Mish Designs is engaged in processing fabrics into garments under the brand name “MISH”, “CURVES BY MISH” in India. The company is currently exporting its product to the United Arab Emirates under the brand name “ZOEY”. The company offers a collection of 1000+ trendy designs to meet the diverse requirements of the customers. The company offers a wide range of products in the category of women’s wear such as dresses, tops, co-ords, t-shirts, trousers, and palazzos.
IPO Review
| Parameters | Score (0-5) | Comments |
|---|---|---|
| Promotors/Sr. Management & Work Ethics | 4 | Well experienced promotors. No red flags as per the RHP – litigations, open criminal proceedings, tax proceedings, etc. |
| Company Financials | 3 | Current FY number projections, based on Q1, are not showing much growth. Company is posting very low PAT. |
| Segment Growth Opportunity | 3 | No moat and highly competitive business. Moderate growth expected for the sector. |
| Asking Valuation (compared with Peers) | 3 | Asking PE is ~22x, peers in the range of 35-80x. Considering financials, the asking valuation is high. |
| Lead Manager’s past performance | 3 | Avg ~2.7% listing day gain for last 18 IPOs (2021-2023). |
| Consolidated Score | 3.2 |
Disclaimer – This is not an investment advice. Nobody has paid us anything for writing this review. This analysis is for education purposes only.
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