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Mish Designs IPO is a fixed price issue of Rs 9.76 crores. The issue is entirely a fresh issue of 8 lakh shares.
Mish Designs IPO bidding started from October 31, 2023 and ended on November 2, 2023. The allotment for Mish Designs IPO was finalized on Monday, November 6, 2023. The shares got listed on BSE SME on November 7, 2023.
Mish Designs IPO price is ₹122 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹122,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹244,000.
Aryaman Financial Services Limited is the book running lead manager of the Mish Designs IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Mish Designs IPO is Nikunj Stock Brokers.
Refer to Mish Designs IPO RHP for detailed information.
| IPO Date | October 31, 2023 to November 2, 2023 |
| Listing Date | November 7, 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) |
| Fresh Issue | 800,000 shares (aggregating up to ₹9.76 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 2,000,000 |
| Share holding post issue | 2,800,000 |
| Market Maker portion | 78,000 shares Nikunj Stock Brokers |
Mish Designs IPO offers 800,000 shares. 361,000 (45.13%) to NII, 361,000 (45.13%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 78,000 (9.75%) |
| Other Shares Offered | 361,000 (45.13%) |
| Retail Shares Offered | 361,000 (45.13%) |
| Total Shares Offered | 800,000 (100%) |
Mish Designs IPO opens on October 31, 2023, and closes on November 2, 2023.
| IPO Open Date | Tuesday, October 31, 2023 |
| IPO Close Date | Thursday, November 2, 2023 |
| Basis of Allotment | Monday, November 6, 2023 |
| Initiation of Refunds | Monday, November 6, 2023 |
| Credit of Shares to Demat | Monday, November 6, 2023 |
| Listing Date | Tuesday, November 7, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 2, 2023 |
Investors can bid for a minimum of 1000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹122,000 |
| Retail (Max) | 1 | 1000 | ₹122,000 |
| HNI (Min) | 2 | 2,000 | ₹244,000 |
| Lot Size Calculator | |||
Kaushal Goenka and Sajan Bhartia are the promoters of the company.
| Share Holding Pre Issue | 95.75% |
| Share Holding Post Issue | 68.35% |
Incorporated in November 2017, Mish Designs is engaged in processing fabrics into garments under the brand name "MISH", "CURVES BY MISH" in India. The company is currently exporting their product to United Arab Emirates under the brand name "ZOEY". The company offers a collection of over 1000 trendy designs to meet the diverse requirements of the customers. The company offers a wide range of products in the category of women's wear such as dresses, tops, co-ords, t-shirts, trousers and palazzos.
The company's competitive strength lies in the following points:
Mish Designs Limited's revenue increased by 52.18% and profit after tax (PAT) rose by 1033.4% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 697.71 | 71,145,000.00 | 423.10 | 251.78 |
| Revenue | 227.17 | 1,111.95 | 730.70 | 419.32 |
| Profit After Tax | 11.33 | 60.75 | 5.36 | 0.30 |
| Net Worth | 229.40 | 218.08 | 57.33 | 51.96 |
| Reserves and Surplus | 29.40 | 18.08 | 32.33 | 26.96 |
| Total Borrowing | 264.37 | 300.01 | 231.36 | 108.06 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Mish Designs IPO is Rs 34.16 Cr.
| KPI | Values |
|---|---|
| ROE | 44% |
| ROCE | 22.20% |
| Debt/Equity | 1.38 |
| RoNW | 27.86% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.61 | |
| P/E (x) | 21.75 | 75.31 |
The company proposes to utilize the Net Proceeds from the issue towards funding the following objects.
1. Funding Working capital requirements;
2. To fund branding and marketing initiatives;
3. General Corporate Purpose
[Dilip Davda] The company is in garment marketing on e-commerce platforms. The financial performance so far has been much below average. Based on FY24 annualized working, the issue is greedily priced. There is no harm in skipping such pricey and dicey offers. Read detail review...
The Mish Designs IPO is subscribed 135.43 times on November 2, 2023 7:02:00 PM. The public issue subscribed 166.74 times in the retail category, times in the QIB category, and 98.44 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 98.44 |
| Retail | 166.74 |
| Total | 135.43 |
Total Application : 67,996 (188.35 times)
| Listing Date | November 7, 2023 |
| BSE Script Code | 544015 |
| NSE Symbol | |
| ISIN | INE0QI101019 |
| Final Issue Price | ₹122 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹122.00 |
| ₹160.00 |
| ₹124.00 |
| ₹165.00 |
| ₹152.00 |
Mish Designs Limited
Gala No. 4, Gulati Industries
Hattibaug Love Lane
Mazgaon, Mumbai City, Mumbai, 400010
Phone: +91 22- 23719478
Email: info@mishindia.com
Website: https://mishindia.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: cpl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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Mish Designs IPO is a SME IPO of 800,000 equity shares of the face value of ₹10 aggregating up to ₹9.76 Crores. The issue is priced at ₹122 per share. The minimum order quantity is 1000 Shares.
The IPO opens on October 31, 2023, and closes on November 2, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Mish Designs IPO using UPI as a payment gateway. Zerodha customers can apply in Mish Designs IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mish Designs IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mish Designs IPO opens on October 31, 2023 and closes on November 2, 2023.
Mish Designs IPO lot size is 1000 Shares, and the minimum amount required is ₹122,000.
You can apply in Mish Designs IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Mish Designs IPO will be done on Monday, November 6, 2023, and the allotted shares will be credited to your demat account by Monday, November 6, 2023. Check the Mish Designs IPO allotment status.
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