Bookbuilding IPO | ₹13 Cr | Listed at NSE SME | Fri, Nov 8, 2024 - Tue, Nov 12, 2024
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 per share. The lot size for an application is 6,000. The minimum amount of investment required by an retail is ₹1,44,000 (6000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Fri, Nov 8, 2024
IPO Close
Tue, Nov 12, 2024
Issue Price
₹24 per share
Market Cap (Pre-IPO)
₹48.52 Cr
| IPO Date | 8 to 12 Nov, 2024 |
| Listed on | Mon, Nov 18, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹20 to ₹24 |
| Issue Price | ₹24 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 54,18,000 shares (agg. up to ₹13 Cr) |
| Reserved for Market Maker | 2,76,000 shares Globalworth Securities Ltd. (agg. up to ₹0.6624 Cr) |
| Fresh Issue (Ex Market Maker) | 51,42,000 shares (agg. up to ₹12 Cr) |
| Net Offered to Public | 51,42,000 shares (agg. up to ₹12 Cr) |
| Share Holding Pre Issue | 1,48,00,000 shares |
| Share Holding Post Issue | 2,02,18,000 shares |
| NSE Symbol | NEELAM |
| ISIN | INE0N1401016 |
Neelam Linens IPO comprises a total issue size of 54,18,000 shares. The net offer to the public is 51,42,000 shares, after excluding 2,76,000 shares allotted on a firm basis. Of the Net offer 25,68,000 (49.94%) are allocated to QIB, 7,74,000 (15.05%) allocated to NII 18,00,000 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 25,68,000 | 49.94% | 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 | 15.05% | 14.29% |
| Retail Shares Offered | 18,00,000 | 35.01% | 33.22% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,76,000 | 5.09% | |
| Total Shares Offered | 54,18,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 6,000 shares and in multiples thereof.
| 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 |
Neelam Linens IPO raises ₹3.69 crore from anchor investors. Neelam Linens IPO Anchor bid date is November 7, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Nov 7, 2024 |
| Shares Offered | 15,36,000 |
| Anchor Portion (₹ Cr.) | 3.69 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Dec 13, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Feb 11, 2025 |
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:
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|---|
| Assets | 120.50 | 121.17 | 99.68 | 78.60 | 64.68 |
| Total Income | 21.95 | 104.74 | 105.41 | 103.80 | 80.18 |
| Profit After Tax | 0.80 | 2.46 | 2.38 | 2.99 | 0.42 |
| NET Worth | 24.29 | 23.48 | 21.02 | 14.68 | 11.70 |
| Reserves and Surplus | 9.49 | 8.68 | 13.62 | 14.48 | 11.50 |
| Total Borrowing | 75.66 | 69.65 | 65.34 | 51.10 | 52.59 |
| Amount in ₹ Crore | |||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure requirement of the Company towards purchase of Embroidery Machines for expansion; | 5.57 |
| 2 | Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; | 4.00 |
| 3 | General corporate purposes | 2.15 |
| KPI | Jun 30, 2023 |
|---|---|
| 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 (₹) | 1.66 | 1.59 |
| P/E (x) | 14.44 | 15.08 |
| Promoter Holding | 74.18% | 54.29% |
| Market Cap | ₹48.52 Cr. |
The Neelam Linens and Garments IPO is subscribed 91.97 times on November 12, 2024 6:19:59 PM (Day 3). The public issue subscribed 57.82 times in the retail category, 15.4 times in the QIB category, and 273.47 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 15.4 | 10,32,000 | 1,58,94,000 | 8 |
| NII* | 273.47 | 7,74,000 | 21,16,62,000 | 1,344 |
| Retail | 57.82 | 18,00,000 | 10,40,76,000 | 17,346 |
| Total | 91.97 | 36,06,000 | 33,16,32,000 | 18,698 |
Total Application : 18,698
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger fees | 0.35 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.02 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.04 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.01 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.19 |
| 7 | Others, if any (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, depositories, secretarial, advisors, consultancy, peer review auditors, Processing Fees*, Underwriting fees and Miscellaneous Expenses) | 0.66 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹24.00 |
| Open | ₹40.05 |
| Low | ₹38.05 |
| High | ₹40.05 |
| Last Trade | ₹38.05 |
Purva Sharegistry (India) Pvt.Ltd.
Lead Manager Reports
Neelam Linens IPO is a SME IPO of 54,18,000 equity shares of the face value of ₹10 aggregating up to ₹13 Crores. The issue is priced at ₹24 per share. The minimum order quantity is 6000.
The IPO opens on Fri, Nov 8, 2024, and closes on Tue, Nov 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 Fri, Nov 8, 2024 and closes on Tue, Nov 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 Thu, Nov 14, 2024. Check the Neelam Linens IPO allotment status.
The Neelam Linens IPO listing date is on Mon, Nov 18, 2024.
