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Veekayem Fashion IPO is a fixed price issue of ₹4.44 crores. The issue is entirely a fresh issue of 0.16 crore shares of ₹4.44 crore.
Veekayem Fashion IPO bidding started from Aug 5, 2022 and ended on Aug 11, 2022. The allotment for Veekayem Fashion IPO was finalized on Aug 17, 2022. The shares got listed on NSE SME on Aug 22, 2022.
Veekayem Fashion IPO price is ₹28.00 per share . The lot size for an application is 4,000. The minimum amount of investment required by an individual investor (retail) is ₹1,12,000 (4000 shares). The minimum lot size investment for HNI is 2 lots (8,000 shares), amounting to ₹2,24,000.
GYR Capital Advisors Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The market maker of the company is Econo Broking Pvt.Ltd..
Refer to Veekayem Fashion IPO RHP for detailed Information.
| IPO Date | August 5, 2022 to August 11, 2022 |
| Listing Date | August 22, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹28 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 15,84,000 shares (aggregating up to ₹4.44 Cr) |
| Reserved for Market Maker | 80,000 shares Econo Broking Pvt.Ltd. (aggregating up to ₹0.2240 Cr) |
| Net Offered to Public | 15,04,000 shares (aggregating up to ₹4.21 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 42,91,730 shares |
| Share Holding Post Issue | 58,75,730 shares |
Veekayem Fashion and Apparels IPO offers total 15,84,000 shares. Out of which 7,52,000 (47.47%) allocated to NII, 7,52,000 (47.47%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 80,000 (5.05%) |
| NII (HNI) Shares Offered | 7,52,000 (47.47%) |
| Retail Shares Offered | 7,52,000 (47.47%) |
| Total Shares Offered | 15,84,000 (100.00%) |
Veekayem Fashion IPO opens on August 5, 2022, and closes on August 11, 2022.
| IPO Open Date | Fri, Aug 5, 2022 |
| IPO Close Date | Thu, Aug 11, 2022 |
| Tentative Allotment | Wed, Aug 17, 2022 |
| Initiation of Refunds | Thu, Aug 18, 2022 |
| Credit of Shares to Demat | Fri, Aug 19, 2022 |
| Tentative Listing Date | Mon, Aug 22, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Aug 11, 2022 |
Investors can bid for a minimum of 4,000 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 | 4,000 | ₹1,12,000 |
| Retail (Max) | 1 | 4,000 | ₹1,12,000 |
| HNI (Min) | 2 | 8,000 | ₹2,24,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1985, Veekayem Fashion and Apparels Limited is engaged in the business of weaving and garment manufacturing. The company's product portfolio includes two main product categories: Textile the company manufactures Greige Fabrics including 100% Cotton - Lycra and Non-Lycra, Giza, Supima, Blended Cotton Suiting - Chief Value Cotton, Polyester Cotton, 100% Cotton Yarn Dyed, Polyester Viscose, Terry Rayon Suiting and Mock Linen and Garments the company manufacture all types of readymade garments for men and women, such as formal shirts, cotton shirts, formal trousers, cotton trousers, cotton joggers, cotton shorts, pyjamas and Bermuda.
Veekayem Fashion's manufacturing facility is situated at Umargaon in the state of Gujarat. The manufacturing facility is installed with automated machinery capable of manufacturing 5,00,000 meters of fabric per month and 1,50,000 pcs of readymade garments per month.
Competitive Strength:
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-19 | 11789.3 | 20317.36 | 228.31 | 2973.17 | 2331.38 |
| 31-Mar-20 | 12090.4 | 21571.46 | 109.1 | 2869.65 | 2440.48 |
| 31-Mar-21 | 12351.95 | 7670.06 | 35.25 | 2904.9 | 2475.73 |
| 31-Mar-22 | 13267.19 | 14947.02 | 188.54 | 3095.28 | 2666.11 |
| Amount in ₹ Lakhs | |||||
The market capitalization of Veekayem Fashion IPO is ₹16.45 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 8.72 |
The Company proposes to utilize the funds which are being raised through this Issue towards the following objects:
a) Funding the working capital requirements of the company.
b) General Corporate Purposes.
[Dilip Davda] The company is in the highly competitive and fragmented segment of textiles with many unorganized players. For the last three fiscals, it has shown inconsistency in its top and bottom lines. The surge in profits on a lower turnover for FY22 raises eyebrows. The sustainability of such earnings going forward is a major concern. Based on its financial data, the issue is fully priced with super earnings for FY22. There is no harm in skipping this issue. Read detail review...
| Listing Date | August 22, 2022 |
| BSE Script Code | |
| NSE Symbol | VEEKAYEM |
| ISIN | INE0KTW01013 |
| Final Issue Price | ₹28 per share |
| BSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹28.00 |
| Open | ₹49.90 |
| Low | ₹47.45 |
| High | ₹52.35 |
| Last Trade | ₹50.00 |
Veekayem Fashion & Apparels Ltd.
113, Udyog Bhavan,
Sharma Ind. Estate, Walghat Road,
Goregaon East
Mumbai, Maharashtra, 400063
Phone: +91 22 4035 1481
Email: cs@vkmgroups.biz
Website: https://www.vkmgroups.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: veekayem.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Veekayem Fashion IPO is a SME IPO of 15,84,000 equity shares of the face value of ₹10 aggregating up to ₹4.44 Crores. The issue is priced at ₹28 per share. The minimum order quantity is 4000.
The IPO opens on August 5, 2022, and closes on August 11, 2022.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Veekayem Fashion IPO using UPI as a payment gateway. Zerodha customers can apply in Veekayem Fashion IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Veekayem Fashion IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Veekayem Fashion IPO opens on August 5, 2022 and closes on August 11, 2022.
Veekayem Fashion IPO lot size is 4000, and the minimum amount required for application is ₹1,12,000.
You can apply in Veekayem Fashion 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 Veekayem Fashion IPO will be done on Wednesday, August 17, 2022, and the allotted shares will be credited to your demat account by Friday, August 19, 2022. Check the Veekayem Fashion IPO allotment status.
The Veekayem Fashion IPO listing date is on Monday, August 22, 2022.
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