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Jinaams Dress Limited IPO – Review, Allotment, Subscription, GMP & DRHP

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

Jinaam’s Dress Limited is engaged in the business of manufacturing of Indian ethnic and fusion wear for women. They design, manufacture and market wide portfolio of women’s apparels across multiple brands.


Jinaam’s Dress IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments6.5/10
Industry Ranking6.8/10
Company Background7.9/10
Company Reputation6.9/10
Competitive Edge6.7/10
Financial Statements7.8/10
Popularity Index6.4/10
Promoters Reputation7.1/10
Retail Appetite6.9/10
Top Brokers Review7.9/10
Overall Ratings7.1/10
Star Ratings★★★★☆

Summary of Jinaam’s Dress IPO

Jinaams Dress Limited IPOJinaam’s Dress Limited is e are engaged in the business of manufacturing of Indian ethnic and fusion wear for women. They design, manufacture and market wide portfolio of women’s apparels across multiple brands. Initial public offering of Upto 72,00,000 Equity Shares of face value Rs. 10 each fully paid up for at an Issue Price of Rs 59 Per Equity Share each, aggregating to Rs. 42.48 Crores.

From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements,

  • Their revenue from operations was grew from Rs. 13,631.96 lakh to Rs. 15,289.06 lakhs on restated basis at CAGR of 3.90% from FY 2015-16 to FY 2017-18.
  • The net asset value per Equity Share was Rs. 27.39 and Rs. 22.02 as of Sept 30, 2018 and March 31, 2018, respectively, as per the Restated Financial Statements.
  • The net worth is Rs. 4051.37 lakhs and Rs. 3083.34 lakhs as of Sept 30, 2018 and March 31, 2018, respectively, as per the Restated Financial Statements.
  • Their net profit was grew from Rs. 213.57 lakh to Rs. 782.11 on restated basis at CAGR of 54.14% and the EBITDA was grew from 1078.34 Rs. lakhs to Rs. 2007.17 lakhs on restated basis at CAGR of 23.01%.

The Promoters of this company are Rahul Hemraj Oswal, Vishal Hemraj Oswal and Pritam Hemraj OswalThe lead manager to the issue is SMC Capitals Limited and the Registrar to this issue is Bigshare Services Private Limited.



Jinaam’s Dress IPO Date

The opening and the closing date of Jinaam’s Dress IPO is Apr 9, 2019 – Apr 15, 2019.


Jinaam’s Dress IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – Apr 90.12x0.00x0.06x
2nd Day – Apr 100.11x0.02x0.06x
3rd Day – Apr 110.52x0.14x0.33x
4th Day – Apr 120.76x0.31x0.54x
5th Day – Apr 151.34x1.08x1.21x
Shares Offered or Net Issue3,420,0003,420,0006,840,000

The shares subscribed by the public will be updated here.


Jinaam’s Dress IPO Allotment Status

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

Basis of Allotment Finalization22-Apr-19
Refunds Initiation23-Apr-19
Credit of Shares to Demat Account24-Apr-19
Share Listing Date25-Apr-19

Jinaam’s Dress IPO Price Band or Cash Price

The face value of each share is Rs 10, but the price band of the IPO is Rs.59. 


Jinaam’s Dress IPO Equity Share Offering

Initial public offering of Upto 72,00,000 Equity Shares of face value Rs. 10 each fully paid up for at an Issue Price of Rs 59 Per Equity Share each, aggregating to Rs. 42.48 Crores.


Jinaam’s Dress Limited – Company Overview

Jinaam’s Dress Limited is manufacturers of Indian ethnic and fusion wear for women. They design, manufacture and market wide portfolio of women’s apparels across multiple brands. They sell the products through the distribution network spread across 19 states and 4 union territories in India.

They operate a retail store for women’s apparel located at The Gateway Hotel, Surat, Gujarat. They also have an exclusive tie up with e-commerce platform www.manndola.com, owned by one of their Group Company, for online marketing and selling of their products.

They offer a wide range of Indian ethnic and fusion wear for woman which includes ‘lehenga-choli’, ‘kurti’, ‘dupatta’, scarfs and ‘sarees’ of various fabrics such as satin, georgette, crepe, chiffon, velvet, polyester, cotton, silk, wool etc. that caters to a wide variety of the wardrobe requirements of the Indian woman, including everyday wear, casual wear, workwear, evening wear, party wear and occasion-wear at various price range.

Over the years they have developed the brands based on the understanding of target consumers. Their current brand portfolio includes “JINAAM’.”, “FLORAL CREATION”, “ROMA”, “ASMIRA”, “HEROINE”, “BAHNI”, “ZAREEN”, “TIARAA” and “FORMM”. Each brand is catering to different sets of consumer requirements. “Roma” is a brand catering to the women ethnic market in cotton and crepe fabric with high end embroidery and skilled stitching techniques. “Heroine” is the premium clothing brand.

