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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 opens for subscription on November 8, 2024 and closes on 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.

Refer to Neelam Linens and Garments IPO DRHP 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

Neelam Linens and Garments IPO Reservation

Investor Category Shares Offered
QIB Shares OfferedNot more than 50.00% of the Net Issue
Retail Shares OfferedNot less than 35.00% of the Net Issue
NII (HNI) Shares OfferedNot less than 15.00% of the Net Issue

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

About Neelam Linens and Garments (India) Ltd

Incorporated in September 2010, Neelam Linens and Garments (India) Ltd is a soft home furnishing company. It processes, finishes, and supplies bedsheets, pillow covers, duvet covers, towels, rugs, doors, shirts, and garments. The company mainly serves discounted retail outlets.

The company's business can be divided into two parts

  1. Processing and trading of products
  2. Sale of licenses

The company has two manufacturing units situated in Bhiwandi, Thane, Maharashtra.

The company sells its products to domestic and international customers. Its domestic customers include Vijay Sales, Amazon, Meesho, and Amersons stores. Its international clients include stores like Tuesday Morning, TJX, Pem America, Ocean State Job Lot, LinCraft Australia, Big Lots, 99 Cents, and U.S. Polo Assn.

The company currently manufactures 4000 sets per day and its capacity to manufacture is 6000 sets per day.

Competitive Strength:

  1. Selling directly to customers through its own retail stores.
  2. Enhance financial performance by concentrating on operational and functional efficiencies.
  3. Enhanced product portfolio to meet customer needs.
  4. Improving & maintaining functional efficiencies

As of May 15, 2024, the company employs 58 people. Eight of them are on payroll, while 50 work for daily wages as needed.

Company Financials

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

Period Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Assets11,348.449,967.977,860.136,467.92
Revenue6,078.1810,541.1310,379.698,017.82
Profit After Tax102.99237.88298.5841.53
Net Worth2,205.282,102.31,468.421,169.84
Reserves and Surplus725.281,362.31,448.421,149.84
Total Borrowing6,739.196,534.025,110.225,259.22
Amount in ₹ Lakhs

Key Performance Indicator

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

KPI as of December 31, 2023.

Pre IPO Post IPO
EPS (Rs) 1.610.68
P/E (x) 14.9335.34
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, 2023 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2023 that is available in RHP.

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

p>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 Prospectus

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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

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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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