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Iris Clothings DoReMe IPO is a fixed price issue of Rs 11.07 crores.
Iris Clothings DoReMe IPO bidding started from October 10, 2018 and ended on October 12, 2018. The allotment for Iris Clothings DoReMe IPO was finalized on Wednesday, October 17, 2018. The shares got listed on NSE SME on October 23, 2018.
Iris Clothings DoReMe IPO price is ₹90 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹144,000.
Vc Corporate Advisors Pvt Ltd (Vcapl) is the book running lead manager of the Iris Clothings DoReMe IPO, while Cameo Corporate Services Limited is the registrar for the issue.
Refer to Iris Clothings DoReMe IPO RHP for detailed information.
| IPO Date | October 10, 2018 to October 12, 2018 |
| Listing Date | October 23, 2018 |
| Face Value | ₹10 per share |
| Price | ₹90 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 1,230,400 shares (aggregating up to ₹11.07 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 3,430,779 |
| Share holding post issue | 4,661,179 |
| Market Maker portion | 62,400 shares |
Iris Clothings DoReMe IPO offers 1,230,400 shares. 584,000 (47.46%) to NII, 584,000 (47.46%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 62,400 (5.07%) |
| Other Shares Offered | 584,000 (47.46%) |
| Retail Shares Offered | 584,000 (47.46%) |
| Total Shares Offered | 1,230,400 (100%) |
Iris Clothings DoReMe IPO opens on October 10, 2018, and closes on October 12, 2018.
| IPO Open Date | Wednesday, October 10, 2018 |
| IPO Close Date | Friday, October 12, 2018 |
| Basis of Allotment | Wednesday, October 17, 2018 |
| Initiation of Refunds | Wednesday, October 17, 2018 |
| Credit of Shares to Demat | Friday, October 19, 2018 |
| Listing Date | Tuesday, October 23, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 12, 2018 |
Investors can bid for a minimum of 1600 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 | 1600 | ₹144,000 |
| Retail (Max) | 1 | 1600 | ₹144,000 |
| Lot Size Calculator | |||
Incorporated in 2004, Kolkata based Iris Clothing Limited is a company engaged in the business of Manufacturing, Designing, Branding and Selling of Kids Wear. The company sells its products under the brand name DoReMe in India.
The company makes different kinds of products for kids wear including Tops, T-shirts, Pants, Dresses, Shorts, Frocks, and Towels etc.
Iris Clothing has an active distribution network of over 60 distributors across cities with reach to more than 4,000+ retailers.
The total revenue of the company ( as restated) for the year 2018, 2017 and 2016 were Rs. 5,310.12 lakhs, Rs. 4,689.14 and Rs. 3,699.20 respectively.
The restated PAT for the year 2018, 2017 and 2016 were Rs. 337.09 lakhs, Rs. 159.73 lakhs and Rs. 64.61 lakhs respectively.
The company has more than 600 employees on its payroll.
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 30-Jun-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 4,042.83 | 3,978.58 | 3,182.40 | 2,661.01 | 2,968.46 | 2,893.88 |
| Total Revenue | 1,484.70 | 5,310.12 | 4,689.14 | 3,699.20 | 3,009.49 | 2,498.51 |
| Profit After Tax | 117.08 | 337.90 | 159.73 | 64.61 | 24.23 | 68.08 |
The objects of the Issue are to raise funds to meet-
1. Incremental working capital requirements
2. Issue Expenses
3. General corporate purposes
[Dilip Davda]
Issue is attractively priced. Encouraging financial track record indicates future prospects. LM’s track record is the concern. Investors may consider investment in this kids wear sector issue for long term.
Read detail review...The Iris Clothings DoReMe IPO is subscribed 1.14 times on October 12, 2018 5:00:00 PM. The public issue subscribed 0.27 times in the retail category, times in the QIB category, and 2.01 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.01 |
| Retail | 0.27 |
| Total | 1.14 |
| Listing Date | October 23, 2018 |
| BSE Script Code | |
| NSE Symbol | IRISDOREME |
| ISIN | INE01GN01017 |
| Final Issue Price | ₹90 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹90.00 |
| ₹92.00 |
| ₹89.00 |
| ₹92.00 |
| ₹90.00 |
Iris Clothings Limited
103/24/1, Foreshore Road
Shibpur, Binani Metal Compound
Howrah, West Bengal- 711102
Phone: +91-33-26373856
Email: accounts@irisclothings.in
Website: http://www.doreme.in/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: cameo@cameoindia.com
Website: https://ipo.cameoindia.com/
SME Company Owners
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Iris Clothings DoReMe IPO is a SME IPO of 1,230,400 equity shares of the face value of ₹10 aggregating up to ₹11.07 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 1600 Shares.
The IPO opens on October 10, 2018, and closes on October 12, 2018.
Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
The Iris Clothings DoReMe IPO opens on October 10, 2018 and closes on October 12, 2018.
Iris Clothings DoReMe IPO lot size is 1600 Shares, and the minimum amount required is ₹144,000.
You can apply in Iris Clothings DoReMe 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 Iris Clothings DoReMe IPO will be done on Wednesday, October 17, 2018, and the allotted shares will be credited to your demat account by Friday, October 19, 2018. Check the Iris Clothings DoReMe IPO allotment status.
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