Iris Clothings Limited IPO – Review, Allotment, Subscription, GMP & DRHP

Iris Clothings Limited Company is engaged in the Manufacturing, Designing, Branding and Selling of Kids Wear under the brand name DoReMe© in India. DoReMe© caters to the Kids Wear category mostly juniors including various kinds of apparels and related products for all Infants, Boys and Girls. Iris Clothings Limited IPO comprises of 12,30,400 Equity shares, face value of Rs.10 each and at cash price of Rs 90.

Let’s have a detailed review of the company and analytics of the Iris Clothings Limited IPO release date, IPO offer price, subscription, Iris Clothings Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Iris Clothings Limited IPO Review & Ratings

Iris Clothings Limited IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.3/10
Industry Ranking 6.3/10
Company Background6.1/10
Company Reputation6.4/10
Competitive Edge6.4/10
Financial Statements6.5/10
Popularity Index6.2/10
Promoters Reputation6.3/10
Retail Appetite 6.2/10
Top Brokers Review6.3/10
Overall Ratings 6.3/10
Star Ratings★★★☆☆

Summary of Iris Clothings Limited IPO

Iris Clothings Limited IPOIris Clothings Limited Company is engaged in the Manufacturing, Designing, Branding and Selling of Kids Wear under the brand name DoReMe© in India. DoReMe© caters to the Kids Wear category mostly juniors including various kinds of apparels and related products for all Infants, Boys and Girls.  The Company makes different kinds of products like Tops, T-shirts,Pants, Shorts, Frock, Dresses, and Towels among others catering to Kids Wear category. The Company continuously strives to add new product lines and innovate with Designs to be able to appeal to the changing consumer demands.Iris Clothings Limited IPO comprises of 12,30,400 Equity shares, face value of Rs.10 each.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,

From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 42.19% and 0.40%, respectively.

For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs.  52,86,68,268, Rs.46,67,85,895 and Rs. 36,41,38,463, respectively representing growth of  42.19% from the FY 2015-16 to FY 2016-17. For the period ended March 31, 2017, FY 2016-17 and FY 2015-16 our net profit was Rs.4,76,60,197 , Rs. 2,41,80,144 and Rs. 96,95,627 respectively, representing a growth of  99.84 % from the FY 2015-16 to FY 2016-17.

  • During the financial year 2017-18 the Other Income of our company increased to Rs.23,44,613 Lakhs as against Rs. 21,28,702 Lakhs for the financial year 2016-17, representing increase by 98.55% due to increase in interest income & insurance claim in FY 2017- 18.
  • Company’s Net Profit after tax for the year 2016-17 is Rs. 3,37,90,401  Lakhs from the year 2015-16 of Rs. 1,59,73,973 Lakhs showing an increase of 687.26% from last year, showing remarkable performance.

The Promoter of this company is MR. SANTOSH LADHA & MRS. GEETA LADHA. The lead manager to the issue is VC CORPORATE ADVISORS PRIVATE LIMITED and the Registrar to this issue is CAMEO CORPORATE SERVICES LIMITED .


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Iris Clothings Limited IPO Date

The opening and the closing date of IPO of Iris Clothings Limited is not known yet.


Iris Clothings Limited IPO Subscription

Day / DateQIBNIIRIITotal Subscription
Day 1 
Day 2
Day 3
Day 4
Day 5
Shares Offered or Net Issue

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Iris Clothings Limited IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Iris Clothings Limited IPO Price Band

The face value of each share is Rs 10, but the price band or Issue Price is Rs 90 each.


Iris Clothings Limited IPO Equity Share Offering

12,30,400 Equity Shares of Rs 10/- each and Issue Price is Rs 90 each, aggregating to Rs 1,107.36. The Net Issue offered to the Public is 11,68,000 equity shares.


Iris Clothings Limited – Company Overview

Iris Clothings Limited Company is engaged in the Manufacturing, Designing, Branding and Selling of Kids Wear under the brand name DoReMe© in India. DoReMe© caters to the Kids Wear category mostly juniors including various kinds of apparels and related products for all Infants, Boys and Girls.  The Company makes different kinds of products like Tops, T-shirts,Pants, Shorts, Frock, Dresses, and Towels among others catering to Kids Wear category. The Company continuously strives to add new product lines and innovate with Designs to be able to appeal to the changing consumer demands.As on date the Company has an active distribution network of 60+ distributors across cities / states with reach to more than 4,000+ retailers.

The Company has always believed in offering high quality products at affordable value and the same has helped the brand to develop a strong pull from the end customers and trade partners .

The Company is promoted by  Mr. Santosh Ladha and Mrs. Geeta Ladha and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Iris Clothings Limited:

  • Widespread Distribution Network
  • Customer Satisfaction
  • Quality Assurance
  • Existing relationship with suppliers
  • Experienced Management

Business strategies of Iris Clothings Limited:

  • Expanding  Clientele Network by Geographic expansion
  • Reduction of operational costs and achieving efficiency
  • Focus on cordial relationship
  • To Increase brand visibility
  • Enhancing trading and manufacturing capacities

Iris Clothings Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR)
31-Mar-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
Total Assets39,78,58,76131,82,40,69926,61,01,53829,68,46,90328,93,88,890
Total Revenue53,10,12,88246,89,14,59736,99,20,55530,09,49,54524,98,51,893
Total Expense48,33,52,68544,47,34,45336,02,24,92829,73,95,40223,99,99,340
Profit After Tax3,37,90,4011,59,73,97364,61,52324,23,24568,08,114

Earnings per Equity Share (in Lakhs)

31-Mar-1831-Mar-1731-Mar-16
Basic & Diluted12.205.932.40

From the above statements, one could find that the Iris Clothings Limited may perform well.


