| The scrip was listed at Rs 160, up 31.15% over the initial public offer (IPO) price. The stock was currently frozen in a lower limit of 5% over its listing price.
The counter hit a high of Rs 165 and a low of Rs 124. About 3.09 lakh shares of the company changed hands at the counter.
Mish Designs' IPO was subscribed 122.31 times. The issue opened for bidding on 31 October 2023 and it closed on 2 November 2023. The price of the IPO was fixed at Rs 122 per share.
The IPO comprised fresh issue of 8,00,000 shares. The promoter and promoter shareholding diluted to 68.39% from 95.75% pre-IPO.
The company intends to utilise the net proceeds for funding working capital requirements, to fund branding and marketing initiatives and general corporate purposes.
Mish Designs is engaged in the process of fabrication of fabric into garments under the brand name MISH, CURVES BY MISH in India. The company exports their product currently to UAE under the brand name ZOEY. It also offers varieties of products in women’s wear segment such as dresses, gowns, tops, co-ords, t-shirts, trousers and palazzos. It products are sold through most popular and commonly used e-commerce trading platforms such as Myntra, Nykaa Fashion, Tata Cliq, Ajio and Tata Cliq. as on 30 June 2023, the company has 58 employees.
The company recorded revenue from operations of Rs 2.25 crore and net profit of Rs 0.11 crore for the period as on 30 June 2023.
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