Neelam Linens and Garments IPO
GMP, Subscription, Price, Dates & Financial Details
Incorporation & History: Neelam Linens and Garments (India) Ltd was initially incorporated as a private limited company on September 22, 2010, under the name Neelam Linens and Garments (India) Private Limited. On August 12, 2022, the company became a public limited company, and its name was…
Open Date
Fri, 08 Nov 2024
Close Date
Tue, 12 Nov 2024
Price Band
₹ 20 – 24
Lot Size
6000
Issue Size
₹ 13.00 Cr
Minimum Investment
₹ 288,000 (12000 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Neelam Linens and Garments IPO has successfully completed its IPO process and is now listed on NSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹13.00 Crore, comprising a fresh issue of 54.18 Lakh equity shares aggregating to ₹13.00 Crore.
The Neelam Linens and Garments IPO remained open for subscription from November 08, 2024, to November 12, 2024. The basis of allotment was finalized on November 13, 2024, and the company's shares were listed on NSE SME Platform on November 18, 2024.
The company had fixed the price band at ₹20 to ₹24 per share, with a lot size of 6000 shares. Retail investors were required to make a minimum investment of ₹288,000 (based on the upper price band) to apply for one lot.
Purva Sharegistry India Pvt Ltd served as the registrar to the issue. Expert Global Consultants Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Neelam Linens and Garments (India) Ltd is now a publicly listed company on NSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Neelam Linens and Garments IPO Timeline (Tentative)
- IPO Open Date
- Fri, 08 Nov 24
- IPO Close Date
- Tue, 12 Nov 24
- Basis of Allotment
- Wed, 13 Nov 24
- Initiation of Refunds
- Thu, 14 Nov 24
- Credit of Shares to Demat
- Thu, 14 Nov 24
- Listing Date
- Mon, 18 Nov 24 — NSE & BSE
Open Date
08 November 2024
Close Date
12 November 2024
Basis Of Allotment
13 November 2024
Listing Date
18 November 2024
IPO Subscription
Check Live Subscription →The Neelam Linens and Garments IPO has received bids for 33,19,38,000 shares against 36,06,000 shares offered, resulting in an overall subscription of 92.05x. the NII category is subscribed 273.82x, Retail Investors 57.84x, and QIBs 15.4x.
QIB
15.4x
NII
273.82x
RII
57.84x
Total
92.05x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 18,00,000 shares, representing 33.22% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 10,32,000 shares (19.05%), while Non-Institutional Investors (NIIs) receive 7,74,000 shares (14.29%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Anchor Investors | 1,536,000 | 28.35% |
| Market Maker | 276,000 | 5.09% |
| Qualified Institutions | 1,032,000 | 19.05% |
| Non-Institutional | 774,000 | 14.29% |
| Retail Investors | 1,800,000 | 33.22% |
| Total | 5,418,000 | 100% |
Financials Details(₹ in Crores)
| Particular | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 12050.23 | 12116.76 | 9967.97 | 7860.13 |
| Revenue | 2195.39 | 10474.42 | 10541.13 | 10379.69 |
| Profit After Tax | 80.46 | 246.05 | 237.88 | 298.58 |
| Net Worth | 2428.8 | 2348.34 | 2102.3 | 1468.42 |
| Reserve & Surplus | 948.8 | 868.34 | 1362.3 | 1448.42 |
| Total Borrowings | 7566.04 | 6964.94 | 6534.02 | 5110.22 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Neelam Linens and Garments (India) Ltd KPI Information
| Particular | KPI as of June 30, 2023. |
|---|---|
| ROE % | 2.99 |
| ROCE % | 3.84 |
| Debt / Equity | 3.12 |
| RoNW % | 3.31 |
| PbW | 1.46 |
| Pat Margin % | 3.69 |
Peers Comparison
No Peer Comparision Available
About Neelam Linens and Garments (India) Ltd
- Incorporation & History: Neelam Linens and Garments (India) Ltd was initially incorporated as a private limited company on September 22, 2010, under the name Neelam Linens and Garments (India) Private Limited. On August 12, 2022, the company became a public limited company, and its name was changed to Neelam Linens and Garments (India) Limited, with the new Certificate of Incorporation issued on September 1, 2022.
- Corporate Identity: The company’s Corporate Identity Number (CIN) is U17299MH2010PLC208010.
- Headquarters & Facilities:
- Registered Office: Mumbai, Maharashtra (446-447, 4th Floor, Shah & Nahar Industrial Estate, Lower Parel).
- Processing Facilities: Bhiwandi, Maharashtra (Prithvi Complex, Old Agra Road).
- Business Segments:
- Processing and Trading: The company operates as a soft home furnishing business, primarily processing and supplying products like bedsheets, pillow covers, duvet covers, towels, rugs, shirts, and garments. They specialize in adding value to surplus or imperfect fabrics sourced from the domestic market by applying services like dyeing, digital printing, embroidery, and stitching. These products are then sold to discounted retail outlets globally, including the USA, Australia, and Far East regions.
