Naman In-Store (India) IPO has set the price band for its equity shares at ₹84 to ₹89 per share, with a face value of ₹10 each. The IPO subscription period will start on Friday, March 22, and close on Wednesday, March 27. The lot size for Naman In-Store IPO is 1,600 shares, and bids can be placed in multiples of 1,600 shares, with a minimum bid of 1,600 shares. The floor price is set at 8.4 times the face value, while the cap price is set at 8.9 times the face value of the equity shares.
Naman In-Store is a renowned provider of retail furniture and fixtures, offering a wide range of services and in-store solutions across various sectors and retail locations. The company also manufactures modular furniture for educational institutions, beauty parlours, workplaces, low-housing kitchens, and supermarket shelving. With expertise in both engineering and shop drawing, the firm specializes in offering comprehensive turnkey solutions for fit-out projects.
According to the Red Herring Prospectus (RHP), there are no comparable businesses in India conducting business in a similar manner to Naman In-Store. The company witnessed significant growth in revenue and profit after tax (PAT) between the fiscal years ending on March 31, 2023, and March 31, 2022, with a 193.48% rise in revenue and a 1696.28% jump in PAT.
The Naman In-Store IPO, valued at approximately ₹25.35 crore, comprises a fresh issue of 28,48,000 equity shares with a face value of ₹10 each. There is no offer-for-sale component, and the entire issue is fresh. The proceeds from the IPO will be utilized for financing capital expenditures, building a factory building, and general corporate purposes.
The IPO’s registrar is Bigshare Services Pvt Ltd, and the book running lead manager is GYR Capital Advisors Private Limited, with Giriraj Stock Broking serving as the market maker. The IPO allocates 15% of shares to non-institutional institutional investors (NII), 50% to qualified institutional buyers (QIB), and at least 35% to retail investors. Additionally, up to 5% of the issue is reserved for the market maker portion.
The basis of allotment of shares for Naman In-Store (India) IPO is tentatively scheduled to be released on Thursday, March 28, with refunds initiated on Monday, April 1. The shares are expected to be credited to the demat accounts of allottees on the same day as the refund. Naman In-Store shares are likely to be listed on NSE SME on Tuesday, April 2.
