NAPS Global India lists at 20% premium on BSE SME; check details

NAPS Global India Ltd shares were listed at a premium of 20% on the BSE SME platform on Tuesday, March 11, marking a strong debut on the stock exchange.

According to the BSE data, NAPS Global India Ltd shares started trading at ₹108 per piece, reflecting gains of 20% over the issue price of ₹90 apiece.

More than 19,000 equity shares changed hands on the BSE SME platform. The total turnover stood at ₹20.7 lakh. The market valuation of the company stood at ₹47.8 crore.

Soon after listing, the stock declined as much as 5% to hit the lower circuit limit at ₹102.6 apiece due to profit booking.

At the listing price of ₹108 per share, the value of a single lot of equity shares bagged by the IPO investors stood at ₹1,72,800 (₹108 x 1,600). The IPO investors would have made a listing gain of ₹28,800 per lot as the minimum investment in a single lot was ₹1,44,000 (₹ 90 x 1,600).

NPAS Global India raises ₹11.88 crore through IPO

Textiles importer NAPS Global India raised ₹11.88 crore through its initial public offering last week. The IPO was open for subscription from March 4 to March 6. The IPO comprised a fresh issue of 13.2 lakh shares priced at ₹90 per piece.

The SME IPO closed the final day of bidding with an overall subscription of 1.24 times. The IPO received applications for 15.53 lakh shares against 12.48 lakh shares on offer.

The retail individual investors’ segment was subscribed 1.59 times as bids for more than 9.96 lakh shares were received against 6.24 lakh shares on offer.

The Non-Institutional Investors’ (NIIs) portion was undersubscribed due to poor demand. NII portion was booked just 89% as applications for 6.24 lakh shares were received against the quota of 5.56 lakh shares.

NPAS Global India IPO objective

NAPS Global India is a textile products importer. It sources bulk textile products from China and Hong Kong and supplies those to its customers in Maharashtra. The company imports products like cotton fabrics, knitted fabrics, man-made textiles, linen fabrics and others.

NAPS Global India has proposed to use IPO funds of ₹9.19 crore to meet working capital requirements and ₹1.69 crore for general corporate purposes.

The company plans to venture into forward integration and looks to sell custom-made garments. The company plans to import fabric and supply it to outsourced garment manufacturers for custom-made garments.

NAPS Global India Ltd Financials

NAPS Global India reported revenue of ₹52.44 crore and a profit after tax of ₹1.53 crore for the April-December period of FY 2024-25.

Its revenue in FY 2023-24 stood at ₹47.88 crore against ₹26.01 crore in FY 2022-23. Its profit after tax (PAT) jumped to ₹1.45 crore in FY 24 from ₹27 lakh in the previous financial year.