- Sale of Import Licenses: The company also generates revenue by selling import licenses, which are government-issued authorizations required for importing goods subject to regulations. The two types of licenses the company deals with are:
- RODTEP (Remission of Duties and Taxes on Export Product): This license offers financial incentives to exporters, allowing them to sell the e-scripts to importers at a discount.
- ROSCTL (Rebate of State & Central Taxes and Levies): This is another form of export incentive which the company sells to importers. These licenses are primarily aimed at making Indian exports more competitive in global markets.
- License Trading: The company also engages in the buying and selling of import licenses in the market, where they purchase licenses from exporters and sell them to importers, earning a margin from the transaction. This trading activity is often facilitated through brokers or agents.
- Recent Expansion: In 2023, Neelam Linens and Garments expanded into the apparel industry, initiating in-house production of men’s and women’s fashion apparel.
Neelam Linens and Garments (India) Ltd thus operates in the textile sector, focusing on home furnishings and apparel, while also engaging in the trade of import/export licenses as an additional revenue stream.
Neelam Linens and Garments IPO Promoters
- Kantilal Jethva
- Bhavin Jethwa
Promoters Holding
Holding Pre Issue
74.18%
Holding Post Issue
54.29%
Neelam Linens and Garments IPO Objective
The company intends to utilize the proceeds of the issue to meet the following objects:
- Funding capital expenditure requirement of our Company towards the purchase of Embroidery Machines for expansion;
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company;
- General corporate purposes;
Neelam Linens and Garments (India) Ltd Address / Contact Details
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
IPO Snapshot
Neelam Linens and Garments IPO Lot Size
The Neelam Linens and Garments IPO has a lot size of 6,000 shares. Retail investors require a minimum investment of ₹1,44,000 by applying for 1 lot (6,000 shares). The maximum application allowed for the retail category is 1 lots (6,000 shares), requiring an investment of ₹1,44,000.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 6,000 | 144,000.00 |
| Retail (Max) | 1 | 6,000 | 144,000.00 |
| S-HNI (Min) | 2 | 12,000 | 288,000.00 |
Issue Reservation
- Anchor Investors — 28.35%
- Market Maker — 5.09%
- QIB — 19.05%
- NII — 14.29%
- RII — 33.22%
Book Running Lead Managers
- Expert Global Consultants Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Neelam Linens and Garments IPO?
Neelam Linens and Garments IPO is a Book-building IPO with a total issue size of ₹13 crore. The Neelam Linens and Garments IPO price band is ₹20 to 24 per share. The Neelam Linens and Garments IPO subscription opens on Fri, Nov 8, 2024, and closes on Tue, Nov 12, 2024. The Neelam Linens and Garments IPO will be listed on the NSE. Purva Sharegistry India Pvt Ltd is the registrar for the Neelam Linens and Garments IPO.
When will the Neelam Linens and Garments IPO open for subscription?
The Neelam Linens and Garments IPO opens on Fri, Nov 8, 2024 and closes on Tue, Nov 12, 2024
What is Neelam Linens and Garments IPO Price Band?
Neelam Linens and Garments IPO Price Band is ₹20 to 24 per share.
What is Neelam Linens and Garments IPO Lot Size?
Neelam Linens and Garments IPO lot size is 6000 shares, Retail investors need a minimum investment of ₹288000 based on the upper price band
What is the minimum investment for Neelam Linens and Garments IPO?
The minimum investment for Neelam Linens and Garments IPO is ₹288000, based on one lot of 6000 shares at the upper price band of ₹24 per share.
How to apply for Neelam Linens and Garments IPO?
Investors can apply for the Neelam Linens and Garments IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Nov 12, 2024. The application amount remains blocked until the Neelam Linens and Garments IPO allotment is finalized.
What is Neelam Linens and Garments IPO Issue Size?
Neelam Linens and Garments IPO issue size is ₹13 crores.
What is the Neelam Linens and Garments IPO Allotment Date?
Neelam Linens and Garments IPO allotment date is Wed, Nov 13, 2024.
Who is the Neelam Linens and Garments IPO Registrar?
The registrar for Neelam Linens and Garments IPO is Purva Sharegistry India Pvt Ltd. Investors can go to Purva Sharegistry India Pvt Ltd website to check Neelam Linens and Garments IPO allotment status, refund processing, and other IPO-related information.
What is the Neelam Linens and Garments IPO GMP?
The Neelam Linens and Garments IPO GMP (Grey Market Premium) is ₹14 as of Mon, Nov 18, 2024. Based on the upper price band of ₹24 per share, the estimated Neelam Linens and Garments IPO listing price is ₹38, indicating a potential listing gain of approximately 58.33% over the issue price.
Who is the Neelam Linens and Garments IPO Lead Manager?
The book-running lead managers (BRLMs) for the Neelam Linens and Garments IPO are Expert Global Consultants Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Neelam Linens and Garments IPO Red Herring Prospectus (RHP).