Naman In-Store shares slide 5% after a strong listing at 40% premium to IPO price

Naman In-Store (India) Ltd, a display and retail furniture and fixture company, made a stellar debut on stock exchanges on Tuesday, April 2, with the shares listing at a premium of 40% to the issue price.

Shares of the Mumbai-based company listed at ₹125 per share against the IPO price of ₹89 per share on the NSE SME platform, reflecting a premium of 40%.

Shares later retreated around 5% from the listing price to trade at ₹118.75 per share in the afternoon session due to profit taking by large investors.

Naman In-Store shares were trading at ₹118.75, showing gains of 33% over the issue price.

According to exchange data, around 7 lakh shares were traded on NSE during the day. The traded value was ₹9.31 crore.

The market valuation of the company stood at ₹125.26 crore, making investors richer by nearly ₹32 crore compared to the issue price.

In-shop furniture company, Naman In-Store (India) Ltd launched its public offer on March 22 to raise around ₹25.35 crore from public investors.

The public offer comprising a fresh issue of 28.48 lakh shares and no offer for sale component was a book-built issue. The company had fixed the price band at ₹84-89 per share. The minimum lot size was 1,600 shares for retail investors.

The issue received strong demand from investors subscribing more than 303 times the shares on offer. The issue was booked fully on the first day of bidding on March 22, driven by retail investor demand.

At the close of bidding on March 27, applications for 58.54 crore equity shares were received against 18.94 lakh shares on offer, according to exchange data.

Qualified Institutions Buyer’s category was booked 109.75 times. The non-institutional investors’ category was booked a whopping 528.12 times while retail investors’ portion was booked more than 328 times.

About Naman In-Store

Naman In-Store is a display and retail furniture & fixture company. The company offers a broad spectrum of in-store solutions to various industries and retail stores. It also manufactures modular furniture for offices, beauty stores, low-housing kitchens, educational institutions as well as supermarket shelving solutions.

It manufactures in-store customised furniture and fixtures in wood, metal and plastic and in respect of kiosks, full shops, Countertop Units (CTU), countertop display unit (CDU) and Point of Sales Merchandising (POSM). The company operates on a B2B (Business-to-Business) model.

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