IPO Details
Bidding Dates
08 Nov 24 - 12 Nov 24
Price Range ₹
20 - 24
Total Equity
₹ 9.32Cr
Lot Size
6000
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
08 Nov 2024
Offer end
12 Nov 2024
Allotment
13 Nov 2024
Refund initiation
14 Nov 2024
Demat transfer
14 Nov 2024
Listing
18 Nov 2024
Offer start
08 Nov 2024
Offer end
12 Nov 2024
Allotment
13 Nov 2024
Refund initiation
14 Nov 2024
Demat transfer
14 Nov 2024
Listing
18 Nov 2024
About Company
Founded in September 2010, Neelam Linens and Garments (India) Ltd specializes in soft home furnishings. The company processes, finishes, and supplies items such as bedsheets, pillow covers, duvet covers, towels, rugs, door mats, shirts, and other garments, primarily catering to discount retail outlets. The company’s operations are split into two segments: - Processing and trading of products - Sale of licenses With two manufacturing units in Bhiwandi, Thane, Maharashtra, Neelam Linens and Garments serves both domestic and international markets. Domestic clients include Vijay Sales, Amazon, Meesho, and Amersons stores, while international customers feature Tuesday Morning, TJX, Pem America, Ocean State Job Lot, LinCraft Australia, Big Lots, 99 Cents, and U.S. Polo Assn. Currently, the company produces 4,000 sets per day, with a capacity of up to 6,000 sets daily. Competitive Strengths: - Direct-to-customer sales through its own retail outlets - Focus on enhancing financial performance through operational efficiency - Expanded product range to meet diverse customer demands - Continual improvements in functional efficiency As of May 15, 2024, the company employs 58 people, including eight on payroll and 50 working on a daily wage basis as needed.
Year Founded
22-09-2010
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 74.18 | 54.29 |
| Share Capital | 10978000 | 10978000 |
Offer to Public
38,82,000.00 Cr
Project Details
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company - 40cr
- Funding capital expenditure requirement of our Company towards purchase of Embroidery Machines for - 55.741cr
Objectives
- Funding capital expenditure requirement of our Company towards purchase of Embroidery Machines for expansion.Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company.General corporate purposes.
Highlights
- Value-added production processes, allowing for high-quality, competitively priced products.
- Strong in-house manufacturing capabilities.
- Established presence in both domestic and international markets.
- Diversified market exposure, reducing dependency on any single region.
- Consistent revenue growth over recent fiscal years.
Challenges
- Heavy reliance on bedsheet demand in the export market, making it vulnerable to shifts in consumer preferences.
- Significant dependency on a few large buyers for revenue, increasing client concentration risk.
- Operating from a single manufacturing facility, leading to potential operational risks if disrupted.
- Past negative cash flows, which could strain financial resources if repeated.
- Exposure to legal risks and high borrowing levels, posing financial and operational challenges.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2023 | 9,952.99 | 740.00 | 41.53 | 41.53 | 0.3349 |
| 2021 | 6,435.01 | 20.00 | 41.53 | 41.53 | 0.3349 |
| 2024 | 12,099.28 | 1,480.00 | 237.87 | 237.87 | 1.6072 |
| 2022 | 7,823.22 | 20.00 | 41.53 | 41.53 | 0.3349 |
