Mumbai (Maharashtra) [India], May 15 (BusinessWire India): Mumbai-based Suumaya Lifestyle Limited is planning to enter the capital market by making a public offer up to 76.88 Lakh equity shares of Rs.10.00 each fully paid up for cash at a price of Rs.18.00 per equity share, aggregating to Rs.1383.84 Lakh.
Out of this, fresh issue is up to 18.88 Lakh equity shares, aggregating Rs. 339.84 Lakh and Offer for Sale is 58.00 Lakh equity shares aggregating to Rs. 1044.00 Lakh.
The public issue will open on May 22 and close on May 25.
Suumaya Lifestyle Limited is engaged in manufacturing of designer wear for women like kurtis, ethnic tops and deals in designer women fabrics. The company has deep experience in Indian Ethnic merchandise market and it has developed and honed systems to provide bespoke patterns ranging from traditional designs to even modern contemporary which spell out sheer beauty and class.
The company has its own design and production house and its manufacturing unit is located in Malad. It also has its own team of designers, who develops new styles, fits, finishes to meet the latest trends. It markets its products under the brand names ‘EKKA’, ‘IRA’ and ‘TAG9’, and is both in wholesale and retail business.
Suumaya Lifestyle is promoted by Ishita Mahesh Gala and Indiacredit Risk management LLP. The team of key managerial personnel includes Mahesh Gala (COO), Ushik Mahesh Gala (CEO) and Karishma Ruturaj Kaku (CFO).
The company’s total revenue for the period ended December 31, 2017 was Rs. 24,229.22 Lakh and net profit after tax was Rs. 172.45 Lakh. The asset value per equity share is Rs.11.34. The networth of the Company on December 31, 2017 was Rs. 2509.06 Lakh.
The equity shares of the company are proposed to be listed on the EMERGE Platform of National Stock Exchange of India Limited. The lead manager of the offer is Gretex Corporate Services Private Limited and registrar to the offer is Bigshare Services Private Limited. (BusinessWire India)