Mish Designs IPO opened for subscription today (Tuesday, October 31), and will close on Thursday, November 2. Mish Designs IPO price band has been set at ₹122. Investors may bid for a minimum of 1000 shares and multiples thereof.
It is the face value of the equity shares ₹10 each and the issue price is 12.20 times the face value.
Mish Designs manufactures clothing in India under the brands “MISH” and “CURVES BY MISH”. Currently, the business exports its goods to the United Arab Emirates using the “ZOEY” brand. To satisfy the diverse needs of its customers, the business provides a selection of more than a thousand contemporary styles. Women’s wear products from the company include dresses, tops, coordinates, t-shirts, trousers and palazzos.
The founders of the company are Sajan Bhartia and Kaushal Goenka.
According to the Red Herring Prospectus (RHP), the listed peers of Mish Designs IPO (with a P/E of 21.75) are Aditya Birla Fashion and Retail Ltd, Go Fashion (India) Ltd (with a P/E of 85.37), and Kewal Kiran Clothing Ltd (with a P/E of 37.51).
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Mish Designs IPO details
Mish IPO designs, it’s worth ₹9.76 crore, entirely fresh issue of 8,00,000 equity shares; there is no offer for sale (OFS) component, according to the Red Herring Prospectus (RHP).
Also read: Cello World IPO: Check out 10 key things to know from RHP before investing
The company intends to use the net proceeds of the issue to finance the following goals: general corporate objectives; branding and marketing campaigns; and working capital requirements.
Kfin Technologies Limited is the registrar of the Mish Designs IPO, and Aryaman Financial Services Limited is the lead bookrunner. Nikunj Stock Brokers is the market maker of Mish Designs IPO.
Mish Designs IPO Subscription Status
Mish Designs IPO subscription status was 4.88 hours on day 1, so far. The issue received a positive response from retail investors who subscribed the share set 8.50 times, while the response was overwhelming from non-institutional buyers who subscribed the share set 1.26 times, according to data on chittorgarh.com.
The company has received bids for 35,25,000 shares against 7,22,000 shares on offer, as at 18:03 IST, according to data on chittorgarh.com.
Also read: Mamaearth IPO closes with lukewarm response on day 1; subscribed to the issue 12%
Mish designs GMP IPO today
Mish Designs IPO GMP today or gray market premium is +50. This suggests that the Mish Designs share price was trading at a premium ₹50 in the gray market on Tuesday, according to investorgain.com.
Taking into account the upper end of the IPO price band and the current premium in the gray market, the estimated listed price of Mish Designs share price was shown at ₹172 apiece, which is 40.98% higher than its IPO price ₹122.
A ‘grey market premium’ indicates the willingness of investors to pay more than the issue price.
Also read: Cello World IPO fully booked on second day, 1.21 times oversubscribed so far; NII’s stole the show
Disclaimer: The above opinions and recommendations are the opinions and recommendations of individual analysts, experts and brokerage firms, not of Mint. We encourage investors to check with certified experts before making any investment decision.
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Updated: 31 October 2023, 06:12 PM IST
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