Neelam Linens and Garments (India) Ltd - IPO

Neelam Linens and Garments (India) Ltd IPO Details

Initial public issue of up to 54,18,000^ equity shares of face value of Rs. 10 each (Equity Shares) of Neelam Linens and Garments (India) Limited (Company) for cash at a price of Rs. 24 per equity share (including a share premium of Rs. 14 per equity share) (Issue Price) aggregating up to Rs. 13.00 crores of which up to 2,76,000 equity shares of face value of Rs. 10 each for cash at a price of Rs. 24 per equity share including a share premium of Rs. 14 per equity share aggregating to Rs. 0.66 crores will be reserved for subscription by market maker to the issue (the Market Maker Reservation Portion). The issue less the market maker reservation portion i.e. net issue of 51,42,000 equity shares of face value of Rs. 10 each at a price of Rs. 24 per equity share aggregating to Rs. 12.34 crores is herein after referred to as the Net Issue. The issue and the net issue will constitute 26.80% and 25.43% respectively of the post issue paid up equity share capital of the company.

Objective of issue

Funding capital expenditure requirements of the company towards purchase of Embroidery Machines for expansion. Prepayment or repayment of all or portion of certain outstanding borrowings availed by the compant. General corporate purposes.

Neelam Linens and Garments (India) Ltd Contact Details

Neelam Linens and Garments (India) Ltd, 9 ShivShakti Indl Es, J R Boricha Marg, Lower Parel, Mumbai - 400 011

Phone - 91-22-23010771/23018261

Fax - 91-22-23012517

Email - compliance@neelamgarments.com

Website - www.neelamgarments.com