Iris Clothings is engaged in the business of manufacturing, designing, branding and selling of kids wear. It is Kolkata based company. In this article, we will analyze Iris Clothings IPO Review with each and every detail of the company.
Iris Clothings IPO Review Issue Details :
For Iris Clothings IPO Review check the issue details of the company.
- IPO Opens on – October 10, 2018.
- IPO Closes on – October 12, 2018.
- Issue Type – Fixed Price Issue IPO.
- Face Value – Rs.10 per Equity Share.
- Issue Price – Rs. 90 Per Equity Share.
- Min Order Quantity – 1,600 shares.
- Market Lot – 1,600 shares.
- Retail Allocation – 50%
- Issue Size – 1,230,400 Equity Shares of Rs. 10 aggregating up to Rs. 11.07 Cr.
- Listing Exchange At – NSE SME Exchange.
- Draft Prospectus – Click Here.
Objectives of the issue of the Company :
- To meet the incremental working capital requirements of Iris Clothings.
- To meet the expenses of issue of this company.
- For general corporate purposes of Iris Clothings.
About The Company –
- Iris Clothings is incorporated in 2004.
- This company sells their products 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 has been able to establish DoReMe as a mid-market, comfortable, and high-quality junior Kids Wear brand.
- This company makes different kinds of products includes Tops, T-shirts, Pants, Shorts, Frock, Dresses, and Towels among others catering to Kids Wear category.
- Iris Clothings has an active distribution network of 60 plus distributors across cities or states with reach to more than 4,000 retailers.
- This company has more than 600 employees on its payroll.
Top Shareholders of the Company :
- Geeta Ladha.
- Santosh Ladha.
- Baldev Das Ladha HUF.
- Santosh Ladha HUF.
- Kamala Devi Ladha.
- Punita Singhania.
- Baldev Das Ladha.
- Sharmila Gaurang Vasani.
- Gaurang Shashikant Vasani.
- Vikash Patwari.
- Vishal Patwari.
Iris Clothings Limited –
103/24/1, Foreshore Road,
Shibpur, Binani Metal Compound,
Howrah – 711102.
Phone : +91 33 26373856
Email: [email protected]
Website : www.doreme.in
The promoter of Iris Clothings :
- Mr Santosh Ladha, aged about 40 years, is the Promoter and Managing Director of this company.
- Mrs Geeta Ladha, aged about 39 years, is the Promoter and Whole Time Director of this company.
The Board of Directors of this company :
- Mr Santosh Ladha, aged about 40 years, is the Managing Director of this company.
- Mrs Geeta Ladha, aged about 39 years, is the Whole Time Director of this company.
- Mr. Baldev Das Ladha, aged about 75 years, is the Non-Executive Director of this company.
- Mr. Rajesh Kumar Rathi, aged about 43 years, is the Non-Executive and Independent Director of this company.
- Mrs. Sujata Saha, aged about 66 years, is the Non-Executive and Independent Director of this company.
Competitive Strengths of Iris Clothings :
Widespread Distribution Network of Iris Clothings :
Iris Clothings Limited generally sell their products through a network of distributors and dealers or traders located at different locations of the country. At present this company has the distribution network of around 60 plus distributors spread across various states. Iris Clothings widespread distribution network provides the wide geographical presence in terms of coverage of different states of the country.
Customer Satisfaction with this company :
This company continuously strive to serve their customers according to their needs and requirements with a customized approach. Iris Clothings Limited continuously takes steps to ensure timely delivery along with consistency in the quality of the manufactured products.
Quality Assurance of Iris Clothings :
Iris Clothings Limited believe in quality manufacturing and aim to deliver qualitative products to the satisfaction of customers. This company adopts quality check to ensure the adherence to desired specifications, quality, and colors. Iris Clothings is dedicated to quality products, processes, and inputs.
Existing relationship with suppliers of this company :
This company has to acquire fabric and accessories from two of their suppliers and have worked with them for a long time. Iris Clothings believe that their strong relationships with suppliers will enable us to continue to grow their business. Due to the relationships with their suppliers, this company get quality and timely supplies of fabric and accessories.
Experienced Management of Iris Clothings :
Iris Clothings Limited’s promoters are supported by a dedicated management team with several years of experience in their respective domains of sales, marketing, strategy, and finance. This company believes their senior management team leverages their market position. Iris Clothings also trust their collective experience and knowledge in the industry. This company executes their business strategies and drive their future growth.
Business Strategies for this company :
- Expanding the clientele network by the geographic expansion of Iris Clothings Limited.
- One of the strategies is a reduction in operational costs and achieving efficiency.
- Focus on a cordial relationship is the main business strategy of this company.
- Another strategy of Iris Clothings is increasing brand visibility.
- Enhancing the trading and manufacturing capacities of this company.
Company Financials :
Iris Clothings IPO Review :
This statement reflects past five fiscal year profit loss statement of the company. Along with the five fiscal years, the statement represents last 1 quarters’s data. It states that in the FY 2018, the company reached 337.90 level. In the year 2015, the profit level falls to some extent. Now, let’s just focus on the fundamental details of the particular company. The quantitative data are derived from the prospectus of the company, termed as DRHP. So, have a look at the prospectus. According to the year 2018, basics and diluted earnings per share stands at the level of 12.20. Price to earnings ratio as per the last fiscal year is at 7.34. Return on Net Worth is 33.35 percent in 2017-18. NAV/Share is 35.82. Hence, at the end of the discussion, based on the analytical details, Iris Clothings IPO Review is NEUTRAL. Investors may invest on the IPO for long-term horizon.
Categories: IPO Review