Mittal Life Style Rights Issue is scheduled on 11 – 21 Oct 2024
Mittal Life Style proudly introduces itself as a renowned trading house specializing in Denim and Bottom Fabrics. The company is a leading supplier of Fashion Fabrics, Cotton Canvas Denims, Dupion Bottom Fabrics, Polyester Fabrics, Cotton Fabrics, Knit Fabrics, and more to the textile industry.
The company holds manufacturing rights for denim jeans under the brands “GERICHO LONDON,” “MITTALIER LONDON,” and “MCALLEN PARIS.” Since 2020, Mittal Life Style has been selling denim apparel under these brands on various e-commerce platforms, including Flipkart, Snapdeal, Amazon, Glowroad, Limeroad, Paytm, Meesho, Shopclues, and 2GUD. Some of the company’s regular suppliers include Arvind Ltd, Oswal Industries, Bhaskar Industries, and Jindal Denims. The company also has logistics partnerships with firms such as Arrow India Logistics, New India Logistics, Vikas Freight Carriers, and Shiv Krupa Transport Solution.
Promoters of Mittal Life Style – Pratik Brijeshkumar Mittal, Brijeshkumar Jagdishkumar Mittal, and J K Denim Fab Private Limited
Table of Contents
Mittal Life Style Rights Issue Details
| Mittal Life Style Rights Issue Date | 11 – 21 October 2024 |
| Mittal Life Style Rights Issue Price | INR 2 per share |
| Issue Size (in Shares) | 14,79,66,925 shares |
| Issue Size (in INR) | INR 29.59 crore |
| Issue Entitlement | 1 equity shares for every 2 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Mittal Life Style Rights Issue Record Date | 3 October 2024 |
| Face Value | INR 1 per share |
| Listing On | NSE |
Mittal Life Style Rights Issue Calculation
| Mittal Life Style Rights Issue Price | INR 2 per share |
| Market Price on Rights Issue Approval | INR 2.14 per share |
| Dilution Factor (X) | 1.5 |
| Fair Value After Dilution at Prevailing Price | INR 2.09 per share |
Mittal Life Style Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 51.82 | 63.57 | 67.38 |
| Expenses | 51.47 | 62.93 | 66.41 |
| OPM (%) | 0.68 | 1.01 | 1.44 |
| Net income | 0.17 | 0.52 | 1.72 |
| ROCE (%) | 1.57 | 2.30 | 2.23 |
Mittal Life Style Rights Offer Objectives
The net proceeds from the offer are proposed to be used for the following objective
- To augment the existing and incremental working capital requirement of the company
- General Corporate Purposes
Mittal Life Style Rights Offer Documents
- Mittal Life Style Rights Issue Application Form
- Mittal Life Style Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Mittal Life Style Rights Issue Dates
| Rights Issue Approval Date | 4 July 2024 |
| Rights Issue Record Date | 3 October 2024 |
| Credit of Rights Entitlement | 8 October 2024 |
| Rights Issue Opening Date | 11 October 2024 |
| Last Date for Market Renunciation | 16 October 2024 |
| Rights Issue Closing Date | 21 October 2024 |
| Finalization of Basis of Allotment | 28 October 2024 |
| Rights Allotment Date | 31 October 2024 |
| Credit Date | 5 November 2024 |
| Listing Date | 7 November 2024 |
Mittal Life Style Rights Offer Lead Manager
SAFFRON CAPITAL ADVISORS PRIVATE LIMITED
605, SiXlh Floor, Centre Pont, Andheri-Kura Road,
J. B. Nagar, Andheri (East), Mumbai – 4 00 059, Maharashtra
Phone: +91 22 49730394
Email: [email protected]
Website: www.saffronadvisor.com
Mittal Life Style Rights Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200/22
Email: [email protected]
Website: www.bigshareonline.com
Mittal Life Style Issue Contact Details
MITTAL LIFE STYLE LIMITED
Unit No. 8/9, Ravikiran, Ground Floor, New Link Road,
Andheri (West), Mumbai – 400 053, Maharashtra
Phone: 022 26741787 / 26741792
E-mail: [email protected]
Website: www.mittallifestyle.in
Mittal Life Style Rights Offer FAQs
What is the Mittal Life Style Rights Issue Price?
The issue price is INR 2 per share.
What is the Mittal Life Style Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Shares for every 2 Equity Shares held on the record date.
What is the Mittal Life Style Rights Issue Record Date?
The Record date is 3 October 2024.
How to Apply in Mittal Life Style Rights Offer?
The best way to apply in the Mittal Life Style Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
