Neelam Linen & Garments IPO closed on November 12. The issue was open for investment on November 8.
In three days, the issue received more than 91.97 times subscriptions. In this, the QIB segment was subscribed 15.40 times, NII 273.47 times, and RII 57.82 times.
The price band of Neelam Linen & Garments IPO was fixed at Rs 24.
What Is The Detail
This SME IPO is a face issue of 54.18 lakh shares altogether. The current gray market premium (GMP) of the issue indicates a flat listing. Today its GMP is at zero.
The company will use the amount of Rs 13 crore raised from the IPO for capital expenditure requirements, payment of borrowings, and general corporate purposes.
Business Of The Company
Established on the 22nd of September 2010 Neelam Linens and Garments Limited producer and exporter of luxury home furnishings that is located within Maharashtra, India.
Neelam Linens and Garments India Limited was one of the very first Indian companies to launch high-thread-count bedding.
The company serves customers in India and around the world across the globe, including Australia the US, and the Far East.
Bedsheets, pillows, duvet covers, towels, rugs, doilies, shirts, and dresses are its specialties and it supplies these items for processing and finishing, mostly at affordable prices.
Amazon, Meesho, Emerson Shops, and Vijay Sales are among their clients in India. The sale of import licenses is a second source of income in their businesses.
The company reported a revenue of ₹104.74 crore in 2024 as against ₹105.41 crore in 2023.
The company posted an income in the amount of Rs 2.46 crore in 2024 compared to an income that was Rs 2.38 crore by 2023.
Quick Fact
| Company name | Neelam Linens & Garments |
|---|---|
| IPO Open Date | November 8 |
| IPO Close Date | November 12 |
| Subscription Total | 91.97 times |
| QIB Subscription | 15.40 times |
| NII Subscription | 273.47 times |
| RII Subscription | 57.82 times |
| Price Band | ₹24 |
| Issue Size | 54.18 lakh shares |
| GMP | ₹0 (Flat listing expected) |
| Total Amount Raised | ₹13 crore |
| Fund Usage | Capital expenditure, borrowings, corporate purposes |
| Establishment Date | 22 September 2010 |
| Business Location | Maharashtra, India |
| Product Focus | High-thread-count bedding, soft furnishings |
| Specialties | Bedsheets, pillows, duvet covers, towels, rugs, doilies, shirts, dresses |
| Export Markets | Australia, US, Far East |
| Domestic Clients | Amazon, Meesho, Emerson Shops, Vijay Sales |
| Additional Income | Sale of import licenses |
| Revenue 2024 | ₹104.74 crore |
| Revenue 2023 | ₹105.41 crore |
| Profit 2024 | ₹2.46 crore |
| Profit 2023 | ₹2.38 crore |
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