India, 06th October 2022: Mafia Trends Limited became the 394th company to get listed on the BSE SME Platform on October 06th, 2022. Mafia Trends Limited came out with an initial public offering of 12,84,000 equity shares of Rs.10 each (“Equity Shares”) for cash at a price of Rs. 28 per equity share (The “Offer Price”), aggregating to Rs. 3.60 crore. The company has successfully completed its public issue on September 27, 2022.
Mafia Trends Limited is Gujarat based company whose registered office is at Ahmedabad. The company engaged in the business of marketing and selling Men’s fashion which includes apparel such as Jeans, T-shirts, Shirts, Chinos, Formal trousers and Formal shirts. Mafia is a fashion brand that provides affordable outfits yet premium. The company’s business is based on the primary concept of ‘Value Retailing’ following which the company aim to provide the latest fashion trends in apparel and non-apparels for men with an added focus on the demands of the youth and young generation.
Ahmedabad based GYR Capital Advisors Private Limited, was the lead manager to Mafia Trends Limited.
So far, 152 companies have migrated to the main board. The 393 companies listed on BSE SME Platform have raised Rs.4,259.41 crore from the market and total market capitalization of 393 companies as on October 04, 2022 is Rs. 60,000 Crore. BSE is the market leader in this segment with a market share of 60 percent.
SEBI came out with detailed guidelines on 18th May 2010 for launching of SME Exchange/Platform. BSE became the first stock exchange to get the approval from SEBI and launch its SME platform on 13th March 2012.
The response since the launch of this platform by BSE has been very positive till date.