Kizi Apparels makes decent debut, shares list at 10% premium on BSE SME

Kizi Apparels Ltd. made a decent debut on the BSE SME platform on Tuesday, August 6. Its shares were listed at a premium of over 10% against the issue price of ₹21 apiece.

Kizi Apparel’s stock opened at ₹23.15 apiece, with an upside of 10.23% against the issue price of ₹21. After listing, the stock rose over 3% to hit an intraday high of ₹24.30 per share. At this level, the stock gained over 14% from the IPO price.

Over 12.18 lakh shares of the company changed hands in early deals on the BSE. At around 12.15 pm, the company's total market capitalisation stood at ₹19 crore.

The minimum lot size to apply for Kizi Apparels IPO was 6000 shares. After listing, investors allotted shares in the public issue would have earned a profit of at least ₹12,900 (₹2.15 x 6000).

Kizi Apparels Ltd IPO details

The subscription window for Kizi Apparels IPO was open from July 30 to August 1. The share allotment status for Kizi Apparels IPO was finalised on August 2.

The BSE SME issue saw strong subscription in its three-day bidding window and was booked 115.65 times across categories. Investors bid for over 29.14 crore shares against 25.2 lakh shares on offer. Kizi Apparels IPO was subscribed 89.68 times in the Non-institutional investors (NIIs) category. In the retail category, the BSE SME issue was booked 139.62 times.

Qualified institutional buyers (QIBs) placed bids for 25.2 lakh shares.

Kizi Apparels IPO, valued at ₹5.58 crore, was offered at a fixed price, consisting of a fresh issue of 26.58 lakh shares. The Kizi Apparels IPO price band was fixed at ₹21 per share. The minimum lot size for retail investors to apply for the Kizi Apparels IPO was fixed at 6000 shares, aggregating to a minimum investment of ₹1,26,000.

Kizi Apparels plans to use the money raised via the public issue for repayment of unsecured loans and for fulfilling the long-term working capital requirements. The money will also be used for general corporate purposes and meeting the expenses of the public issue.

Incorporated in March 2023, Kizi Apparels Limited is involved in the production and trading of clothing through its showrooms, distributors, malls, and online platforms. The company had a total of 18 permanent employees as of June 30, 2024.