₹29.59 Crores | Listing at NSE | Fri, Oct 11, 2024 - Mon, Oct 21, 2024
Mittal Life Style Limited Rights Issue comprises 14.80 Cr equity shares aggregating to ₹29.59 Cr, offered at an issue price of ₹2 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Oct 3, 2024, with the Rights Issue being offered in the entitlement ratio of 1 : 2.
The term of payment is defined as following : The full amount of Rs. 2/- is payable at the time of application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Oct 31, 2024.
The Rights Issue opens on Oct 11, 2024, and closes on Oct 21, 2024, with renunciation of Rights Entitlements permitted up to Oct 16, 2024.
The deemed date of allotment is Oct 31, 2024, following which the equity shares are expected to be credited to demat accounts on Nov 5, 2024 and listed at the NSE on Nov 7, 2024.
Bigshare Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Mittal Life Style Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Thu, Oct 3, 2024
Entitlement Ratio
1 : 2
Open Date
Fri, Oct 11, 2024
Close Date
Mon, Oct 21, 2024
The full amount of Rs. 2/- is payable at the time of application.
Mittal Life Style Limited's revenue decreased by -98.94% and profit after tax (PAT) rose by 226.38% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 37.84 | 33.62 |
| Revenue | 0.67 | 63.57 |
| Profit After Tax | 1.72 | 0.53 |
| Amount in ₹ Crore | ||
Mittal Life Style Limited was founded in 2005 and is a trading company that deals in denim and base fabrics.
Mittal Life Style supplies its fabric products to various companies in the textile industry and these products include:
The company has the rights to manufacture denim jeans for brands such as "GERICHO LONDON", "MITTALIER LONDON" and "MCALLEN PARIS" and offers its products both offline and online. Customers can find these products online on digital marketplaces like Glowroad, Snapdeal, Amazon, Limeroad, Flipkart, Meesho, Shopclues, Paytm, 2GUD, etc.
The company proposes to utilize the net proceeds from the issue towards funding the following objects:
[Dilip Davda] The company is engaged in trading of denim fabrics. It is totally depending on third party buying and selling contracts. It marked average financial performance so far. However, the sudden boost in its bottom lines for FY24 raise eyebrows. Based on its market price trends, the issue appears fully priced. There is no harm in skipping this “High Risk/Low Return” bet. Read detail review...
Mittal Life Style Rights Issue 2024 got oversubscribed by 1.11 times by the end of the bidding period with total bid quantity received by NSE of 16,42,78,299 shares. Check Day by Day Subscription Details (Live Status)
| Date | NSE Bid Quantity | Subscription Times |
|---|---|---|
Oct 21 2024 17:01:13 | 16,42,78,299 | 1.11x |
Mittal Life Style Limited
Unit No. 8/9, Ravi Kiran,
New Link Road, Andheri (West),
Mumbai - 400053
Mumbai, Maharashtra, 400053
The Mittal Life Style Rights Issue 2024 opens on Fri, Oct 11, 2024, and closes on Mon, Oct 21, 2024.
Mittal Life Style Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Tue, Oct 8, 2024 |
| Last Date for renunciation of Rights Entitlements | Wed, Oct 16, 2024 |
| Issue Opening Date | Fri, Oct 11, 2024 |
| Issue Closing Date | Mon, Oct 21, 2024 |
| Date of Allotment (on or about) | Thu, Oct 31, 2024 |
| Date of Credit (on or about) | Tue, Nov 5, 2024 |
| Date of Listing (on or about) | Thu, Nov 7, 2024 |
You can apply for Mittal Life Style Rights Issue 2024 in two ways:
Steps to apply for Mittal Life Style Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Mittal Life Style Rights Issue 2024 using Registrar's website (R-WAP)
