Naman In-Store India IPO: The initial public offering (IPO) of Naman In-Store (India) Ltd, which was opened for public subscription on March 22, has received an overwhelming response from investors. Till 12:48 pm on the second day of bidding on Tuesday, the Rs 25.35-crore IPO received 41.39 times subscription garnering bids for 7,84,14,400 shares as against 18,94,400 shares on offer.
The Naman In-Store (India) IPO will continue to open till March 27. The share allotment will happen on March 28, while its listing will take place on the NSE SME on April 2.
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Naman In-Store (India) IPO GMP
According to market observers, unlisted shares of Naman In-Store (India) Ltd are trading Rs 55 higher in the grey market as compared with its issue price. The Rs 55 grey market premium or GMP means the grey market is expecting a 61.8 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Naman In-Store (India) IPO Details
The Naman In-Store India IPO, which is a book-built issue of Rs 25.35 crore, is entirely a fresh issue of 28.48 lakh shares. The IPO opened for subscription on March 22, 2024, and will close on March 27, 2024.
The price band of the Naman In-Store (India) IPO is set at Rs 84 to Rs 89 per share. The minimum lot size for an application is 1,600 shares. The minimum amount of investment required by retail investors is Rs 1,42,400. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs 2,84,800.
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GYR Capital Advisors Private Limited is the book-running lead manager of the Naman In-Store (India) IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Naman In-Store (India) IPO is Giriraj Stock Broking.
Naman In-Store (India) Limited, which was set up in 2010, is a retail furniture and fittings company providing retail solutions to various industries and retail outlets. The company manufactures modular furniture for offices, beauty salons, kitchens with limited space, educational institutions, and shelving solutions for supermarkets.
Its revenue rose 193.48 per cent and profit after tax (PAT) surged 1,696.28 per cent in the financial year 2022-23.
