Neelam Linens and Garments IPO Details
The Neelam Linens and Garments IPO is a book build issue with a total issue size of ₹13 cr, comprising of fresh issue of 5418000 equity shares. Neelam Linens and Garments IPO opened for subscription on Nov 08, 2024 and closed on Nov 12, 2024. Neelam Linens and Garments IPO is set price band at ₹20 to ₹24 per share, with a lot size of 6000 shares. Minimum investment for Retail investors was ₹288,000.00 (at the upper price band) to apply for one lot.
The basis of allotment got finalized on Nov 13, 2024, and listed on the NSE on Nov 18, 2024.
Purva Sharegistry India Pvt Ltd has been appointed as the registrar. Expert Global Consultants Private Limited are the Book Running Lead Manager for the issue.
Before investing in the Neelam Linens and Garments IPO, investors should review the company's financial performance, business objectives, and risk factors mentioned in the offer documents and apply before the subscription window closes.
- Price Band
- ₹ 20 – 24
- Lot Size
- 6000
- Issue Size
- ₹13 Cr
- Minimum Investment
- ₹288000 (12000 Shares)
- Listing Date
- 18 November 2024
Current GMP
₹14 (+58.33%)
*Info is indicative. Not an Investment Advice. Grey market trading is unregulated.
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;
Address / Contact Info
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
Book Running Lead Managers
- Expert Global Consultants Private Limited
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an 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.
The Neelam Linens and Garments IPO opens on Fri, Nov 8, 2024 and closes on Tue, Nov 12, 2024
Neelam Linens and Garments IPO Price Band is ₹20 to 24 per share.
Neelam Linens and Garments IPO lot size is 6000 shares, Retail investors need a minimum investment of ₹288000 based on the upper price band
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.
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.
Neelam Linens and Garments IPO issue size is ₹13 crores.
Neelam Linens and Garments IPO allotment date is Wed, Jul 1, 2026.
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.
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 0% over the issue price.