Subscriptions for Neelam Linens and Garments IPO, a ₹13.00 Cr SME IPO, will be accepted from November 8, 2024, until November 12, 2024. The additional offering of ₹13.00 Cr is part of the IPO. The price range for each share is set at 20.00–24.00, with a face value of Rs 10. Applications for the Neelam Linens and Garments SME IPO are accepted for a minimum lot of 6000 shares, or Rs 144000.
Neelam Linens and Garments IPO Details
| IPO Open Date | November 8, 2024 |
| IPO Close Date | November 12, 2024 |
| Listing Date | Monday, November 18, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹20 to ₹24 per share |
| Lot Size | 6000 Shares |
| Total Issue Size | 5,418,000 shares
(aggregating up to ₹13.00 Cr) |
| Fresh Issue | 5,418,000 shares
(aggregating up to ₹13.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
Neelam Linens and Garments IPO Review
The company’s operations include the selling of import licenses, processing and trading of home furnishings, and related services. During the reported periods, the company’s financial performance was uneven but stable. The issue looks to be fully priced based on FY25 annualized super profits. With a debt-to-equity ratio of 3.12 as of June 30, 2024, higher debt is a serious problem. There is no danger in avoiding this “High Risk/Low Return” wager because the company competes in a highly competitive and fragmented market.
About the Company – Neelam Linens and Garments
The soft home furnishings company Neelam Linens and Garments (India) Limited is situated in Maharashtra and specializes in the processing and trading of fashion clothing and home textiles. After sourcing excess fabrics, they upgrade them to add value and distribute them to bargain stores around the world. The business sells import licenses to importers, together with government-issued ROSCTL and RODTEP incentives, to make money. Additionally, they offer cheap controlled import rights through the trading of market-available licenses.
India’s Neelam Linens & Clothes By trading import permits, buying from exporters, and reselling to importers at a profit, the company increases the competitiveness of the textile industry. Brokers act as intermediaries between buyers and sellers, facilitating this process.
