NAPS Global India IPO subscribed 23% on Day 1; check latest GMP, subscription status, other key details | Stock Market News
Source: Live Mint
NAPS Global India IPO: NAPS Global India Ltd has launched its IPO for subscription on Tuesday, March 5, and will remain open until Thursday, March 6. NAPS Global India IPO price band has been set at ₹90 per equity share with a face value of ₹10 each. A minimum bid can be made for 1,600 equity shares, with subsequent bids in multiples of 1,600 shares.
NAPS Global India Limited is a company based in Mumbai that has been active in the textile sector for over ten years. The organisation serves as a wholesale importer of textile products and is a recognised player in Maharashtra’s garment manufacturing supply chain.
The firm primarily imports cotton and synthetic fabrics in large quantities from producers in China and Hong Kong, ensuring timely delivery to garment manufacturing vendors in Maharashtra, India. The company’s operations mainly follow a business-to-business model.
As per the Prospectus, the company’s listed peers are Alstone Textiles (India) Ltd (with a P/E of 22.67 ), and Soma Textiles & Industries Ltd (with a P/E of 6.27).
NAPS Global India IPO subscription status
NAPS Global India IPO subscription status is 23%, on day 1. The retail portion was subscribed 32%, and NII portion was booked 14%.
At 18:54 IST, the company has received bids for 2,84,800 shares against 12,48,001 shares on offer, according to data on chittorgarh.com
NAPS Global India IPO details
NAPS Global India IPO worth ₹11.88 crore, consists of a fresh issue of 13,20,000 equity shares. There’s no offer for sale (OFS) component.
The company intends to use the net proceeds from the issue to support objectives like financing working capital needs and addressing general corporate purposes.
Aryaman Financial Services Limited serves as the book-running lead manager for the NAPS Global India IPO, whereas Cameo Corporate Services Limited is responsible for managing the issue’s registry. Aryaman Capital Markets Limited acts as the market maker for the NAPS Global India IPO.
NAPS Global India IPO GMP today
NAPS Global India IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹90 with no premium or discount in the grey market according to investorgain.com
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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