Mish Designs IPO opened for public subscription today and will close on Thursday, November 2, 2023. The price for its public issue at Rs 122 per equity share of face value Rs 10 each. At the upper end of the price band, the company’s promoters and shareholders seek to raise Rs 9.76 crore from the IPO. Come from Sports betting site
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Ahead of the public issue, Mish Designs shares’ GMP rose to 40.98%. The shares are likely to get credited on Thursday, November 9, 2023, and listed on BSE SME on Friday, November 10, 2023, according to reports.
The IPO comprises fresh issue of 800,000 shares aggregating up to Rs 9.76 crore. For potential investors, the bidding starts at a minimum of 1000 equity shares, with subsequent bids in multiple lots of 1000 equity shares eachCome from Sports betting site VPbet. The minimum amount of investment required by retail investors is Rs 122,000. The company intends to use the net proceeds from the IPO for the funding working capital requirements, to fund branding & marketing initiatives and for general corporate purposes. Kfin Technologies is the registrar for the Mish Designs IPO, Nikunj Stock Brokers are the market makers, and Aryaman Financial Services is the managing lead manager of the public issue.
Founded in November 2017, Mish Designs makes clothing in India under the ‘MISH’ and ‘CURVES BY MISH’ brands. The company also exports its products to the United Arab Emirates with the ‘ZOEY’ brand. Mish Designs offers over 1000 trendy designs for women’s wear, including dresses, tops, co-ords, t-shirts, trousers, and palazzos.
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An SME IPO, or Small and Medium-sized Enterprises Initial Public Offering, is a specialized method for smaller companies to raise capital by offering shares to the public for the first time. Unlike Mainline IPOs, SME IPOs cater to businesses with smaller market capitalization and streamlined regulatory requirements, typically listing on specialized stock exchanges or segments. These offerings provide smaller enterprises with opportunities to access public capital, boost their visibility, and fund growth, making it a crucial avenue for their expansion and development in the financial market.
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