Iris Clothings DoReMe is all about to make its debut on 10 Oct 2018 with issue size of INR 11.07 cr
Iris Clothes Ltd, headquartered in Kolkata, is a firm that manufactures, designs, brands, and sells children’s clothing. In India, the business markets its goods under the DoReMe brand. The company manufactures a variety of children’s clothing items, such as towels, dresses, shorts, dresses, tops, and t-shirts.
With a reach to more than 4,000 retailers, Iris Clothing has an active distribution network of more than 60 distributors spread across cities.For the years 2018, 2017, and 2016, the company’s total revenue (as restated) was Rs. 5,310.12 lakhs, followed by Rs. 4,689.14 and Rs. 3,699.20. The restated PAT for the years 2018 was Rs. 337.09 lakhs, for 2017 it was Rs. 159.73 lakhs, and for 2016 it was Rs. 64.61 lakhs.
Industry Overview
The availability of cheap labour and raw materials has caused a huge change in the textile and garment sector over the past few decades, with many factories moving to Asian nations including China, South Asia, and South-East Asia from industrialised nations. India is currently one of Asia’s most competitive manufacturing hubs for textiles and clothing. The sector is currently dealing with significant structural changes, as demand trends are being influenced by economic expansion in nations like China and India. For nations like India, this halt in China’s export growth offers a chance to enhance their trade share. Although only making up 11% of the world’s population, the US and EU account for 40% of the $1.7 trillion global apparel market’s current consumption.
Iris Clothings DoReMe IPO Details
| IPO Date | Oct 10, 2018 to Oct 12, 2018 |
| Listing Date | Oct 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 |
Iris Clothings DoReMe IPO Tentative Dates
Iris Clothings DoReMe IPO opens on Oct 10, 2018, and closes on Oct 12, 2018.
| Event | Tentative Date |
| Opening Date | Oct 10, 2018 |
| Closing Date | Oct 12, 2018 |
| Basis of Allotment | Oct 17, 2018 |
| Initiation of Refunds | Oct 17, 2018 |
| Credit of Shares to Demat | Oct 19, 2018 |
| Listing Date | Oct 23, 2018 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
Company Financials
| 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 |
Objects of the Issue
The purpose of the Issue is to raise money for-
1. Increased capital expenditures for working capital
2. Issue Costs
3. Typical corporate objectives
Iris Clothings DoReMe IPO Prospectus
Company Contact Information
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/
Iris Clothings DoReMe IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: cameo@cameoindia.com
Website: https://ipo.cameoindia.com/
Iris Clothings DoReMe IPO Lead Manager(s)
- VC Corporate Advisors Pvt Ltd (VCAPL) (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager Performance Tracker
