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Neelam Linens IPO is a book build issue of ₹13.00 crores. The issue is entirely a fresh issue of 0.54 crore shares of ₹13.00 crore.
Neelam Linens IPO bidding started from Nov 8, 2024 and ended on Nov 12, 2024. The allotment for Neelam Linens IPO was finalized on Nov 13, 2024. The shares got listed on NSE SME on Nov 18, 2024.
Neelam Linens IPO price band is set at ₹24.00 per share . The lot size for an application is 6,000. The minimum amount of investment required by an retail is ₹1,20,000 (6000 shares). The minimum lot size investment for HNI is 2 lots (12,000 shares), amounting to ₹2,88,000.
Expert Global Consultants Pvt.Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue. The market maker of the company is Globalworth Securities Ltd..
Refer to Neelam Linens IPO RHP for detailed Information.
| IPO Date | November 8, 2024 to November 12, 2024 |
| Listing Date | November 18, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹20 to ₹24 per share |
| Issue Price Final | ₹24 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 54,18,000 shares (aggregating up to ₹13.00 Cr) |
| Reserved for Market Maker | 2,76,000 shares Globalworth Securities Ltd. (aggregating up to ₹0.6624 Cr) |
| Net Offered to Public | 51,42,000 shares (aggregating up to ₹12.34 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,48,00,000 shares |
| Share Holding Post Issue | 2,02,18,000 shares |
Neelam Linens and Garments IPO offers total 54,18,000 shares. Out of which 25,68,000 (47.40%) allocated to QIB, 10,32,000 (19.05%) allocated to QIB, 7,74,000 (14.29%) allocated to NII, 18,00,000 (33.22%) allocated to RII and 15,36,000 (28.35%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,76,000 (5.09%) |
| QIB Shares Offered | 25,68,000 (47.40%) |
| − Anchor Investor Shares Offered | 15,36,000 (28.35%) |
| − QIB (Ex. Anchor) Shares Offered | 10,32,000 (19.05%) |
| NII (HNI) Shares Offered | 7,74,000 (14.29%) |
| Retail Shares Offered | 18,00,000 (33.22%) |
| Total Shares Offered | 54,18,000 (100.00%) |
Neelam Linens IPO raises ₹3.69 crore from anchor investors. Neelam Linens IPO Anchor bid date is November 7, 2024. Neelam Linens IPO Anchor Investors list
| Bid Date | November 7, 2024 |
| Shares Offered | 15,36,000 |
| Anchor Portion Size (In Cr.) | 3.69 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 13, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 11, 2025 |
Neelam Linens IPO opens on November 8, 2024, and closes on November 12, 2024.
| IPO Open Date | Fri, Nov 8, 2024 |
| IPO Close Date | Tue, Nov 12, 2024 |
| Tentative Allotment | Wed, Nov 13, 2024 |
| Initiation of Refunds | Thu, Nov 14, 2024 |
| Credit of Shares to Demat | Thu, Nov 14, 2024 |
| Tentative Listing Date | Mon, Nov 18, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Nov 12, 2024 |
Investors can bid for a minimum of 6,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6,000 | ₹1,44,000 |
| Retail (Max) | 1 | 6,000 | ₹1,44,000 |
| HNI (Min) | 2 | 12,000 | ₹2,88,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2010, Neelam Linens and Garments (India) Limited is a manufacturer and exporter of high-end soft home fashion around the world. The company offers a wide range of products, including bedsheets, pillow covers, duvet covers, towels, rugs, shirts, and other garments, mainly catering to discount retail outlets.
Neelam Linens and Garments India Limited is engaged in supplying high-thread-count bedding and towel products to discount retail stores and distributors in the USA and Australia.
The Company also engages in trading licenses in the license market. In this process, the Company buys licenses from exporters and then sells them to importers, earning a margin on the price difference.
The company's international clients include Tuesday Morning, TJX, Pem America, Occean State Job Lot, LinCraft Australia, Big Lots, 99 Cents, and U. S. Polo Assign. The company's domestic client includes Vijay Sales, Amazon, Meesho, and Amersons store.
The company operates two manufacturing units located in Mumbai, Maharashtra. As of June 30, 2024, the company had an employee base of 56 employees, out of that fixed employees are 8 and 48 are called on a contract basis.
Competitve Strengths:
Neelam Linens and Garments (India) Ltd's revenue decreased by -0.63% and profit after tax (PAT) rose by 3.43% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 12,050.23 | 12,116.76 | 9,967.97 | 7,860.13 | 6,467.92 |
| Total Income | 2,195.39 | 10,474.42 | 10,541.13 | 10,379.69 | 8,017.82 |
| Profit After Tax | 80.46 | 246.05 | 237.88 | 298.58 | 41.53 |
| Net Worth | 2,428.80 | 2,348.34 | 2,102.30 | 1,468.42 | 1,169.84 |
| Reserves and Surplus | 948.80 | 868.34 | 1,362.30 | 1,448.42 | 1,149.84 |
| Total Borrowing | 7,566.04 | 6,964.94 | 6,534.02 | 5,110.22 | 5,259.22 |
| Amount in ₹ Lakhs | |||||
The market capitalization of Neelam Linens IPO is ₹48.52 Cr.
KPI as of Fri, Jun 30, 2023.
| KPI | Values |
|---|---|
| ROE | 2.99% |
| ROCE | 3.84% |
| Debt/Equity | 3.12 |
| RoNW | 3.31% |
| PAT Margin | 3.69% |
| Price to Book Value | 1.46 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 1.66 | 1.59 |
| P/E (x) | 14.44 | 15.08 |
The company intends to utilize the proceeds of the issue to meet the following objects:
[Dilip Davda] The company is engaged in a highly competitive and fragmented segment of processing and trading in home furnishings and related services. It is also dealing in sale of import licenses. The company posted static but inconsistent financial performances so far. Its debt equity ratio of 3.12 as of June 30, 2024 raises major concern. Based on FY25 super annualized earnings, the issue appears fully priced. There is no harm in skipping this “High Risk/Low Return” offer. Read detail review...
| Listing Date | November 18, 2024 |
| BSE Script Code | |
| NSE Symbol | NEELAM |
| ISIN | INE0N1401016 |
| Final Issue Price | ₹24 per share |
| NSE Listing Group | ST (Trade to Trade) |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹24.00 |
| Open | ₹40.05 |
| Low | ₹38.05 |
| High | ₹40.05 |
| Last Trade | ₹38.05 |
Neelam Linens & Garments (India) Ltd.
446-447, 4th Floor,
Shah & Nahar Industrial Estate Sitaram Jadav Marg
Lower Parel, Delisle Road
Mumbai, Maharashtra, 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
Neelam Linens IPO is a SME IPO of 54,18,000 equity shares of the face value of ₹10 aggregating up to ₹13.00 Crores. The issue is priced at ₹24 per share. The minimum order quantity is 6000.
The IPO opens on November 8, 2024, and closes on November 12, 2024.
Purva Sharegistry (India) Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Neelam Linens IPO using UPI as a payment gateway. Zerodha customers can apply in Neelam Linens IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Neelam Linens IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Neelam Linens IPO opens on November 8, 2024 and closes on November 12, 2024.
Neelam Linens IPO lot size is 6000, and the minimum amount required for application is ₹1,44,000.
You can apply in Neelam Linens IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Neelam Linens IPO will be done on Wednesday, November 13, 2024, and the allotted shares will be credited to your demat account by Thursday, November 14, 2024. Check the Neelam Linens IPO allotment status.
The Neelam Linens IPO listing date is on Monday, November 18, 2024.
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