Naman In-Store IPO subscribed 12 times on day 1, retail portion booked 18 times: Check subscription, price band and lot size

Naman In-Store India IPO, a book-built issue worth ₹25.35 crore, opened to a strong demand as the public issue was fully subscribed across all categories within a few hours of launch on Friday, March 22.

The initial public offer (IPO) was overall subscribed 12 times till 3:50 pm on Friday, as per the NSE data. The investors submitted bids for a total of 2,28,14,400 shares compared to 18,94,400 shares on offer.

The retail investors’ segment saw the highest demand as the category was booked 18 times. The investors in the retail category applied for 1,70,52,800 shares compared to 947,200 shares on offer for them.

The qualified institutional buyers’ (QIBs) segment was booked 3.51 times as the public issue received bids for 18,99,200 shares compared to 5,40,800 shares set aside for the category. The non-institutional investors (NIIs) placed bids for a total of 38,62,400 shares compared to 4,06,400 shares reserved for the segment, leading to a subscription of 9.5 times.

The IPO comprises a fresh issue of shares aggregating to 28.48 lakh equity shares, including a market maker portion of 1,42,400 shares and 8,11,200 shares for anchor investors.

Naman In-Store IPO dates

Naman In-Store IPO subscription is open for public investors from March 22 to March 27. The IPO share allotment status is expected to be finalised on Thursday, March 28.

The company is expected to initiate refunds for non-allottees and credit of shares to Demat accounts of successful bidders on April 1.Shares of Naman In-Store India are tentatively scheduled to be listed on the NSE SME platform, Eemerge, on April 2.

Naman In-Store IPO price band, lot size and minimum investment

Naman In-Store IPO price band has been set at ₹84 to ₹89 per share. The minimum lot size for retail investors per application is 1,600 shares, which aggregates to an investment amount of ₹1,42,400.

The High Net-Worth Individuals (HNI) can apply for at least two lots of 3,200 shares, amounting to a minimum investment of ₹2,84,800.

Bigshare Services Pvt Ltd is the registrar for the IPO while GYR Capital Advisors Private Limited is the book running lead manager. Giriraj Stock Broking is the market maker for the Naman In-Store (India) IPO.

Naman In-Store (India) IPO objective

Naman In-Store India aims to secure funding for specific capital expenditures through the public offer. This includes acquiring land on a leasehold basis at Butibori, MIDC, with plans to relocate the company’s current manufacturing facilities. Additionally, funds will be allocated towards the construction of a factory building.

About Naman In-Store (India) Limited

Naman In-Store (India) Limited is a provider of display and retail fixture solutions for a wide array of industries. Within the retail sector, the company specialises in store fixtures tailored for fashion, apparel, footwear, beauty, and electronic retailers.

Beyond retail fixtures, Naman In-Store (India) Limited is also present in the manufacturing sector. The company operates on a Business-to-Business (B2B) model, and its capabilities extend to office furniture, low-housing kitchens, educational institution furniture and supermarket shelving solutions.

The promoters of the company are Raju Paleja, Bhavika Paleja, Jay Shah, Mehul Naik and Abdul Shahid Shaikh.

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