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Veekayem Fashion and Apparels IPO is a fixed price issue of Rs 4.44 crores. The issue is entirely a fresh issue of 15.84 lakh shares.
Veekayem Fashion and Apparels IPO bidding started from August 5, 2022 and ended on August 11, 2022. The allotment for Veekayem Fashion and Apparels IPO was finalized on Wednesday, August 17, 2022. The shares got listed on NSE SME on August 22, 2022.
Veekayem Fashion and Apparels IPO price is ₹28 per share. The minimum lot size for an application is 4000 Shares. The minimum amount of investment required by retail investors is ₹112,000. The minimum lot size investment for HNI is 2 lots (8,000 shares) amounting to ₹224,000.
GYR Capital Advisors Private Limited is the book running lead manager of the Veekayem Fashion and Apparels IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Veekayem Fashion and Apparels IPO RHP for detailed information.
| IPO Date | August 5, 2022 to August 11, 2022 |
| Listing Date | August 22, 2022 |
| Face Value | ₹10 per share |
| Price | ₹28 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 1,584,000 shares (aggregating up to ₹4.44 Cr) |
| Fresh Issue | 1,584,000 shares (aggregating up to ₹4.44 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 4,291,730 |
| Share holding post issue | 5,875,730 |
| Market Maker portion | 80,000 shares |
Veekayem Fashion and Apparels IPO offers 1,584,000 shares. 752,000 (47.47%) to NII, 752,000 (47.47%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 80,000 (5.05%) |
| Other Shares Offered | 752,000 (47.47%) |
| Retail Shares Offered | 752,000 (47.47%) |
| Total Shares Offered | 1,584,000 (100%) |
Veekayem Fashion and Apparels IPO opens on August 5, 2022, and closes on August 11, 2022.
| IPO Open Date | Friday, August 5, 2022 |
| IPO Close Date | Thursday, August 11, 2022 |
| Basis of Allotment | Wednesday, August 17, 2022 |
| Initiation of Refunds | Thursday, August 18, 2022 |
| Credit of Shares to Demat | Friday, August 19, 2022 |
| Listing Date | Monday, August 22, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 11, 2022 |
Investors can bid for a minimum of 4000 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 | 4000 | ₹112,000 |
| Retail (Max) | 1 | 4000 | ₹112,000 |
| HNI (Min) | 2 | 8,000 | ₹224,000 |
| Lot Size Calculator | |||
Krishankant Gupta, Vijaykumar Gupta and Madanlal Gupta are the company promoters.
| Share Holding Pre Issue | 54.31% |
| Share Holding Post Issue | 39.67% |
Incorporated in 1985, Veekayem Fashion and Apparels Limited is engaged in the business of weaving and garment manufacturing. The company's product portfolio includes two main product categories: Textile the company manufactures Greige Fabrics including 100% Cotton - Lycra and Non-Lycra, Giza, Supima, Blended Cotton Suiting - Chief Value Cotton, Polyester Cotton, 100% Cotton Yarn Dyed, Polyester Viscose, Terry Rayon Suiting and Mock Linen and Garments the company manufacture all types of readymade garments for men and women, such as formal shirts, cotton shirts, formal trousers, cotton trousers, cotton joggers, cotton shorts, pyjamas and Bermuda.
Veekayem Fashion's manufacturing facility is situated at Umargaon in the state of Gujarat. The manufacturing facility is installed with automated machinery capable of manufacturing 5,00,000 meters of fabric per month and 1,50,000 pcs of readymade garments per month.
Competitive Strength:
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-19 | 11789.3 | 20317.36 | 228.31 | 2973.17 | 2331.38 |
| 31-Mar-20 | 12090.4 | 21571.46 | 109.1 | 2869.65 | 2440.48 |
| 31-Mar-21 | 12351.95 | 7670.06 | 35.25 | 2904.9 | 2475.73 |
| 31-Mar-22 | 13267.19 | 14947.02 | 188.54 | 3095.28 | 2666.11 |
| Amount in ₹ Lakhs | |||||
The market capitalization of Veekayem Fashion and Apparels IPO is Rs 16.45 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 8.72 |
The Company proposes to utilize the funds which are being raised through this Issue towards the following objects:
a) Funding the working capital requirements of the company.
b) General Corporate Purposes.
[Dilip Davda] The company is in the highly competitive and fragmented segment of textiles with many unorganized players. For the last three fiscals, it has shown inconsistency in its top and bottom lines. The surge in profits on a lower turnover for FY22 raises eyebrows. The sustainability of such earnings going forward is a major concern. Based on its financial data, the issue is fully priced with super earnings for FY22. There is no harm in skipping this issue. Read detail review...
The Veekayem Fashion and Apparels IPO is subscribed 301.47 times on August 11, 2022 5:00:00 PM. The public issue subscribed 247.09 times in the retail category, times in the QIB category, and 355.85 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 355.85 |
| Retail | 247.09 |
| Total | 301.47 |
| Listing Date | August 22, 2022 |
| BSE Script Code | |
| NSE Symbol | VEEKAYEM |
| ISIN | INE0KTW01013 |
| Final Issue Price | ₹28 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹28.00 |
| ₹49.90 |
| ₹47.45 |
| ₹52.35 |
| ₹50.00 |
Veekayem Fashion and Apparels Limited
113, Udyog Bhavan,
Sharma Ind. Estate, Walghat Road,
Goregaon East, Mumbai, India – 400 063
Phone: +91 22 4035 1481
Email: cs@vkmgroups.biz
Website: https://www.vkmgroups.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: veekayem.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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Veekayem Fashion and Apparels IPO is a SME IPO of 1,584,000 equity shares of the face value of ₹10 aggregating up to ₹4.44 Crores. The issue is priced at ₹28 per share. The minimum order quantity is 4000 Shares.
The IPO opens on August 5, 2022, and closes on August 11, 2022.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Veekayem Fashion and Apparels IPO using UPI as a payment gateway. Zerodha customers can apply in Veekayem Fashion and Apparels IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Veekayem Fashion and Apparels IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Veekayem Fashion and Apparels IPO opens on August 5, 2022 and closes on August 11, 2022.
Veekayem Fashion and Apparels IPO lot size is 4000 Shares, and the minimum amount required is ₹112,000.
You can apply in Veekayem Fashion and Apparels 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 Veekayem Fashion and Apparels IPO will be done on Wednesday, August 17, 2022, and the allotted shares will be credited to your demat account by Friday, August 19, 2022. Check the Veekayem Fashion and Apparels IPO allotment status.
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