Neelam Linens and Garments IPO Detail: Open Date, Close Date, GMP, Price Band

Neelam Linens and Garments IPO subscription opens from Friday, November 08, 2024, and closes on Tuesday, November 12, 2024. It is a book-built issue of worth up to Rs 13 crores of equity shares. This upcoming IPO is an entirely fresh issue of 54.18 lakh equity shares.

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Neelam Linens and Garments IPO Price Band

Neelam Linens and Garments IPO price band is Rs 20 to Rs 24 per share. The minimum investment required for retail investors is Rs 1,44,000 (24 x 6000 shares). However, for the HNI category, the minimum investment amount required is Rs 2,88,000 (24 x 12,000 shares).

Neelam Linens and Garments IPO GMP

Currently, Neelam Linens and Garments IPO GMP (grey market premium) is at Rs 0. It is expected that the listing price can same as the allotment price that is Rs 24. However, if the subscription is oversubscribed, then Neelam Linens and Garments IPO GMP may go up.

Neelam Linens and Garments Allotment Status

Neelam Linens and Garments IPO Allotment status will be available on its registrar Purva Sharegistry India Private Limited website on Wednesday, November 13, 2024. Once the subscription ends after the closing of IPO bidding. The allotment status of investors who applied for IPO will be available on the registrar’s website.

Neelam Linens and Garments Listing Date

Neelam Linens and Garments IPO listing date is decided on November 18, 2024. The Listing will be on the NSE SME platform. Retail investors can sell the shares after 10 AM on the listing day.

Neelam Linens and Garments IPO: Listing Date, Lot Size, Issue Size, Price Band

Neelam Linens and Garments IPO: About the Company

Neelam Linens and Garments (India) Limited founded in 2010, based in Maharashtra, specializes in high-quality soft home furnishings and fashion apparel. The company is renowned for its luxurious high thread count bedding, catering to both domestic and international markets. Neelam Linens exports to major retailers like TJX and Amazon, emphasizing competitive pricing and superior quality. The company is set to launch an IPO from November 8 to November 12, 2024, aiming to raise INR 13 crores for expanding its embroidery capabilities and reducing debt. With a robust production capacity of up to 6,000 units daily, Neelam Linens combines traditional craftsmanship with modern technology to meet diverse customer needs globally.

Neelam Linens and Garments IPO Objectives

The company intends to utilize the proceeds of the issue to fund the capital expenditure for the purchase of embroidery machines for expansion, to prepay or repay certain outstanding borrowings, and for general corporate purposes.

Neelam Linens and Garments IPO: Key Dates, Allotment, Listing Date 

Neelam Linens and Garments IPO Subscription Details, IPO Reservation

Neelam Linens and Garments IPO subscription details will be available after the IPO opens on November 8, 2024. Not less than 35% of the net offer is reserved for the retail category, not more than 50% of the net offer is reserved for Qualified Intuitional Buyers, and not less than 15% of the net offer is reserved for the HNI category.

Neelam Linens and Garments IPO Lot Size Details

Neelam Linens and Garments IPO lot size, is set at 6000 shares per lot. The minimum investment required for retail investors is Rs 1,44,000 (24 x 6000 shares). However, for the HNI category, the minimum investment amount required is Rs 2,88,000 (24 x 12000 shares).

Neelam Linens and Garments IPO Promoter Holdings

Neelam Linens and Garments IPO promoters are Kantilal Jethva and Bhavin Jethwa. The promoter’s combined shareholdings before the IPO was 74.18%; however, post-IPO their shareholdings will decline to 54.29%.

Neelam Linens and Garments Limited Company Financials (Amt in Lakhs)

Lead manager and Registrar of Neelam Linens and Garments IPO

The IPO is managed by Expert Global Consultants Private Limited, which is the book-running lead manager for this public issue. The company has appointed Purva Sharegistry India Private Limited as the registrar for this public issue.

How to apply to Neelam Linens and Garments IPO

Interested investors who wants to apply to the Neelam Linens and Garments IPO can directly apply from Bigul trading app or you can apply by visiting here. You can also check the details of other upcoming IPO on Bigul platform.

Neelam Linens and Garments IPO Review

Neelam Linens and Garments Limited operates in a highly competitive and fragmented sector, they focuses on processing and trading in home furnishings, along with related services, and also engages in the sale of import licenses. Financially, the company has shown a stable but somewhat inconsistent performance pattern to date, which may be worth noting for potential investors. Its debt-equity ratio stands at 3.12 as of June 30, 2024, which could indicate a reliance on leverage that warrants careful consideration.

Neelam Linens and Garments IPO FAQs

1. What are the core details available of the Neelam Linens and Garments IPO?

Neelam Linens and Garments IPO is a book-built issue worth up to Rs 13 crores. This upcoming IPO is entirely fresh issue of 54.18 lakh equity shares.

2. What is the Neelam Linens and Garments IPO open date and close date?

Neelam Linens and Garments IPO subscription opens on Friday, November 8 2024, and closes on Tuesday, November 12 2024.

3. What is Neelam Linens and Garments IPO GMP?

Currently, Neelam Linens and Garments IPO GMP (grey market premium) is at Rs 0. It is expected that the listing price can same as the allotment price that is Rs 24. However, if the subscription is oversubscribed, then Neelam Linens and Garments IPO GMP may go up.

4. How do you check the IPO Allotment status?

Neelam Linens and Garments IPO Allotment details are available on its registrar Purva Sharegistry India Private Limited website. Once the subscription ends after the closing of IPO bidding. The allotment status of investors who applied for IPO will be available on the registrar’s website.

5. Who is the registrar and lead managers for Neelam Linens and Garments IPO?

The IPO is managed by Expert Global Consultants Private Limited, which is the book-running lead manager for this public issue. The company has appointed Purva Sharegistry India Private Limited as the registrar for this public issue.

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• Difference between SME IPO and Mainline IPO?