November 18, 2024
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Neelam Linens listing Review
On 18th November 2024, the IPO is listed at Rs. 40.05 per shares, premium of 66.87% over the issue price. The listing has been in line with the expectations of the grey market.
Neelam Linens IPO allotment Link
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Subscription status of Neelam Linens IPO
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Neelam Linens and Garments IPO (Closed) Price Rs. 24 Lot 6000 shares, Rs. 13.00 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 15.40 | 273.47 | 57.82 | 91.97 | 18,698 (62.33x) |
| Amount wise bids recd. Rs. ? Crore | ||||
| Note: | ||||
What is the business of Neelam Linens?
Founded in September 2010, Neelam Linens and Garments (India) Ltd specializes in soft home furnishings. The company processes, finishes, and supplies a wide range of products, including bedsheets, pillow covers, duvet covers, towels, rugs, doors, shirts, and garments, primarily catering to discounted retail outlets.
Business Segments
Neelam Linens operates in two key areas:
- Processing and Trading: Manufacturing and distributing a variety of textile products.
- Licensing Sales: Offering licenses for product distribution.
The company has two manufacturing facilities located in Bhiwandi, Thane, Maharashtra.
Clientele
Neelam Linens serves both domestic and international markets. Domestic clients include major retailers like Vijay Sales, Amazon, Meesho, and Amersons stores. International customers encompass a range of stores, including Tuesday Morning, TJX, Pem America, Ocean State Job Lot, LinCraft Australia, Big Lots, 99 Cents, and U.S. Polo Assn.
Manufacturing Capacity
Currently, the company produces 4,000 sets per day, with a maximum capacity of 6,000 sets per day.
Competitive Strengths
- Direct sales through owned retail stores.
- Improved financial performance by focusing on operational and functional efficiencies.
- A diversified product portfolio tailored to customer needs.
- Commitment to enhancing and maintaining functional efficiencies.
As of May 15, 2024, Neelam Linens employs 58 individuals, comprising eight full-time staff and 50 daily wage workers.
Get more information about the company @ http://neelamgarments.com/
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Neelam Linens IPO Details |
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| IPO opens on | 8 November 2024 |
| IPO closes on | 12 November 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 5418,000 Shares / Rs 13 Crore |
| * Fresh Issue | 5418,000 Shares / Rs 13 Crore |
| * Offer for Sale – | – shares / Rs. – crore |
| Market Maker Portion | 320800 Shares |
| Net offer to Public | Shares/ Rs. Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 20-24 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 6000 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (50%) | 2571000 | 6.17 |
| NII (15%) | 771300 | 1.85 |
| RII (35%) | 1799700 | 4.32 |
| Total Shares | 5142000 | 12.34 |
| Retail portion will be oversubscribed by |
300 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 6000 Shares | Rs.144000 |
| Min HNI Application | 12000 Shares | Rs.288000 |
Who are the Promoters of Neelam Linens?
The Promoters of the company are Kantilal Jethva and Bhavin Jethwa.
What are the Objects of Neelam Linens IPO?
The Offer comprises of fresh issue of shares
The Company intends to utilize the Net Proceeds for the following objects:
- Funding capital expenditure requirement of our Company towards the purchase of Embroidery Machines for expansion;
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company;
- General corporate purposes;
Tentative timetable |
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| IPO opens on | 8 November 2024 |
| IPO Closes on | 12 November 2024 |
| IPO Allotment on | 13 November 2024 |
| Refund Initiation | 14 November 2024 |
| Credit of Shares | 14 November 2024 |
| Listing on | 18 November 2024 |
| Registered Office of the Company Neelam Linens and Garments (India) Ltd 446-447, 4th Floor, Shah & Nahar Industrial Estate Sitaram Jadav Marg Lower Parel, Delisle Road, Mumbai- 400013 |
| Who is the Lead Manager of this IPO? Expert Global Consultants Pvt ltd |
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Who is the Registrar to IPO? |
Neelam Linens IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Neelam Linens IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 103.80 | 2.99 | – | |
| 2022-23 | 105.41 | 2.38 | – | |
| 2023-24 9M | 60.78 | 1.03 | 1.61 | |
| Book Value of the Share on 31.03.2024 |
Rs | |||
| BV of the Share at cap price after IPO |
Rs. | |||
| Offer Price/upper band | Rs. | 24 | ||
IPO
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| Price/EPS of 23-24 | 14.91 |
| Price/BV Ratio | |
| Price/BV after IPO | |
How Neelam Linens IPO compares with the Peers?
There is no peer group listed company.
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Crore | |||
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Neelam Linens IPO Review
The IPO size is Rs. 13 crore, offering 5,418,000 shares. This is relatively small compared to recent market trends. With 300 applications received, the retail portion is expected to be subscribed once.
Financial Snapshot:
Over the past two years, leading up to the IPO, the company has posted strong profits, and the offer price appears to be reasonable given its financial performance. However, it’s worth noting that the sector in which the company operates does not currently attract significant investor interest or “fancy.”
+ from fundamental angle: May Apply
+ from grey market angle: ?
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Neelam Linens IPO FAQs
What is Neelam Linens IPO?
This is a SME IPO of 5418000 equity shares of the face value of Rs. 10 aggregating up to Rs.13 Crores. The issue is priced at Rs.20-24 per share. The minimum order quantity is 6000 Shares.
When will Neelam Linens IPO subscription open?
Neelam Linens IPO opens on November 8, 2024, and closes on November 12, 2024.
What is the lot size of Neelam Linens IPO?
Neelam Linens IPO lot size is 6000 Shares, and the minimum amount required is Rs.144000
How to apply for Neelam Linens IPO?
You can apply in Neelam Linens 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.
When is Neelam Linens IPO allotment?
The finalization of Basis of Allotment for Neelam Linens IPO will be done on November 13, 2024, and the allotted shares will be credited to your demat account by November 14, 2024.
When is Neelam Linens IPO listing date?
Neelam Linens IPO listing date is November 18, 2024.
