IPO GMP | Cheap IPO open for investment, lottery will be held on the first day, price band only Rs 20 to 24, do not miss the opportunity – GMP IPO

Neelam Linen and Garments Limited IPO Opens for Subscription

IPO GMP | The IPO of Neelam Linen and Garments Limited opened for subscription on November 8, 2024. The company aims to raise Rs 13 crore, with a price band set between Rs 20-24 per share.

Investment Details

Investors can subscribe to the IPO until November 12. Neelam Linen will offer 54.18 lakh shares in this initial public offering.

Utilization of Funds

Out of the raised funds, Rs 5.57 crore will be allocated for purchasing embroidery machines, while Rs 4 crore will go towards repaying existing loans. The remaining amount will support general corporate purposes.

IPO Lot Size

For this IPO, 50% of the shares are reserved for eligible institutional investors, 35% for retail investors, and 15% for non-institutional investors. Retail investors must bid for a minimum of 6,000 shares, translating to an investment of at least Rs 1,44,000.

Share Listing

Trading of Neelam Linen shares on NSE Emerge is expected to commence on November 18, 2024. Expert Global Consultants is serving as the merchant banker, while Purva Stock Registry acts as the IPO registrar.

Disclaimer: Investing in mutual funds and the stock market involves risks. Always consult a financial advisor before making investment decisions.

News in Hindi | IPO GMP 09 November 2024 Hindi News.