Mittal Life Style Ltd (MLSL) is a house dealing in Denim Fabrics. It is Mumbai based company dealing in Denim & Bottom weight Fabrics. This company is a prominent supplier of Fashion Fabrics, Cotton Canvas denim, Dupion bottom Fabrics, Polyester Fabrics, Cotton Fabric, knit fabrics etc. to the textile industry. MLSL’s IPO is now open and will remain open for applying till 21st March 2018. Based on the issue details and issue price, I will guide you whether to invest in this issue through this post which can be considered as our Mittal Life Style Ltd IPO Review.
About Mittal Life Style Ltd IPO :
- IPO Opens on – March 19, 2018.
- IPO Closes on – March 21, 2018.
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 21 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Market Lot – 6000 Shares.
- Minimum Order Quantity – 6000 Shares.
- Issue Size – 2,100,000 Equity Shares of Rs 10 aggregating up to Rs 4.41 Cr.
- Listing Exchange – NSE SME Exchange.
- Draft Prospectus – Click Here.
Objectives of the issue:
- Repayment of Unsecured Borrowings.
- General Corporate Purpose.
- Issue Expenses.
About The Company –
- Mittal Life Style Ltd is incorporated in the year 2005.
- This company has tied-up with about 16 Composite mills to get denim fabric manufactures as per its need and requirements.
- Mittal Life Style Ltd’s regular suppliers are Mafatlal Industries Limited, Oswal Industries Limited, Bhaskar Industries Private Limited, Nandan Denim Limited etc.
- This company has also tie-up with 11 logistic companies to pick denim fabric from various mills and warehouse at their premises.
- Mittal Life Style Ltd’s competitive strengths is existing relationship with suppliers.
- It is a customer centric business model company.
- Mittal Life Style Ltd’s also strengths is Promoters and Experienced Management.
- This company had 12 Permanent employees.
- Mittal Life Style Ltd have been catering high quality fabrics in the national market.
Promoters of the company :
- Mr. Brijeshkumar Jagdishkumar Mittal, aged 58 years, is the Promoter and Managing Director of this company.
- Mr. Pratik Brijeshkumar Mittal, aged 28 years, is the Promoter, Executive Director and Chief Financial Officer of this company.
- JK Denim Fab Private Limited, is the other promoter of this company.
Mittal Life Style Ltd IPO Review:
Little or no profits till the financial year 2016 is the financial snapshot of the company. The current earnings per share are 0.68 as per the last financial year’s data and the PE ratio is at 30.88. Considering the financial performance and the high issue price of Rs. 21 per equity share, our Mittal Life Style Ltd IPO Review suggests investors to stay away from this issue.