Bizotic Commercial IPO: On June 12, subscriptions for Bizotic Commercial Ltd, a manufacturer of ready-made clothing, will go on sale. Under the brand name Urban United, the business creates, produces, and sells ready-to-wear clothing.
The Bizotic Commercial IPO is a fixed-price SME IPO. Men’s casual, formal, party, ethnic, fit, sports, comfort, and winter clothing are among the company’s offerings. It makes its items available through brick-and-mortar shops and online retailers.
Bizotic Commercial IPO Dates
Bizotic Commercial IPO opens on Jun 12, 2023, and closes on Jun 15, 2023. The Bizotic Commercial IPO is a fixed-price SME IPO. Men’s casual, formal, party, ethnic, fit, sports, comfort, and winter clothing are among the company’s offerings. It makes its items available through brick-and-mortar shops and online retailers.
The Bizotic Commercial IPO is set to raise a total issue size of ₹42.21 crore through its initial public offering. The issue size refers to the total value of shares being offered to the public during the IPO. In this case, the issue size consists of a fresh issue of 24.12 lakh shares.
Each share has a face value of ₹10, which represents the nominal value of the share as determined by the company. The face value does not necessarily reflect the market value of the share. In this IPO, the shares are being offered at a fixed price of ₹175 per share.
To calculate the total issue size, we multiply the number of shares being offered (24.12 lakh) by the price per share (₹175).
The IPO is categorized as a fresh issue, meaning that the company is issuing new shares to raise capital for various purposes, such as expansion, debt repayment, or working capital requirements. This allows the company to generate funds from the market by selling ownership stakes in the form of shares.
Bizotic Commercial IPO Details
| IPO Date | Jun 12, 2023 to Jun 15, 2023 |
| Face Value | ₹10 per share |
| Price | ₹175 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 2,412,000 shares (aggregating up to ₹42.21 Cr) |
| Fresh Issue | 2,412,000 shares (aggregating up to ₹42.21 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Market Maker portion | 120,800 shares |
| Retail Shares Offered | Not less than 50.00% of the Offer |
Important Dates of Bizotic Commercial IPO
Bizotic Commercial IPO opens on Jun 12, 2023, and closes on Jun 15, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Monday, 12 June 2023 |
| Closing Date | Thursday, 15 June 2023 |
| Basis of Allotment | Tuesday, 20 June 2023 |
| Initiation of Refunds | Wednesday, 21 June 2023 |
| Credit of Shares to Demat | Thursday, 22 June 2023 |
| Listing Date | Friday, 23 June 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 15, 2023 |
Bizotic Commercial IPO Lot Size
The Bizotic Commercial IPO lot size is 800 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹140,000 |
| Retail (Max) | 1 | 800 | ₹140,000 |
| HNI (Min) | 2 | 1,600 | ₹280,000 |
Objects of the Bizotic Commercial IPO
The company intends to utilize the proceeds from the net issue for the following objects:
- Setting up Retail store
- Repayment of loan
- Working capital requirement
- General Corporate Purpose, and
- Meeting Public Issue Expenses.
About Bizotic Commercial Limited IPO
Incorporated in 2016, Bizotic Commercial Limited is engaged in the business of manufacturing, designing, and marketing readymade garments under the brand name URBAN UNITED.
The company offers a diverse range of men’s Formal Wear, Casual Wear, Party Wear, Fit Wear, Sports Wear, Comfort Wear, Ethnic Wear, and Winter Wear through retail stores and e-commerce channels.
Bizotic Commercial’s manufacturing process includes cutting, stitching, sewing, finishing, inspection and packing. The company outsources the entire garments manufacturing on a job work basis from third-party contractors from time to time and provides the technical specifications such as designs, pattern, quality, fabric, etc.
The company has 20 stores in different cities of Rajasthan and 1 in Bihar on ongoing business out of which, 17 stores are on a franchisee basis and 4 stores are owned by the Company, itself. The 4 owned stores are located at Jaipur, Jodhpur, Bhilwada, and Chittorgarh in Rajasthan.