Fixed Price IPO | ₹4 Cr | Listed at NSE SME | Fri, Aug 5, 2022 - Thu, Aug 11, 2022
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Fri, Aug 5, 2022
IPO Close
Thu, Aug 11, 2022
Issue Price
₹28 per share
Market Cap (Pre-IPO)
₹16.45 Cr
| IPO Date | 5 to 11 Aug, 2022 |
| Listed on | Mon, Aug 22, 2022 |
| Face Value | ₹10 per share |
| Issue Price | ₹28 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 15,84,000 shares (agg. up to ₹4 Cr) |
| Reserved for Market Maker | 80,000 shares Econo Broking Pvt.Ltd. (agg. up to ₹0.2240 Cr) |
| Fresh Issue (Ex Market Maker) | 15,04,000 shares (agg. up to ₹4 Cr) |
| Net Offered to Public | 15,04,000 shares (agg. up to ₹4 Cr) |
| Share Holding Pre Issue | 42,91,730 shares |
| Share Holding Post Issue | 58,75,730 shares |
| NSE Symbol | VEEKAYEM |
| ISIN | INE0KTW01013 |
Veekayem Fashion IPO comprises a total issue size of 15,84,000 shares. The net offer to the public is 15,04,000 shares, after excluding 80,000 shares allotted on a firm basis. Of the Net offer 7,52,000 (50.00%) allocated to NII 7,52,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 7,52,000 | 50.00% | 47.47% |
| Retail Shares Offered | 7,52,000 | 50.00% | 47.47% |
| Firm Reservations | |||
| Market Maker Shares Offered | 80,000 | 5.05% | |
| Total Shares Offered | 15,84,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 4,000 shares and in multiples thereof.
| 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 |
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 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 132.67 | 123.52 | 120.90 | 117.89 |
| Total Income | 149.47 | 76.70 | 215.71 | 203.17 |
| Profit After Tax | 1.89 | 0.35 | 1.09 | 2.28 |
| NET Worth | 30.95 | 29.05 | 28.70 | 29.73 |
| Reserves and Surplus | 26.66 | 24.76 | 24.40 | 23.31 |
| 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 the working capital requirements of the company | 4.00 |
| 2 | General Corporate Purposes | 0.01 |
| KPI | |
|---|---|
| RoNW | 6.09 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.39 | |
| P/E (x) | 8.72 | |
| Promoter Holding | 54.31% | 39.67% |
| Market Cap | ₹16.45 Cr. |
The Veekayem Fashion and Apparels IPO is subscribed 301.47 times on August 11, 2022 5:00:00 PM (Day 4). The public issue subscribed 247.09 times in the retail category, [.] times in the QIB category, and 355.85 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 355.85 | 7,52,000 | 26,76,00,000 |
| Retail | 247.09 | 7,52,000 | 18,58,08,000 |
| Total | 301.47 | 15,04,000 | 45,34,08,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including Merchant Banking fees and Market Making fees, Underwriting fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 0.31 |
| 2 | Advertising and Marketing Expenses | 0.02 |
| 3 | Fees payable to the to the Regulators including stock exchange(s) | 0.05 |
| 4 | Printing & Stationery, Distribution, Postage, etc. | 0.01 |
| 5 | Brokerage and selling commission | 0.01 |
| 6 | Other Expenses (Banker’s to the Issue, Auditor’s fees etc.) | 0.04 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹28.00 |
| Open | ₹49.90 |
| Low | ₹47.45 |
| High | ₹52.35 |
| Last Trade | ₹50.00 |
Lead Manager Reports
Veekayem Fashion IPO is a SME IPO of 15,84,000 equity shares of the face value of ₹10 aggregating up to ₹4 Crores. The issue is priced at ₹28 per share. The minimum order quantity is 4000.
The IPO opens on Fri, Aug 5, 2022, and closes on Thu, Aug 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 Fri, Aug 5, 2022 and closes on Thu, Aug 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 Fri, Aug 19, 2022. Check the Veekayem Fashion IPO allotment status.
The Veekayem Fashion IPO listing date is on Mon, Aug 22, 2022.
