Bizotic Commercial Private Limited was originally incorporated on December 29, 2016, as a Private Limited Company under the provisions of the Companies Act, 2013. Later, the company underwent a conversion into a Public Limited Company through a special resolution passed by its shareholders. Consequently, the company’s name was changed to “Bizotic Commercial Limited,” and a fresh certificate of incorporation was issued on December 26, 2022, by the Registrar of Companies, Ahmedabad.
Bizotic Commercial Limited is engaged in the manufacturing, designing, and marketing of readymade garments, offering a diverse range of men’s formal wear, casual wear, party wear, fitness wear, sportswear, comfort wear, ethnic wear, and winter wear. The company serves its customers through retail and e-commerce channels.
The garment manufacturing process includes cutting, stitching, sewing, finishing, inspection, and packing, which are outsourced on a job-work basis to third-party contractors. The contractors procure the raw materials based on the company’s specifications and deliver finished and packaged products to the company’s warehouse/stores. However, the company has not entered into a job work agreement.
Bizotic Commercial Limited follows a franchise model, entering into agreements with franchisees to sell its products at showrooms under the company’s brand name. The franchisees must adhere to terms and conditions such as using only the company’s brand products and wearing uniforms provided by the company. The company’s franchisee stores operate from morning to evening, while its own stores have extended hours.
In the financial year 2017-2018, the company opened its first outlet under its own brand name “URBAN UNITED” in Ajmer, Rajasthan. From 2017 to 2020, approximately 40 franchisee outlets were opened in Rajasthan. However, due to the adverse impact of the COVID-19 lockdown, many franchisee stores had to close, primarily due to high rent charges. Currently, the company operates 20 stores in different cities of Rajasthan and one store in Bihar. Out of these, 17 stores are on a franchisee basis, and the company owns four stores.
Recently, the company has entered into supply agreements with some e-commerce players to expand its reach. It aims to ensure consistent pricing across e-commerce platforms and its own stores to maintain customer trust.
The company is led by its Promoter, Mrs. Sangita Aggarawala, and Promoter & Managing Director, Mr. Sanjay Gupta, who have been involved in the garment industry since their teenage years due to their family business in the same industry. In 2016, Mrs. Sangita Aggarawala and her brother, Mr. Sanjay Gupta, decided to start their own business in the garment industry rather than continue with the family business. Initially, the company focused on fabric trading based in Ahmedabad. Within a year, they expanded into garment manufacturing and trading based on a suggestion from a business associate with strong potential in the retail business in Rajasthan, which is also the birthplace of the promoters.
Bizotic Commercial Limited IPO Complete Details:
| IPO Date | 12 June 2023 to 15 June 2023 |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Face Value | 10 Rs. Per Share |
| Price | Rs.175 |
| Lot Size | 800 |
| Issue Size | 2,412,000 shares (Rs. 42.21 Cr) |
| Fresh Issue | 2,412,000 shares (Rs. 42.21 Cr) |
| Listing Date | 23 June 2023 |
Bizotic Commercial Limited IPO Timetable:
| Activity | Date* |
|---|---|
| Opening Date | 12 June 2023 |
| Closing Date | 15 June 2023 |
| Allotment | 20 June 2023 |
| Initiation of Refunds | 21 June 2023 |
| Credit of Shares to Demat Account | 22 June 2023 |
| Listing Date | 23 June 2023 |
Company Financial Details:
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31 March 2020 | 1,102.04 | 1,113.97 | 16.34 | 29.52 |
| 31 March 2021 | 1,897.65 | 1,679.97 | 34.08 | 63.60 |
| 31 March 2022 | 3,738.37 | 5,341.98 | 59.57 | 123.17 |
AS OF NOW, the GMP OF Bizotic Commercial Limited is Around 2 Rs.