Suumaya Lifestyle Limited IPO
(i) In the year 2011, initially Company was engaged into real-estate business and was listed into ITP segment and the current management with experience of around 30 years into the textile business started dealing in cotton and other fabrics used in the manufacturing of women apparels.
(ii) On April 16, 2017, Suumaya Fashions was acquired by Richway International Trade Limited, Pursuant to the business transfer agreement between Suumaya Fashions, a proprietary firm of Mr. Ushik Gala and Suumaya
Lifestyle Limited (Formerly known as Richway International Trade Limited).The Company acquired assets and liabilities of Suumaya Fashions and all the manufacturing operations were consolidated in the Company. Suumaya Fashions was earlier engaged in the business of manufacturing and trading of dress materials, suits, sarees, kurtis, garments for men, women and kids including daily wear, wearing apparels, party wears, uniforms, sportswear, active wears, inner wear, purses, belts, wallets and other allied goods made from cotton, denim, silk, synthetics, jute, velvet, woollen, leather or with any combination thereof.
(iii)The company is being promoted by Ms. Ishita Gala and India credit risk management LLP. Her industry knowledge and understanding also gives company the key competitive advantage enabling them to expand their geographical and customer presence in existing as well as target markets, while exploring new growth avenues.
(iv) The Company markets products under the brand name “ekka”, “ira” and “tag 9”. They are both in a retail and wholesale business where they provide their designs and satisfy their customers.
Objects of the Issue:
Suumaya Lifestyle Limited IPO are:
Offer for sale 58,00,000 EQUITY SHARES
(i) The Rangoli Tradecomm Private Limited Company is completely exiting from the company by selling 58,00,000 Equity Shares which was issued to it in the month of May 2014 at an average Price of Rs.10.10.
Fresh Issue of 18,88,000 EQUITY SHARES
(ii) Funding working capital requirements
||May 22 2018
||May 25 2018
|| ₹ 10 Per Equity Share
||Fixed Price Issue IPO
|| ₹ 18 Per Equity Share
||Jun 04 2018