PRESS RELEASE
Bizotic Commercial Limited Announces Opening of INR 42.21 Crore IPO on June 12, 2023
Ahmedabad, India BIZOTIC Commercial Limited, an Ahmedabad-based company operating in the retail sector, is pleased to announce the opening of its Initial Public Offering (IPO) on the SME platform of the Bombay Stock Exchange (BSE). The IPO will open on June 12, 2023, and close on June 15, 2023.
BIZOTIC Commercial Limited aims to raise INR 42.21 crore from the primary market through this IPO on the BSE SME platform. The company will offer its shares at a price of INR 175/- each in lots of 800. The Lead Manager to the issue is INTERACTIVE FINANCIAL SERVICES LIMITED. BIZOTIC Commercial Limited, previously incorporated as a Private Limited Company in 2016, became a Public Limited Company in 2022.
The Company
The company operates in three areas viz, Retail, Wholesale and Trading. The head of operations Sangita Agarwal said that every week they add new Designs in their product so as to stay in the competition and provide new designs to their customers.
Their Retail brand is Urban United, which has 3 stores in full operations right now in Gujarat and they have around 20 outlets across PAN India. The company is planning to make it to 115 stores across India by the end of this calendar year.
Investors Focus
The investors are focusing on having ownership on their own head about 70% of the total shares i.e. 24, 12,000 and 30% will be owned by the public.
The Management and Promoters
The promoters of BIZOTIC Commercial Limited, SANJAY GUPTA and SANGITA AGARWAL, come from a family business background in fabrics and garments. With a shared vision and strong leadership, they ventured into the clothing business, establishing Urban United in Rajasthan. BIZOTIC Commercial Limited encompasses various business segments, including trading, retail, and wholesale.
Urban United, a brand under BIZOTIC Commercial Limited, has become a one-stop-shop solution for Indian men. Offering international quality clothing at affordable prices, Urban United operates numerous Exclusive Brand Outlets (EBOs), currently totaling 20 “Company Stores” and “Franchise” stores, with this number continuously growing.
The management team of BIZOTIC Commercial Limited is comprised of experienced professionals who have excelled in their respective fields. Mrs. INDERPREET KAUR, the Director, has 21 years of experience in the garment and fabric business, specializing in design, quality production, and retail. Mr. MOHIT AGARWAL, also a Director, brings over 25 years of experience in Finance and Risk Management. Additionally, the Managing Director and Promoter, Mr. SANJAY GUPTA, boasts more than 30 years of experience in the fabric industry, while Ms. SANGITA AGARWAL, another promoter, has over a decade of experience in the textile and garments sector.
In terms of financial performance, BIZOTIC Commercial Limited generated an income of INR 53.41 crores during the year 2021-2022, with a profit after tax of INR 59.57 Lakhs. As of December 2022, the company achieved a total income of INR 37.48 crores and a profit after tax of INR 2.90 crores.
As an investor, there are several compelling reasons to consider BIZOTIC Commercial Limited such as Potential Growth of the company, Expansion of stores in the COCO model, Strong Leadership and Management, Customer Loyalty. Additionally, a strong presence in the organized retail and wholesale industry further reinforce the company’s present and future vision.
Investors are encouraged to review the detailed prospectus and consult with their financial advisors for a comprehensive understanding of the investment opportunity presented by BIZOTIC Commercial Limited.
For more information, please refer the prospectus of the company at BSE website www.bseindia.com