Jinaam’s Dress Limited Competitive Strengths:

  • Creative product designing process
  • Diversified Product Portfolio offering affordable fashion across various price segments
  • Composite Manufacturing facility
  • Experience of the Promoters and the Team

Jinaam’s Dress Limited Business strategies:

  • Expand the presence in retail
  • Increase Brand awareness
  • Expand the presence into Home furnishing
  • Optimum Utilization of Resources
  • Enhance customer base by entering new geographies to establish long-term relationships

Jinaam’s Dress 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 & lakhs)
30-Jun-1831-Mar-1831-Mar-1731-Mar-16
Total Assets15,083.0814,079.6810,353.4111,403.83
Total Revenue7,084.3115,425.1713,501.7713,649.07
Total Expense6,546.3214,256.3413,068.8913,318.65
Profit After Tax385.77782.11287.54213.57

Jinaam’s Dress Limited Earnings per Equity Share (in lakhs)

30-Sept-1831-Mar-1831-Mar-1731-Mar-16
Basic & Diluted2.605.261.941.44

From the above statements, one could find that the Jinaam’s Dress Limited may perform well.


Jinaam’s Dress IPO – Promoters

The Promoters of this company are:

  • Rahul Hemraj Oswal,
  • Vishal Hemraj Oswal 
  • Pritam Hemraj Oswal

List of Related Parties (Key Managerial Personnel)

  • Montu Ghael, Chief Financial Officer
  • Nitinkumar Nanjibhai Maniya, Company Secretary and Compliance Officer
  • Lalit Bhalla
  • Yash Tarmaster
  • Sarita Rawat

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.


Jinaam’s Dress IPO Offer Details or Issue Details

Particulars No. Of Equity Shares
 Equity Shares Offered Upto 72,00,000 Equity Shares of face value Rs. 10 each fully paid up for at an Issue Price of Rs 59 Per Equity Share each, aggregating to Rs. 42.48 Crores.
 Of which:
 Reserved for Market Makers Upto 3,60,000 Equity Shares of face value of Rs. 10 each fully paid up at an Issue Price of Rs. [●] each aggregating to Rs. [●]
 Net Issue to the Public [●] Equity Shares of face value of Rs. 10 each fully paid up at an Issue Price of Rs. [●] each aggregating to Rs. [●]
 Of which:
 Retail Investors Portion [●] Equity Shares of face value of Rs. 10 each fully paid up at an Issue Price of Rs. [●] each aggregating to Rs. [●]
 Non-Retail Investors Portion[●] Equity Shares of face value of Rs. 10 each fully paid up at an Issue Price of Rs. [●] each aggregating to Rs. [●]
 Equity Shares outstanding prior to the Issue1,50,82 000 Equity Shares
 Equity Shares outstanding after the IssueUpto 2,22,82,000 Equity Shares of face value of Rs. 10 each

Jinaam’s Dress IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding the Working Capital requirements of the Company:
  •  Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company; and
  •  General Corporate Purposes

Jinaam’s Dress 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:

  • Creative product designing process
  • Diversified Product Portfolio offering affordable fashion across various price segments
  • Composite Manufacturing facility
  • Experience of the Promoters and the Team

The relevant quantitative factors are:

Basic & Diluted EPSRONW in %NAV (Rs.)
31-Mar-161.4410.61
31-Mar-171.9412.50
31-Mar-185.2623.57
22.02
  • Competitive Peers:
Sr. No. ParticularsFace Value  (in Rs.)Basic EPS (In Rs.)Diluted EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
1 Jinaam’s Dress
Limited
105.265.26NA25.1521.96
2 TCNS Clothing
Co. Limited
216.1215.3653.7422.7476.54

Jinaam’s Dress IPO Lead Managers

Lead Managers
SMC Capitals Limited
A-401/402, Lotus Corporate Park
Jai Coach Junction, Off Western Express Highway
Goregaon (East)
Mumbai- 400063
Telephone: +91 22 6648 1818
Email:
Website:www.smccapitals.com
Investor Grievance Email:
Contact Person: Satish Mangutkar/ Bhavin Shah
SEBI Registration Number: INM000011427

Jinaam’s Dress IPO Registrar to offer

Registrar to the Offer
Bigshare Services Private Limited
1ST Floor, Bharat Tin Works Building
Opp. Vasant Oasis, Makhwana Road, Marol
Andheri (East)
Mumbai – 400 059
Telephone: +91 22 2847 0652/ 4043 0200
Email:
Website:www.bigshareonline.com
Investor Grievance Email:
Contact Person: Ashok S Shetty
SEBI Registration Number: INR000001385

Other Details:

  • Statutory Auditor – C. S. Jariwala & Co.
  • Peer Review Auditor – C. S. Jariwala & Co.,
  • Bankers to the Company – N.A.

Jinaam’s Dress IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Jinaam’s Dress IPO Grey Market Premium

The Jinaam’s Dress IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Jinaam’s Dress IPO News

News 1 – IPO ISSUE OPENS SOON [Download Prospectus]


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