The Neelam Linens and Garments IPO has been structured as a book-built issue valued at ₹13.00 crores, comprised entirely of a fresh issue of 54.18 lakh shares. Subscriptions for the Neelam Linens and Garments IPO are scheduled to open on November 8, 2024, and close on November 12, 2024.
The finalization of allotments for this IPO is expected to occur on Wednesday, November 13, 2024, with the listing planned on NSE SME on a tentative date of Monday, November 18, 2024.
The IPO price band has been set between ₹20 to ₹24 per share, with a minimum application lot size of 6,000 shares. For retail investors, the required minimum investment is ₹144,000, while high-net-worth individuals (HNIs) will need a minimum investment of ₹288,000, covering 2 lots (12,000 shares).
| IPO Date | November 8, 2024 to November 12, 2024 |
| Listing Date | November 18, 2024 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 20 to ₹ 24 / Share |
| Lot Size | 6000 Shares |
| Total Issue Size | ₹13.00 Cr |
| Fresh Issue | ₹13.00 Cr |
| Offer for Sale | |
| Employee Discount | |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 14,800,000 |
| Share holding post issue | 20,218,000 |
| Market Maker portion | 276,000 shares |
Neelam Linens and Garments India Ltd IPO opens on November 8, 2024, and closes on November 12, 2024.
| IPO Open Date | November 8, 2024 |
| IPO Close Date | November 12, 2024 |
| Basis of Allotment | November 13, 2024 |
| Initiation of Refunds | November 14, 2024 |
| Credit of Shares to Demat | November 14, 2024 |
| Listing Date | November 18, 2024 |
| Cut-off time for UPI mandate confirmation | November 12, 2024 |
A minimum of 6,000 shares can be bid by investors, with bids allowed in multiples of this lot size. The table below illustrates the minimum and maximum investment required by retail investors and HNIs, both in terms of shares and corresponding amounts.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6,000 | Rs.144,000 |
| Retail (Max) | 1 | 6,000 | Rs.144,000 |
| S-HNI (Min) | 2 | 12,000 | Rs.288,000 |
| S-HNI (Max) | |||
| B-HNI (Min) | |||
| HNI (Min) |
| Share Holding Pre Issue | 74.18% |
| Share Holding Post Issue | 54.29% |
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
|
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
|
| Employee Shares Offered | |
|
| Total Shares Offered | |
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
Incorporated in September 2010, Neelam Linens and Garments (India) Ltd. is recognized as a soft home furnishing company. Bedsheets, pillow covers, duvet covers, towels, rugs, doors, shirts, and garments are processed, finished, and supplied by the company, primarily for discounted retail outlets.
The business operations are organized into two segments:
Two manufacturing units are operated by the company in Bhiwandi, Thane, Maharashtra.
Products are sold to both domestic and international clients. Domestic customers include Vijay Sales, Amazon, Meesho, and Amersons stores, while international clients feature Tuesday Morning, TJX, Pem America, Ocean State Job Lot, LinCraft Australia, Big Lots, 99 Cents, and U.S. Polo Assn.
Currently, 4,000 sets are manufactured daily by the company, with a production capacity of up to 6,000 sets per day.
Competitive Strengths:
| KPI | Values |
|---|---|
| ROE | 2.99% |
| ROCE | 3.84% |
| Debt/Equity | 3.12 |
| RoNW | 3.31% |
| P/BV | 1.46 |
| PAT Margin (%) | 3.69 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.66 | 1.59 |
| P/E (x) | 14.44 | 15.08 |
The proceeds of the issue are intended to be utilized by the company to meet the following objectives:
Neelam Linens and Garments (India) Ltd 446-447, 4th Floor, Shah & Nahar Industrial Estate Sitaram Jadav Marg Lower Parel, Delisle Road, Mumbai- 400013 Phone: +91 2224942454 Email: compliance@neelamgarments.com Website: http://neelamgarments.com/ |
Purva Sharegistry India Pvt Ltd Phone: +91-022-23018261/ 23016761 Email: support@purvashare.com Website: https://www.purvashare.com/investor-service/ipo-query |
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