Neelam Linens and Garments IPO Subscribed over 2.68x on its first day of subscription

Neelam Linens and Garments IPO Subscribed over 2.68x on its first day of subscription wherein QIB subscribed 0.00x, NII subscribed 0.94X, and RII subscribed 4.97x.

Neelam Linens and Garments IPO subscription started on Friday, November 8th, and will close on November 12th as per the schedule. The price band is set at ₹20 to ₹24 per share with a face value of ₹10.

Neelam Linens and Garments IPO Subscription Status

Neelam Linens and Garments IPO Subscribed over 2.68x on its first day till 5.00 PM on 8th November.

Neelam Linens and Garments IPO subscription QIB investors portion is 0.00 times, while NII subscribed 0.94 times and RII investors subscribed 4.97 times.
The company has received bids for 96,66,000 shares against 36,06,000 shares on offer on the first day of subscription.
Neelam Linens and Garments IPO Subscribed over 2.68x on its first day.

About Neelam Linens and Garments

Established on September 22, 2010, Neelam Linens and Garments Ltd is a manufacturer and exporter of High-end home soft furnishing company based out of Maharashtra, India. Neelam Linens and Garments India Limited is proud to be the first Indian company to introduce high-thread-count bedding. They serve customers all over India and globally including Australia, the USA, and the Far East. Bedsheets, pillowcases, duvet covers, towels, rugs, doilies, shirts, and garments are their specialty, and they mostly supply these items to bargain stores for processing and finishing. Amazon, Meesho, Amerson’s shop, and Vijay Sales are some of their domestic customers. The sale of import licenses is another source of income for their business. Importing items that are not freely importable requires a government authorization known as an import license. Furthermore, total revenue from item sales for the period ending December 31, 2023, and the fiscal years ending March 31, 2022, and 2021 was ₹5,922.12 lakhs, ₹10,356.30 lakhs, ₹10,152.67 lakhs, and ₹7,819.71 lakhs, respectively.

Neelam Linens and Garments Company Financial Report

The company reported revenue of ₹104.74 crores in 2024 against ₹105.41 crore in 2023. The company reported profit of ₹2.46 crores in 2024 against profit of ₹2.38 crores in 2023.

Neelam Linens and Garments IPO GMP:

Neelam Linens and Garments IPO GMP was ₹0 as of Friday, November 8th. That indicates the IPO is trading at ₹24 with ₹0 premium in the grey market against the issue price of ₹24.

Jagat Joshi

Founder of IPOWatch, brings nearly 15 years of experience in IPO analysis and market research. He provides complete coverage of upcoming IPOs, subscription trends, grey market premiums (GMP), and post-listing performance, along with easy-to-understand reviews, insights, and analysis. In his working journey, he has worked with various platforms and received expertise in stock market analysis and primary markets.

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Disclaimer: This content is provided strictly for educational and informational purposes. The securities or investments mentioned are not to be considered as investment advice or recommendations. The Investors are advised to do their own research or connect with a financial advisor before making any investment decisions.