Neelam Linens and Garments IPO - Day 3 Subscription at 12.00 Times

Neelam Linens and Garments' initial public offering (IPO) has received strong investor interest over the three-day period. The IPO witnessed robust growth in demand, with subscription rates growing from 2.72 times on day one, to 8.90 times on day two, and reaching 12.00 times by 11:05 AM on day three.

Neelam Linens and Garments IPO, which opened on 8th November 2024, has seen enthusiastic participation across categories. The Retail Investors segment showed overwhelming interest reaching 19.55 times subscription, while Non-Institutional Investors demonstrated strong participation at 9.11 times. The QIB portion secured full subscription at 1.01 times.

This strong response comes amid ongoing sentiment in the Indian stock market, particularly towards companies in the textile and home furnishing sector.

Neelam Linens and Garments IPO Subscription Status:

*As of 11:05 AM

Here are the subscription details for Neelam Linens and Garments IPO as of Day 3 (12th November 2024, 11:05 AM):

Note:

"Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
The portion of anchor investors and market makers is not included in the total shares offered.

Key Highlights:

• Overall subscription reached impressive 12.00 times, showing strong investor confidence
• Retail investors led with overwhelming 19.55 times subscription
• Non-Institutional Investors showed robust interest with 9.11 times subscription
• QIB portion maintained at 1.01 times subscription
• Total applications reached 6,135, indicating strong retail participation
• The subscription trend indicates exceptional investor response across categories

Neelam Linens and Garments IPO - Day 2 Subscription at 8.90 Times

Key Highlights:

• Overall subscription reached 8.90 times, showing building momentum
• Retail investors showed strong interest with 15.28 times subscription
• Non-Institutional Investors demonstrated good participation at 4.57 times
• QIB portion achieved full subscription at 1.01 times
• The subscription trend indicated growing investor confidence across categories

Neelam Linens and Garments IPO - Day 1 Subscription at 2.72 Times

Key Highlights:

• Overall subscription reached 2.72 times on opening day, showing strong initial response
• Retail investors led with robust 5.04 times subscription
• Non-Institutional Investors showed good interest with 0.94 times subscription
• QIB portion yet to begin participation
• The subscription trend indicated strong retail confidence on day one

About Neelam Linens and Garments Limited

Incorporated in 2010, Neelam Linens and Garments (India) Limited is a manufacturer and exporter of high-end soft home fashion products. The company specializes in manufacturing and supplying high-thread-count bedding and towel products to discount retail stores and distributors in the USA and Australia.

The products/services of the company include:

• Bedsheets, pillow covers, and duvet covers
• Towels and rugs
• Shirts and other garments
• Trading of import/export licenses

The company has established a strong presence with international clients including Tuesday Morning, TJX, Pem America, and LinCraft Australia. As of 30th June 2024, the company operates two manufacturing units in Mumbai with 56 employees (8 permanent, 48 contractual).

Highlights of the Neelam Linens and Garments IPO

• IPO type: Book Built Issue
• IPO size: ₹13.00 crores
• Fresh Issue: 54.18 lakh shares
• Face value: ₹10 per share
• Price band: ₹20 to ₹24 per share
• Lot size: 6,000 shares
• Minimum investment for retail investors: ₹144,000
• Minimum investment for HNI: ₹288,000 (2 lots)
• Listing at: NSE SME
• IPO opens: 8th November 2024
• IPO closes: 12th November 2024
• Allotment date: 13th November 2024
• Listing date: 18th November 2024
• Lead Manager: Expert Global Consultants Private Limited
• Registrar: Purva Sharegistry India Pvt Ltd