors. Retail investors are typically individual or small-scale investors who are not part of institutional or professional investment groups. This allocation is often used to ensure that individual investors have a fair opportunity to participate in the IPO.

Other Shares Offered (50% of the Net Offer): The remaining 50% of the shares offered in the IPO are made available to other types of investors. These may include institutional investors, high-net-worth individuals, or other categories of investors. The term “Other Shares Offered” essentially designates that this portion is open to a broader range of investors beyond the retail category.

This balanced allocation between retail and other shares is a common practice and aims to provide a fair and equitable opportunity for different types of investors to participate in the IPO.

Mish Designs Limited IPO Lot Size

Retail (Min): 1 lot, 1000 shares, ₹122,000
Retail (Max): 1 lot, 1000 shares, ₹122,000
HNI (Min): 2 lots, 2000 shares, ₹244,000

Mish Designs Limited IPO Promoter Holding

Share Holding Pre Issue (95.75%): This figure indicates that before the issuance of new shares, the promoters, Kaushal Goenka and Sajan Bhartia, collectively held approximately 95.75% of the total shares in the company. This implies that they had a significant majority stake and substantial ownership and control of the company before the share issuance.

Share Holding Post Issue (68.35%): After the issuance of new shares, the combined ownership of the promoters has reduced to approximately 68.35%. The decrease in ownership percentage post-issue is typically due to the issuance of new shares to other investors, which dilutes the promoters’ ownership stake. This dilution is common in IPOs or equity offerings as new shares are issued to raise capital and bring in additional investors.

The specific allocation of ownership shares can vary based on the company’s strategies, the percentage of shares offered to the public, and other factors. Such changes in shareholding are standard in the context of raising capital through the sale of shares to the public.

Mish Designs Limited IPO Tentative Dates

IPO Open Date: Tuesday, October 31, 2023
IPO Close Date: Thursday, November 2, 2023
Basis of Allotment: Tuesday, November 7, 2023
Initiation of Refunds: Wednesday, November 8, 2023
Credit of Shares to Demat: Thursday, November 9, 2023
Listing Date: Friday, November 10, 2023
Cut-off time for UPI mandate confirmation: 5 PM on November 2, 2023

Mish Designs Limited IPO Registrar

Kfin Technologies Limited

+91 40 6716 2222
+91 40 7961 1000
Email Address: [email protected]

For inquiries, assistance, or specific information regarding their services, including IPO-related matters, you can contact them through the provided phone numbers or email address.

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