The shares of Neelam Linens & Garments, a small company, have seen a remarkable rise within 10 days of being listed. On Monday, the shares climbed by 2% to reach ₹51.50.
The company was listed on the stock market on November 18, 2024, with an IPO issue price of ₹24.
Since then, the shares have surged over 110% compared to the issue price. The IPO was open for bidding from November 8 to November 12, 2024.
Listed at a Premium of 66%
Neelam Linens & Garments made its stock market debut on November 18, 2024, at ₹40.05, reflecting a 66.87% premium over the issue price.
However, the shares closed slightly lower at ₹38.05 on the listing day. Since then, the shares have consistently risen, reaching ₹51.50 on December 2, 2024. The stock’s 52-week high is ₹53.30, while the low is ₹36.15.
Strong IPO Subscription Numbers
The IPO of Neelam Linens & Garments was hugely successful, with an overall subscription rate of 91.97 times.
The retail investor category was subscribed 57.82 times, while the Non-Institutional Investors (NII) category saw a staggering 273.47 times subscription.
The Qualified Institutional Buyers (QIB) category subscribed 15.40 times. Retail investors were allowed to bid for just one lot, which consisted of 6,000 shares, requiring an investment of ₹144,000.
A Decade of Excellence in Home Fashion
Established in 2010, Neelam Linens & Garments specializes in manufacturing and exporting premium soft home fashion products worldwide.
Their extensive product range includes bedsheets, pillow covers, duvet covers, towels, rugs, shirts, and other garments.
About Neelam Linens & Garments
Founded in 2010, Neelam Linens & Garments specializes in manufacturing and exporting high-quality home fashion products globally.
The company offers a wide range of products, including bedsheets, pillow covers, duvet covers, towels, rugs, shirts, and other garments.
