Neelam Linens and Garments (India) Ltd IPO opened for subscription on 8 November 2024 and will run until 12 November 2024. Neelam Linens and Garments (India) IPO is an SME IPO that is looking to raise around ₹ 13 crores from a fresh 54.18 lakh equity share issue.
The allotment for the Neelam Linens and Garments (India) IPO is expected to be announced on Wednesday, 13 November 2024. Neelam Linens and Garments (India) will be listed on NSE SME on Monday, 18 November 2024 as decided yet.
Neelam Linens and Garments (India) IPO has set the price band between ₹ 20 and ₹ 24 per share. It has kept the minimum ipo lot size of 6000 shares for each application. The minimum investment by a retail investor has to be ₹ 144000. For HNIs, the minimum number of lots to be purchased is 2 lots which amounts to a minimum investment of ₹ 288000, that is for 12000 shares.
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Neelam Linens and Garments (India) NSE SME IPO Details
| Detail | Information |
IPO Opening Date | November 8, 2024 |
IPO Closing Date | November 12, 2024 |
Tentative IPO Listing Date | November 18, 2024 |
Face Value | ₹10 per share |
Price Range | ₹ 20 to ₹ 24 per share |
Lot Size | 6000 shares |
Total Issue Size | 5418000 shares (₹13 Cr) |
Fresh Issue | 5418000 shares (₹13 Cr) |
IPO Segment | Book Built Issue |
| Listing At | NSE SME |
Shareholding Pre-Issue | 14800000 shares |
Shareholding Post-issue | 20218000 shares |
Market Maker Portion | 276000 shares |
Neelam Linens and Garments (India) Limited| Company Overview
Neelam Linens and Garments (India) Limited was established in the year 2010. It engages in the production and export of high-end soft home fashion across the globe. The firm offers an array of products which includes bedsheets, pillow covers, towels, rugs, shirts, and other garments as well.
The main clientele of Neelam Linens includes discount retail outlets. However, the main products of this firm are high-thread count beddings and towels which it supplies to discount retail outlets and wholesale distributors in the US and Australia. Some of the most prominent clients of Neelam Linens are TJX, Tuesday Morning, LinCraft Australia, Ocean State Job Lot, Big Lots, and others.
Apart from producing and exporting high-quality home linens, the firm also engages in buying and selling trading licenses where it buys licenses from different exporters and sells them to the importers and earns from the price difference margin.
As of 30 June 2024, Neelam Linens and Garments had two manufacturing units in Mumbai and an employee strength of 56 employees out of which 48 were on a contractual basis.
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Neelam Linens and Garments (India) Limited IPO| Key Details
- Neelam Linens and Garments (India) IPO Opening Date: November 8, 2024,
- Neelam Linens and Garments (India) IPO Closing Date: November 12, 2024,
- Allotment Date: November 13, 2024
- Price Band: ₹20 to ₹24 per share
- Lot Size: 6000 shares
- Refunds Initiated: November 14, 2024
- Shares Credited to Demat: November 14, 2024
- Listing Date: November 18, 2024
Neelam Linens and Garments (India) Ltd: Financial Overview
The revenue of Neelam Linens and Garments (India) Ltd. declined marginally by 0.63% in FY24 on a YoY basis but the profit after tax (PAT) has increased by 3.43% during the same period. Here is the detailed financials of Neelam Linens and Garments (India) Ltd –
Financial Information | 31 Mar 2024 | 31 Mar 2023 | Change (31 Mar’23 – 31 Mar’24) | Change (%) |
| Assets | 12,116.76 | 9,967.97 | 2,148.79 | 21.56 |
| Revenue | 10,474.42 | 10,541.13 | -66.71 | -0.63 |
Profit After Tax | 246.05 | 237.88 | 8.17 | 3.43 |
Net Worth | 2,348.34 | 2,102.30 | 246.04 | 11.70 |
Reserves and Surplus | 868.34 | 1,362.30 | -493.96 | -36.26 |
Total Borrowing | 6,964.94 | 6,534.02 | 430.92 | 6.60 |
All figures in ₹ Lakhs
FAQs | Neelam Linens and Garments (India) Ltd IPO
Neelam Linens and Garments (India) Ltd produces high-quality home linens and garments and supplies to the USA and Australia’s discount retail stores and distributors. It also deals in trading licenses.
The tentative IPO listing date of Neelam Linens and Garments (India) has been fixed as Monday, November 18, 2024.
The bidding date for the Neelam Linens and Garments (India) IPO is November 8, 2024, and it will continue until November 12, 2024.
The minimum IPO lot size for Neelam Linens and Garments (India) is 6000 shares. However, HNIs need to buy at least 2 lots.
The IPO allotment is expected to be finalized on Wednesday, November 13, 2024.
The IPO face value is set at ₹10 per share.
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