Naman In-Store (India) IPO price band has been set in the range of ₹84 to ₹89 per equity share of face value of ₹10 each. Naman In-Store IPO will open for subscription on Friday, March 22, and close on Wednesday, March 27. Naman In-Store (India) IPO lot size consists of 1,600 shares. Bids can be placed for multiples of 1,600 shares, with a minimum bid of 1,600. The floor price is 8.4 times of the face value and the cap price is 8.9 times of the face value of the equity shares.
The company is a well-known provider of retail furniture and fixtures, with a wide range of services and in-store solutions for different sectors and retail locations, according to its Red Herring Prospectus (RHP).
The company also makes modular furniture for educational institutions, beauty parlours, workplaces, low-housing kitchens, and supermarket shelving.
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The company brings together all the resources required to satisfy the demands of any fit-out project under one roof, specialising in the design and implementation of turnkey projects.
Since both engineering and shop drawing are done internally, under one roof, the firm specialises in offering one-stop solutions across various retail outlets and sectors.
There are no listed businesses in India that conduct business in a comparable manner to the firm, the company said in its RHP. They haven’t, therefore, given a comparison of the industry with respect to the the company.
Between the fiscal year ending on March 31, 2023, and March 31, 2022, the company had a 193.48% rise in revenue and a 1696.28% jump in profit after tax (PAT).
Naman In-Store (India) IPO details
Naman In-Store IPO, which is worth about ₹25.35 crore, comprises a fresh issue of 28,48,000 equity shares with a face value of ₹10. There is no offer-for-sale component, and this is an entirely fresh issue.
The company plans to use the issue proceeds for the following purposes: financing capital expenditures for their business to leasehold land at Butibori, MIDC, where it plans to relocate its current manufacturing facilities; building a factory building; and general corporate purposes.
The Naman In-Store (India) IPO’s registrar is Bigshare Services Pvt Ltd, and its book running lead manager is GYR Capital Advisors Private Limited. Giriraj Stock Broking is the market maker for the Naman In-Store IPO.
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15% of the shares in the Naman In-Store IPO are reserved for non-institutional institutional investors (NII), 50% of the shares are reserved for qualified institutional buyers (QIB), and not less than 35% of the offer is reserved for retail investors. The market maker portion reserved is up to 1,42,400 shares or 5% of the issue.
Tentatively, Naman In-Store (India) IPO basis of allotment of shares is scheduled to be out Thursday, March 28, and the company will initiate refunds on Monday, April 1, while the shares will be credited to the demat account of allottees on the same day following refund. Naman In-Store share price is likely to be listed on NSE SME on Tuesday, April 2.
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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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Published: 18 Mar 2024, 11:47 AM IST