SUUMAYA LIFESTYLE LIMITED TO ENTER INTO THE CAPITAL MARKETPosted by on 16/05/18
Mumbai based Suumaya Lifestyle Limited is planning to enter into the capital market by making public offer upto 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 Tuesday, 22 nd May 2018 and shall close on Friday, 25 th May 2018. Suumaya Lifestyle Limited is engaged in manufacturing of designer wear for women like kurtis, ethnic tops and deals in designer women fabrics. The Promoter Ms. Ishita Mahesh Gala and the KMPs has deep experience in Indian Ethnic merchandise market in women wear. The Company 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, Mumbai. The Company has its own team of designers, who develops new styles, fits, finishes to meet the latest trends. The Company markets its products under the brand names ‘EKKA’, ‘IRA’ and ‘TAG9’. The Company is both in wholesale and retail business. The Company is being promoted by Ms. Ishita Mahesh Gala and Indiacredit Risk management LLP. The team of key managerial personnel includes Ms. Ishita Mahesh Gala (MD), Mr. Mahesh Gala (COO), Mr. Ushik Mahesh Gala (CEO) and Ms. 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 networth of the Company as 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.