Iris Clothings Limited IPO – Promoters

The Promoter of this company are:

  1. Mr. Santosh Ladha
  2. Mrs. Geeta Ladha

List of Related Parties (Key Managerial Personnel)

  • Mr. Santosh Ladha
  • Mrs. Geeta Ladha

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Iris Clothings Limited IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered 12,30,400 Equity Shares of Rs. 10/- each fully paid-up of our Company for cash at a price of Rs. 90/- per Equity Share aggregating upto Rs. 1,107.36/- Lakhsa
 Of which:
 Reserved for Market Makers 62,400 Equity Shares of Rs. 10/- each fully paid-up of our Company for cash at a price of Rs. 90/- per Equity Share aggregating to Rs. 56.16/- lakhs
 Net Issue to the Public 11,68,000 Equity Shares of Rs. 10/- each fully paid-up of our Company for cash at a price of Rs. 90/- per Equity Share aggregating to Rs. 1051.20/- lakhs.a
 Of which:
 Allocation to Retail Individual Investors for upto Rs. 2.00 lakh5,84,000 Equity Shares of Rs. 10/- each fully paid-up of the Company for cash at a price of Rs. 90/-per Equity Share aggregating to Rs. 525.60 lakhs.
Allocation to other investors for above Rs. 2.00 lakh5,84,000 Equity Shares of Rs. 10/- each fully paid-up
of the Company for cash at a price of Rs. 90/- per
Equity Share aggregating to Rs. 525.60 lakhs.
 Equity Shares outstanding prior to the Issue34,30,779 Equity Shares of Rs. 10/- each
 Equity Shares outstanding after the Issue46,61,179 Equity Shares of Rs. 10/- each

Iris Clothings Limited IPO Issue Object

These are the IPO Issue Objects of the company

  • To meet the incremental working capital requirements
  •  To meet the Issue Expenses
  •  For general corporate purposes

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Iris Clothings Limited IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Widespread Distribution Network
  • Customer Satisfaction
  • Quality Assurance
  • Existing relationship with suppliers
  • Experienced ManagementWidespread Distribution Network
  • Customer Satisfaction
  • Quality Assurance
  • Existing relationship with suppliers
  • Experienced Management

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-1812.2033.35%35.82
31-Mar-175.9324.8323.34
31-Mar-162.4013.3617.76
  • Industry P/E Ratio:
ParticularsP/E ratio
Average40.7
Highest263
Lowest8.1
  • Competitive Peers:
ParticularsFace Value (in Rs.)EPS     (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
Ashapura Intimates Fashion Limited1024.702418.888.3
Indian Terrain Fashions Ltd.26.723.713.953.8
S. P. Apparels Limited1016.418.221.3164.5
Iris Clothings Limited1012.207.3733.3535.82

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Iris Clothings Limited IPO Lead Managers

Lead Managers
VC CORPORATE ADVISORS PRIVATE LIMITED
31, Ganesh Chandra Avenue, 2nd Floor, Suite No. 2C,
Kolkata – 700 013
Tel: – (033) 2225 3940,
Fax: (033) 2225 3941
Email:
Investor Grievance Email:
Website: www.vccorporate.com
Contact Person: Mr. Anup Kumar Sharma
SEBI REGN NO: INM000011096

Iris Clothings Limited IPO Registrar to offer

Registrar to the Offer
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building No. 1,
Club House Road, Chennai- 600002
Tel: (044) 2846 0390/1989
Fax: (044) 2846 0129
E-mail:
Website: www.cameoindia.com
Contact Person: Mr. R D. Ramasamy
SEBI REGN No: INR 000003753

Other Details:

  • Statutory Auditor –  AMK & Associates, Chartered Accountants.
  • Peer Review Auditor – AMK & Associates, Chartered Accountants.
  • Bankers to the Company – Axis bank  Limited, Corporation Bank limited ,State Bank oF India

Iris Clothings Limited IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking6.5/106.6/106.6/106.4/106.4/10
Sharekhan6.7/106.4/106.6/106.1/106.2/10
Kotak Securities6.7/106.7/106.7/106.4/106.3/10
ICICI Direct6.6/106.3/106.7/106.5/106.5/10
IIFL6.4/106.7/106.8/106.4/106.7/10
Edelweiss6.7/106.4/106.4/106.3/106.7/10
Zerodha6.5/106.4/106.7/106.4/106.5/10
5Paisa6.7/106.4/106.3/106.7/106.5/10
Karvy6.8/106.3/106.7/106.4/106.0/10
Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

Iris Clothings Limited IPO Grey Market Premium

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