Naman In-Store (India) Ltd Share Price – NSE

Engineering, Small Cap

Naman In-Store (India) will hold a meeting of the Board of Directors of the Company on 28 May 2024

Powered by Capital Market - Live News

The scrip was listed at Rs 125, a premium of 40.45% compared with the initial public offer (IPO) price. The stock has currently hit a lower limit of 5% over its listing price.

The counter hit a high of Rs 125.90 and a low of Rs 118.75. About 7.36 lakh shares of the company changed hands at the counter.

Naman In-Store (India)'s IPO was subscribed 206 times. The issue opened for bidding on 22 March 2024 and it closed on 27 March 2024. The price band of the IPO was fixed at Rs 84 to 89 per share.

The IPO comprised fresh issue of 28,48,000 shares. The promoter and promoter group's pre-IPO shareholding was 100%.

The firm intends to utilise the net proceeds for funding capital expenditure of the company to acquire land on leasehold basis at Butibori, MIDC and proposes to shift the existing manufacturing facilities of the company; for construction of factory building and for general corporate purposes.

Ahead of the IPO, Naman In-Store (India) on 21 March 2024, raised Rs 7.21 crore from anchor investors. The board allotted 8.11 lakh shares at Rs 89 per share to 5 anchor investor.

Naman In-Store (India) is one of the prominent display and retail furniture & fixture company with a broad spectrum of offerings and in-store solutions to various industries and retail stores. Further, it manufactures modular furniture for offices, beauty store, low-housing kitchens, educational institution as well as supermarket shelving solutions.

As on 30 September 2023, total employee strength is 491 employees. Out of 455 personnel involved in manufacturing and operations, 95 are permanent employees and 360 are on contractual basis.

The company recorded revenue from operations of Rs 79.21 crore and net profit of Rs 6.18 crore for the period as on 30 September 2023.

Powered by Capital Market - Live News