Lorenzini Apparels Limited manufactures, designs and markets readymade garments. This company offers a diverse range of formal, semi-formal and casual wear for men and casual wear for women under the brand name ‘Monteil & Munero’, ‘Monteil’ and ‘Calgari’. The date of their public issue can be declared any day. In this post lets quickly go through the Lorenzini Apparels Limited IPO Review and quickly check the issue price, issue date, draft prospectus etc.
About Lorenzini Apparels Limited IPO :
- IPO Opens On – January 31, 2018
- IPO Closes On – February 6, 2016
- Face Value – Rs 10 Per Equity Share.
- Issue Price – Rs 10 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Minimum Lot – 10000 equity shares.
- Minimum Order Quantity – 10000 equity shares.
- Issue Size – 4,470,000 Equity Shares of Rs 10 aggregating up to Rs 4.47 Cr.
- Listing Exchange – BSE SME exchange.
- Draft Prospectus – Download.
Objectives of the issue:
- Funding of working capital requirements of the Company.
- Issue Expenses.
About The Company –
- Lorenzini Apparels Limited is incorporated in 2007.
- This Company has manufacturing process includes cutting, stitching, sewing, finishing, inspection and packing which is setup at Delhi and also has outsources some of the manufacturing.
- Lorenzini Apparels Limited sells its products through retail shops and online.
- This company sells its products through 18 exclusive stores/oulets located in Delhi, Haryana and Uttar Pradesh.
- The company has also made supply agreements with some of the e-commerce platforms like Myntra, Flipkart, Limeroad, Jabong, Paytm, Amazon etc.
- They also use a franchise based model to sell their products.
- Lorenzini Apparels Limited has 62 employees including 2 management personnel, 10 Skilled, 40 semi skilled and 12 unskilled employees.
Promoters of the company :
- Sandeep Jain, aged 35 years, is the Managing Director of the Company. His 10 years of experience in the readymade garments industry. Sandeep Jain is also responsible for developing business strategies and instrumental in formulating strategic growth.
- Deepika Jain, aged 36 years, is the Whole-time Director of the Company.
Lorenzini Apparels Limited IPO Review: On the financial year 2013 the company has posted net losses. After that, they have posted profits in the financial years 2014 and 2015. But again on the FY 2016, the company went into loss and again managed to be back in profits in the FY 2017. Due to the financial status is a bit unstable, our Lorenzini Apparels Limited IPO Review is NEUTRAL on this issue. Invest in Lorenzini Apparels Limited IPO only if you are sitting on cash and wait for long-term.
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