Neelam Linens and Garments IPO allotment expected today: Steps to check status on NSE, Purva Sharegistry

Neelam Linens and Garments IPO share allotment status is expected to be finalised on Wednesday, November 13, after the NSE SME issue closed for bidding with a strong demand.

The NSE SME issue was open for subscription from Friday, November 8, to Tuesday, November 12.

Neelam Linens and Garments IPO received bids for more than 33.19 crore shares compared to 36.06 lakh shares on offer on the last day of bidding on Tuesday. The issue was booked 92.04 times, across all investor categories.

The retail quota was booked 57.82 times, and the Non-Institutional Investors (NIIs) portion was booked 273.82 times. The Qualified Institutional Buyers (QIBs) subscribed the issue 15.4 times.

The investors participating in the IPO subscription are now waiting for the company to finalise the share allotment status.

Refunds will be initiated for unsuccessful bidders and successful bidders will receive shares of Neelam Linens and Garments in their demat accounts on Thursday, November 14.

Shares of Neelam Linens and Garments will list on the NSE SME platform, Emerge. The tentative listing date for the SME issue is Monday, November 18.

Neelam Linens and Garments IPO share allotment status can be checked on the websites of the NSE and the issue registrar, Purva Sharegistry India Pvt Ltd.

Steps to check Neelam Linens and Garments IPO share allotment status on NSE website

• Go to the allotment status page on the NSE website: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Type in your login details to log into the website. If you don’t have an account, you must sign up on the NSE website.
• Choose 'Neelam Linens and Garments'.
• Verify PAN details.
• Enter your IPO application number.
• Click on the 'submit' button.

Here’s how to check Neelam Linens and Garments IPO share allotment on registrar website:

• Visit the official website of the registrar Purva Sharegistry using this link: https://www.purvashare.com/.
• Go to the ‘Investor Service’ section on the main menu and click on ‘IPO allotment query’.
• Choose ‘Neelam Linens and Garments’ from the company list.
• Enter your PAN or Application No.
• Click on Search to view allotment details.

Neelam Linens and Garments IPO details

Neelam Linens and Garments IPO is worth ₹13 crore and consists of an entirely fresh issue of 54.18 lakh shares.

Neelam Linens and Garments IPO price band was fixed at ₹20 to ₹24 per share. The minimum lot size for retail investors was fixed at 6,000 shares which aggregated to an investment of ₹1,44,000.

Neelam Linens and Garments IPO objective

The company plans to use the money raised via the initial public offering for purchasing embroidery machines. A portion of the proceeds will also be used for repayment of the company’s borrowings and for general corporate purposes.

About Neelam Linens and Garments

Neelam Linens and Garments, incorporated in 2010, manufactures and exports high-end soft home fashion around the world. The company has two manufacturing units located in Mumbai, Maharashtra. The company had 56 employees as of June 30, 2024.