Every day some IPO is listed on the stock market. This year more companies have gone public than last year. Another company will go public on November 8, whose price range is only Rs 24. This company is an SME, which is about to go public. This IPO is by Neelam Linen and Garments (India) Limited. The company’s issue will close on November 12.
Soft Home Furnishing Company has set the price range for its IPO between Rs 20 and Rs 24. This company is preparing to raise ₹13 crore through an IPO, which will issue a fresh issue of 54.18 lakh shares through an IPO. There is no offer for sale (OFS) component, which means that none of the promoters are selling their shares.
There will be 6000 shares in 1 lot
Retail investors will have to buy a lot of 6,000 shares to invest money in this IPO. This means that based on the price band of Rs 24, you will have to invest at least Rs 144,000 to buy one lot. The minimum lot size is two for high net worth individuals, who will have to invest Rs 288,000. The base portion of the IPO is reserved for qualified institutional buyers, 15 percent for non-institutional investors and 35 percent for retail investors. The allotment of shares in the company will take place on November 13. The IPO of Neelam Linen and Garments will be listed on the NSE SME platform on November 18.
What does the company do?
Talking about the company, it is a small company in the textile sector. Its headquarters are in Maharashtra. Neelam Linen & Garments IPO is a home furnishings company serving global customers in countries such as the United States of America (USA) and Australia. The company is engaged in the manufacturing of sheets, duvet covers, pillowcases, towels, rugs, mats, shirts and clothing for discount retail stores.
The company’s business can be divided into two parts. The company has two manufacturing units located in Bhiwandi, Thane, Maharashtra. The company sells its products to national and international customers. Its domestic clients include Vijay Sales, Amazon, Meesho and Emerson Stores. Its international clients include Tuesday Morning, TJX, PayM America, Ocean State Job Lots, Lincraft Australia, Big Lots, 99 Cents and USA. Stores such as Polo Association are included. The company currently manufactures 4,000 sets per day and has the capacity to manufacture 6,000 sets per day.
(Note: Before investing in any IPO, definitely seek the help of a financial advisor.)
