Kizi Apparels share price extends gain after a decent debut on BSE SME

Kizi Apparels share price made a decent debut on BSE SME today. Kizi Apparels share price today opened at ₹23.15, which is 10.24% higher than the issue price of ₹21. Following its listing the Kizi Apparels share price extended gains and were trading 4% higher at ₹24 apiece on BSE SME. 

The subscription period for Kizi Apparels' initial public offering (IPO) was open from Tuesday, July 30, to Thursday, August 1. The initial public offering (IPO) price bandof Kizi Apparels shares wasRs 21, with a face value of ₹10. There are multiples of those shares available, and at least 6000 of those shares are up for bid. Kizi Apparels IPO subscription status was 115.60 times on the last day of bidding.

Kizi Apparels Limited was established in March 2023 and engages in the manufacturing and distribution of ready-to-wear apparel via its own showrooms, wholesalers, shopping centres, and internet platform.

The business has opened an online storefront selling high-end Western and ethnic women's clothing brands, ANUTARRA and KIZI, respectively.

With its internet platform, the organisation serves customers throughout India. The company's product line includes kurti sets, churidaar, co-ord sets, dresses, blouses, blouses, tops/tunics, dresses, palazzo, skirts, and dupattas.

As per the company's red herring prospectus (RHP), the listed peers are Thomas Scott (India) (with a P/E of 25.54), and Bizotic Commercial (with a P/E of 12.11).

Between March 31, 2024, and March 31, 2023, Kizi Apparels Limited's profit after tax (PAT) climbed by 31.36% and sales increased by 30.84%, respectively.

Kizi Apparels IPO details

The Kizi Apparels IPO, valued ₹5.5 crore, includes a fresh issuance of 2,658,000 equity shares with a face value of ₹10. There is no "offer for sale" component.

The firm plans to use the net proceeds from the offering for the following purposes: covering public issue expenditures, long-term working capital demand, general corporate purpose, and repayment of unsecured liabilities.

Bigshare Services Pvt Ltd is the registrar for the Kizi Apparels IPO, while Interactive Financial Services Ltd is the book running lead manager. Beeline Broking is the market maker for Kizi Apparels IPO.

Kizi Apparels IPO GMP today

Kizi Apparels IPO GMP today is +5. This indicates Kizi Apparels share price were trading at a premium of ₹5 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Kizi Apparels share price was indicated at ₹26 apiece, which is 23.81% higher than the IPO price of ₹21.

'Grey market premium' indicates investors' readiness to pay more than the issue price.'

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