The shares of Neelam Linens & Garments, a small-cap company, have experienced a significant rise within 10 days of their stock market debut.
On Monday, the shares gained 2%, reaching ₹51.50. The company was listed on November 18, 2024, with an IPO issue price of ₹24, and since then, the stock has soared by over 110%.
Listed at a Premium with Strong Performance
Neelam Linens & Garments made its debut at ₹40.05, reflecting a 66.87% premium over the IPO issue price.
Although the shares closed at ₹38.05 on the listing day, they have steadily risen since, reaching ₹51.50 on December 2, 2024.
The stock’s 52-week high is ₹53.30, while the low is ₹36.15.
Successful IPO with High Subscription
The IPO of Neelam Linens & Garments was a huge success, with an overall subscription rate of 91.97 times. Here’s the breakdown:
Retail investors: Subscribed 57.82 times.
Non-Institutional Investors (NII): Subscribed 273.47 times.
Qualified Institutional Buyers (QIB): Subscribed 15.40 times.
Retail investors could bid for only one lot of 6,000 shares, requiring an investment of ₹144,000.
A Decade of Excellence in Home Fashion
Established in 2010, Neelam Linens & Garments is renowned for manufacturing and exporting premium soft home fashion products worldwide.
Their product portfolio includes bedsheets, pillow covers, duvet covers, towels, rugs, shirts, and other garments.
The company’s consistent growth and strong market response highlight its commitment to quality and innovation in the home fashion sector.
Strong IPO Performance and Premium Listing
Neelam Linens & Garments made its stock market debut on November 18, 2024, at ₹40.05, which was a 66.87% premium over the issue price.
Although the shares closed slightly lower at ₹38.05 on the listing day, they have steadily risen since then.
As of December 2, 2024, the shares reached ₹51.50, approaching their 52-week high of ₹53.30, while the 52-week low is ₹36.15.
