Low-Cost IPO to open on 8 November: THIS company’s shares to be available at just Rs 24

On Friday, 8^th November, a soft home furnishing company will bring a low-cost IPO in the market. It will bring an initial public offering with a price band of just Rs 24. This year several companies have entered the stock market in compared to the last year. This private company will sell its shares to the public for the first time on a stock exchange on 8^th November.

This soft home furnishing company is Neelam Linens and Garments limited. It will bring the IPO on 8^th and will close it on 12^th November. It is planning to raise Rs 13 crore through the IPO that will bring a fresh issue of 54.18 lakh equity shares through the IPO. There will be no offer for sale (OFS) component. Company’s shares allotment will be done on 13^th November. It’s IPO is expected to be listed on the NSE SME platform on 18^th November.

Neelam Linens and Garments IPO price band is currently set at Rs 20 to Rs 24 per share and the minimum lot size for an application is 6000 Shares. The lowest amount of investment by retail investors is Rs 1,44,000 and the minimum lot size investment for HNI is 2 lots which is equivalent to 12,000 shares, amounting to Rs 2,88,000.

More about Neelam Linen and Garments company:

Neelam Linens and Garments India Limited is India’s first company that has launched high-thread count bedding. It is the manufacturer and exporter of High-end soft home fashion all around the world.

This company has a total of two manufacturing units. These units are located in Bhiwandi, Thane, Maharashtra. The company sells its products to both domestic and international customers. Its international customers include TJX, Paym America, Ocean State Job Lot, Lincraft Australia, Big Lots, 99 Cents and US Polo Association whereas the domestic customers include Vijay Sales, Amazon, Meesho and Emerson Stores.

It is also one of the leading Indian companies that is engaged in supplying luxurious high-thread count bedding and towel products at a very competitive price and supplying the products to major discount retail stores and distributors in the USA, Australia and Far East.