The Neelam Linens and Garments IPO has garnered substantial interest in the market with strong subscription rates and anticipation surrounding its upcoming listing on the NSE SME platform. Valued at ₹13 crore, this IPO opened for subscription on November 8, 2024, and is set to close on November 12, 2024.
In this article, we provide an in-depth analysis of the IPO’s performance, grey market trends, and a step-by-step guide on how to check your allotment status.
Neelam Linens and Garments IPO Subscription Status
The IPO has shown impressive momentum, being fully subscribed on the first day itself. Here’s the breakdown of the subscription status by investor category:
| Investor Category | Subscription Rate |
|---|---|
| Retail Individual Investors (RIIs) | 5.04 times |
| Non-Institutional Investors (NIIs) | 0.94 times |
| Qualified Institutional Buyers (QIBs) | No subscriptions |
| Total Subscription | 2.72 times |
The strong response from retail investors highlights the confidence in the company’s growth potential, while the NII segment saw a moderate subscription level. Interestingly, the QIB segment had no subscriptions on the first day, which might change as institutional investors evaluate the offering closer to the closing date.
Key Details of Neelam Linens and Garments IPO
Let’s dive into the main aspects of the IPO, including its price band, size, and other relevant information:
| IPO Detail | Information |
|---|---|
| IPO Price Band | ₹20 to ₹24 per share |
| Issue Size | ₹13 crore |
| Lot Size | 6,000 shares per lot |
| Total Shares Offered | 54.18 lakh shares |
| IPO Open Date | November 8, 2024 |
| IPO Close Date | November 12, 2024 |
| Allotment Date | November 13, 2024 |
| Refund Initiation | November 14, 2024 |
| Listing Date | November 18, 2024 |
| Registrar | Purva Sharegistry India Pvt Ltd |
The price band of ₹20 to ₹24 per share indicates the company’s valuation range, and investors have shown a positive response so far. With an attractive pricing strategy, the IPO aims to raise capital primarily for capital expenditure, debt repayment, and general corporate purposes.
Business Overview of Neelam Linens and Garments
Neelam Linens and Garments is a prominent player in the textile industry, specializing in high-quality home fashion products. The company’s product portfolio includes:
- Bedsheets and Pillow Covers
- Duvet Covers and Towels
- Rugs and Carpets
- Shirts and Apparel
With a focus on exports, the company caters to international markets, offering premium soft furnishings known for their durability and design. Over the past few financial years, the company has demonstrated steady growth in revenue and profitability.
Financial Highlights
| Financial Year | Revenue (₹ crore) | Net Profit (₹ crore) |
|---|---|---|
| FY22 | 50.2 | 3.0 |
| FY23 | 48.7 | 2.4 |
| FY24 (Till June 30) | 12.5 | 0.8 |
Despite slight fluctuations, the company has maintained a healthy profit margin, showcasing strong operational efficiency. The funds raised from the IPO are expected to further strengthen its market position and support future expansion.
Neelam Linens and Garments IPO GMP Today
The Grey Market Premium (GMP) for Neelam Linens and Garments IPO stands at ₹0 today, indicating a flat listing expectation. This suggests that the shares may debut at around the upper price band of ₹24 per share. The GMP trend reflects the market’s cautious sentiment, with investors awaiting more data on the company’s performance post-listing.
The GMP acts as a sentiment indicator for the IPO, and a neutral premium often implies a conservative outlook. Investors should consider both GMP and fundamental analysis before making decisions.
How to Check Neelam Linens and Garments IPO Allotment Status
To verify if you have been allotted shares in the Neelam Linens and Garments IPO, you can follow these methods:
Method 1: Check on Purva Sharegistry India Website
- Visit the Registrar’s Website: Go to the [Purva Sharegistry India allotment page](click here).
- Select the IPO Name: Choose ‘Neelam Linens and Garments IPO’ from the dropdown.
- Enter Application Details: Provide your application number, PAN, or demat account details.
- Complete Verification: Enter the captcha and click ‘Submit’ to view your allotment status.
Method 2: Check on NSE Website
- Access NSE IPO Page: Navigate to the [NSE allotment status page](click here).
- Login or Register: Sign in with your PAN or create a new account if needed.
- Input Required Details: Enter your username, password, and captcha code.
- Find Allotment Status: Click on the allotment status link to check the result.
Method 3: Check on BSE Website
- Go to BSE Allotment Page: Access the [BSE IPO status page](click here).
- Choose IPO Name: Select ‘Neelam Linens and Garments IPO’.
- Enter PAN/Application Number: Fill in your details and verify with captcha.
- Submit: Click ‘Submit’ to view the allotment status.
Conclusion
The Neelam Linens and Garments IPO has shown strong initial interest, especially among retail investors. With the allotment date approaching, investors are advised to check their status using the methods outlined above.
The expected listing on November 18 could provide an opportunity for gains if market conditions remain favorable. Keep an eye on the GMP trends and company announcements to make informed decisions.
For further updates on Neelam Linens and Garments IPO, click here.
Disclaimer: This article is for informational purposes only. Please conduct your own research or consult a financial advisor before making any investment decisions.
