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Neelam Linens and Garments (India) Ltd IPO (Neelam Linens and Garments IPO) Detail

November 8, 2024 - November 12, 2024

Neelam Linens and Garments IPO is a book built issue of Rs 13.00 crores. The issue is entirely a fresh issue of 54.18 lakh shares.

Neelam Linens and Garments IPO is open for subscription on November 8, 2024 and close today November 12, 2024. The allotment for the Neelam Linens and Garments IPO is expected to be finalized on Wednesday, November 13, 2024. Neelam Linens and Garments IPO will list on NSE SME with tentative listing date fixed as Monday, November 18, 2024.

Neelam Linens and Garments IPO price band is set at ₹20 to ₹24 per share. The minimum lot size for an application is 6000 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (12,000 shares) amounting to ₹288,000.

Expert Global Consultants Private Limited is the book running lead manager of the Neelam Linens and Garments IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for Neelam Linens and Garments IPO is Globalworth Securities.

Refer to Neelam Linens and Garments IPO RHP for detailed information.

Neelam Linens and Garments IPO Details

IPO Date November 8, 2024 to November 12, 2024
Listing Date [.]
Face Value ₹10 per share
Price Band ₹20 to ₹24 per share
Lot Size 6000 Shares
Total Issue Size5,418,000 shares
(aggregating up to ₹13.00 Cr)
Fresh Issue5,418,000 shares
(aggregating up to ₹13.00 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Share holding pre issue14,800,000
Share holding post issue20,218,000
Market Maker portion276,000 shares
Globalworth Securities

Neelam Linens and Garments IPO Reservation

Neelam Linens and Garments IPO offers 54,18,000 shares. 10,32,000 (19.05%) to QIB, 7,74,000 (14.29%) to NII, 18,00,000 (33.22%) to RII and 15,36,000 (28.35%) to Anchor investors.

Investor Category Shares Offered
Anchor Investor Shares Offered15,36,000 (28.35%)
Market Maker Shares Offered2,76,000 (5.09%)
QIB Shares Offered10,32,000 (19.05%)
NII (HNI) Shares Offered7,74,000 (14.29%)
Retail Shares Offered18,00,000 (33.22%)
Total Shares Offered54,18,000 (100%)

Neelam Linens and Garments IPO Anchor Investors Details

Neelam Linens and Garments IPO raises Rs 3.69 crore from anchor investors. Neelam Linens and Garments IPO Anchor bid date is November 7, 2024. Neelam Linens and Garments IPO Anchor Investors list

Bid Date November 7, 2024
Shares Offered 1,536,000
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 and Garments IPO Timeline (Tentative Schedule)

Neelam Linens and Garments IPO opens on November 8, 2024, and closes on November 12, 2024.

IPO Open Date Friday, November 8, 2024
IPO Close Date Tuesday, November 12, 2024
Basis of Allotment Wednesday, November 13, 2024
Initiation of Refunds Thursday, November 14, 2024
Credit of Shares to Demat Thursday, November 14, 2024
Listing Date Monday, November 18, 2024
Cut-off time for UPI mandate confirmation 5 PM on November 12, 2024

Neelam Linens and Garments IPO Lot Size

Investors can bid for a minimum of 6000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 6000 ₹144,000
Retail (Max) 1 6000 ₹144,000
HNI (Min) 2 12,000 ₹288,000
Lot Size Calculator

Neelam Linens and Garments IPO Promoter Holding

The Promoters of the company are Kantilal Jethva and Bhavin Jethwa.

Share Holding Pre Issue 74.18%
Share Holding Post Issue 54.29%

About Neelam Linens and Garments (India) Ltd

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:

  • Purchase of higher quality thread count fabric at a lower price.
  • Experienced promoters and dedicated employee base.

Neelam Linens and Garments (India) Ltd Financial Information (Restated Consolidated)

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 Ended30 Jun 202431 Mar 202431 Mar 202331 Mar 202231 Mar 2021
Assets12,050.2312,116.769,967.977,860.136,467.92
Revenue2,195.3910,474.4210,541.1310,379.698,017.82
Profit After Tax80.46246.05237.88298.5841.53
Net Worth2,428.802,348.342,102.301,468.421,169.84
Reserves and Surplus948.80868.341,362.301,448.421,149.84
Total Borrowing7,566.046,964.946,534.025,110.225,259.22
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Neelam Linens and Garments IPO is Rs 48.52 Cr.

KPI as of June 30, 2023.

KPI Values
ROE2.99%
ROCE3.84%
Debt/Equity3.12
RoNW3.31%
P/BV1.46
PAT Margin (%)3.69
Pre IPO Post IPO
EPS (Rs) 1.661.59
P/E (x) 14.4415.08
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.

Objects of the Issue (Neelam Linens and Garments IPO Objectives)

The company intends to utilize the proceeds of the issue to meet the following objects:

  1. Funding capital expenditure requirement of our Company towards the purchase of Embroidery Machines for expansion;
  2. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company;
  3. General corporate purposes;

Neelam Linens and Garments IPO Review (Avoid)

[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...


Neelam Linens and Garments IPO Rating

4
1.3
Rating:Rated 1.3 stars
Vote Here ...

Neelam Linens and Garments (India) Ltd Contact Details

Neelam Linens and Garments (India) Ltd
446-447, 4th Floor,
Shah & Nahar Industrial Estate Sitaram Jadav Marg
Lower Parel, Delisle Road, Mumbai- 400013
Phone: +91 2224942454
Email: compliance@neelamgarments.com
Website: http://neelamgarments.com/

Neelam Linens and Garments IPO Registrar

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 and Garments IPO - Buy or Not

Neelam Linens and Garments IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 2

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Neelam Linens and Garments IPO FAQs

Neelam Linens and Garments IPO is a SME IPO of 5,418,000 equity shares of the face value of ₹10 aggregating up to ₹13.00 Crores. The issue is priced at ₹20 to ₹24 per share. The minimum order quantity is 6000 Shares.

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 and Garments IPO using UPI as a payment gateway. Zerodha customers can apply in Neelam Linens and Garments IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Neelam Linens and Garments IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Neelam Linens and Garments IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Neelam Linens and Garments IPO opens on November 8, 2024 and closes on November 12, 2024.

Neelam Linens and Garments IPO lot size is 6000 Shares, and the minimum amount required is ₹144,000.

You can apply in Neelam Linens and Garments IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Neelam Linens and Garments 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 and Garments IPO allotment status.

The Neelam Linens and Garments IPO listing date is not yet announced. The tentative date of Neelam Linens and Garments IPO listing is Monday, November 18, 2024.
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