Neelam Linens and Garments IPO
IPO Listing Details
- Listing Date
18 Nov 2024
- Listing Price
₹ 40.05
- Listing Change
66.88%
- Last Traded Price
₹ 54.45
IPO Details
- Open Date
08 Nov 2024
- Close Date
12 Nov 2024
- IPO Price Range
₹ 20 - ₹ 24
- IPO Size
₹ 13 Cr
- Listing Exchange
NSE SME
- Listing Date
18 Nov 2024
IPO Timeline
Neelam Linens and Garments IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 8-Nov-2024 | 0.00 | 0.94 | 4.94 | 2.67 |
| 11-Nov-2024 | 1.01 | 4.57 | 15.21 | 8.86 |
| 12-Nov-2024 | 15.40 | 273.45 | 57.40 | 91.76 |
Last Updated: 12 November 2024 6:47 PM by 5Paisa
Neelam Linens and Garments (India) IPO is set to open on 08 November 2024 and will close on 12 November 2024. Neelam Linens and Garments (India) specialises in soft home furnishings.
The IPO is a fresh issue of 0.54 Cr shares aggregating to ₹13 Cr. The price range is set between ₹20 to ₹24 per share and the lot size is 6,000 shares.
The allotment is scheduled to be finalised on 13 November 2024. It will go public on NSE SME with a tentative listing date of 18 November 2024.
Expert Global Consultants Pvt Ltd is the book running lead manager while Purva Sharegistry India Pvt Ltd is the registrar.
Neelam Linens IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹13 Cr |
| Offer For Sale | - |
| Fresh Issue | ₹13 Cr |
Neelam Linens IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6,000 | 1,44,000 |
| Retail (Max) | 1 | 6,000 | 1,44,000 |
| HNI (Min) | 2 | 12,000 | 2,88,000 |
Neelam Linens IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| QIB | 15.40 | 10,32,000 | 1,58,94,000 | 38.15 |
| NII (HNI) | 273.45 | 7,74,000 | 21,16,50,000 | 507.96 |
| Retail | 57.40 | 18,00,000 | 10,33,26,000 | 247.98 |
| Total | 91.76 | 36,06,000 | 33,08,70,000 | 794.09 |
Neelam Linens IPO Anchor Allocation
| Anchor Bid Date | 7 November, 2024 |
| Shares Offered | 1,536,000 |
| Anchor portion Size (In ₹ Cr.) | 3.69 |
| Anchor lock-in period end date for 50% shares (30 Days) | 13 December, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | 11 February, 2025 |
1. Funding capital expenditure requirement towards the purchase of Embroidery Machines for expansion.
2. Prepayment or repayment of all or a portion of certain outstanding borrowings.
3. General corporate purposes.
Incorporated in September 2010, Neelam Linens and Garments (India) Ltd specialises in soft home furnishings. The company processes, finishes, and supplies a range of products, including bedsheets, pillow covers, duvet covers, towels, rugs, doors, shirts, and other garments. Primarily serving discounted retail outlets, Neelam Linens has become known for its diverse offerings in the home furnishings market.
Neelam Linens operates under two main business divisions: the processing and trading of products and the sale of licences. The company owns two manufacturing units, both located in Bhiwandi, Thane, Maharashtra, providing a solid foundation for its production capabilities.
With a client base that spans both domestic and international markets, Neelam Linens supplies major retailers within India, including Vijay Sales, Amazon, Meesho, and Amersons stores. The company’s international clients include well-known retailers such as Tuesday Morning, TJX, Pem America, Ocean State Job Lot, LinCraft Australia, Big Lots, 99 Cents, and U.S. Polo Assn. Neelam Linens currently produces 4,000 sets per day, with a total production capacity of 6,000 sets per day.
The company's competitive strengths include direct sales to customers through its own retail stores and an ongoing focus on improving financial performance through operational and functional efficiencies. Neelam Linens has also expanded its product portfolio to better meet customer needs, enhancing the overall functionality and efficiency of its operations.
As of May 15, 2024, Neelam Linens employs a total of 58 individuals, with eight on a payroll basis and the remaining 50 working as daily wage employees as needed. This flexible workforce model allows the company to efficiently meet production demands while managing operational costs.
Peers
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue | 104.74 | 105.41 | 103.80 |
| EBITDA | 7.81 | 6.53 | 5.94 |
| PAT | 2.46 | 2.38 | 2.99 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 121.68 | 99.68 | 78.60 |
| Share Capital | 14.80 | 7.40 | 0.20 |
| Total Borrowings | 69.65 | 65.34 | 51.10 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 0.42 | -11.12 | 5.82 |
| Net Cash Generated From / (used in) investing activities | 1.17 | -2.90 | -0.79 |
| Net Cash Generated From / (used in) financing activities | -1.13 | 13.74 | -4.53 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 0.46 | -0.29 | 0.51 |
Strengths
1. Direct customer sales through retail stores enhance profit margins and foster brand loyalty.
2. Diversified product offerings increase market reach and cater to diverse customer needs.
3. Strong network with domestic and international clients, reducing dependency on specific markets.
4. High production capacity ensures consistent supply to meet customer demands.
5. Operational efficiencies drive improved financial performance and resource management.
Risks
1. Dependency on daily wage labour could lead to workforce inconsistency and production disruptions.
2. Serving a price-sensitive market limits flexibility for price adjustments.
3. Limited scalability in production may require significant investment for capacity growth.
4. Intense competition in the retail market poses challenges for market share retention.
5. Economic fluctuations and regulatory changes in export markets could impact sales and profitability.
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FAQs
Neelam Linens and Garments (India) IPO opens from 08 November to 12 November 2024.
The size of Neelam Linens and Garments (India) IPO is ₹13 Cr.
The price of Neelam Linens and Garments (India) IPO is fixed at ₹20 to ₹24 per share.
To apply for Neelam Linens and Garments (India) IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Neelam Linens and Garments (India) IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the minimum lot size and investment required for the Neelam Linens and Garments (India) IPO?
The minimum lot size of Neelam Linens and Garments (India) IPO is 6,000 shares and the investment required is ₹1,20,000.
The share allotment date of Neelam Linens and Garments (India) IPO is 13 November 2024.
The Neelam Linens and Garments (India) IPO will be listed on 18 November 2024.
Expert Global Consultants Pvt Ltd is the book running lead manager for Neelam Linens and Garments (India) IPO.
Neelam Linens and Garments (India) plans to utilize the raised capital from the IPO for:
1. Funding capital expenditure requirement towards the purchase of Embroidery Machines for expansion.
2. Prepayment or repayment of all or a portion of certain outstanding borrowings.
3. General corporate purposes.
Contact Information
Neelam Linens and Garments
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 Register
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 Lead Manager
Expert Global Consultants Private Limited
