Schedule of Kizi Apparels
| Issue open date | 30 Jul 2024 |
| Issue close date | 01 Aug 2024 |
| UPI mandate deadline | 01 Aug 2024 (5 PM) |
| Allotment finalization | 02 Aug 2024 |
| Refund initiation | 05 Aug 2024 |
| Share credit | 05 Aug 2024 |
| Listing date | 06 Aug 2024 |
| Mandate end date | 16 Aug 2024 |
| Lock-in end date for anchor investors (50%) | 01 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 01 Nov 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Kizi Apparels
Incorporated in 2023, Kizi Apparels is engaged in manufacturing and trading of readymade garments through its Showrooms, distributors and malls, and online platforms. The company has collaborated with several well-known companies such as Reliance Retail, Arvind Lifestyle Brand Limited, Absolute Brands and Retails Private Limited (ABRPS), and . Fab India Limited (FIL). The company has launched its own brand “ANUTARRA” in the women’s ethnic wear segment and later launched a women’s western wear brand by the name of “KIZI”. The product portfolio of the company comprises 2 and 3-piece kurta sets, Ethnic tops, Ethnic gowns and dresses, Semi-formal Blazers, Co-ord Sets, Lehenga, etc.
The company’s operations are built around five core sectors:
- B2B (White Label)
- B2B (Own Brand)
- Job Work (Cut to Pack)
- Value Addition to Semi-Finished Goods
- D2C (Direct-to-Consumer)
Financials of Kizi Apparels
Issue size
| Funds raised in the IPO | Amount |
| Overall | ₹5.58 crores |
| Fresh issue | ₹5.58 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 3.49 (70%) |
| Debt reduction | 0.3 (5.9%) |
| General corporate purposes | 1.2 (24.1%) |
*All figures except EPS are in ₹ crores
Strengths
- Quality: The company’s commitment to delivering unmatched quality is non-negotiable. It believes in crafting garments that stand the test of time, reflecting the essence of the brand.
- Partnership: The company believes in fostering win-win partnerships that create lasting value for all parties involved. Building strong relationships based on trust and mutual respect is fundamental to its success.
Risks
- Reliance on top clients: The company derives nearly 96% of its revenue from its top 10 customers. Any reduction in business from these top 10 customers or any other major clients could have negative implications for both revenue and profitability.
- Negative cash flows from operating activities: The company has had negative cash flows from operating activities in the last 3 years. Negative cash flows over extended periods, or significant negative cash flows in the short term, could affect the company’s ability to operate the business and implement its growth plans.
- Dependence on 3rd party transportation services: The company is dependent on third-party transportation service providers for delivery of raw materials from suppliers and delivery of readymade garments to customers and business associates. Any failure on the part of such transport service providers to meet their obligations could have a material adverse effect on the business, financial condition, and results of operation.