NAPS Global India IPO booked 23% on Day 1: Check issue size, price band & more

The initial public offering (IPO) of NAPS Global India Ltd opened to mute response from investors on Tuesday, March 4.

The BSE SME issue is open for bidding till Thursday, March 6. The textiles importer aims to raise ₹11.88 crore from the primary market through its initial share sale.

NAPS Global India IPO attracted bids for over 2.8 lakh shares against 12.48 lakh shares on offer, leading to an overall subscription of 23%, as per the BSE data at the end of bidding at 5 pm.

On the first day of subscription, the issue received bids for 1.96 lakh shares from the retail investors compared to 6.24 lakh shares set aside for them. The retail portion was booked at 32%. The Non-Institutional Investors (NIIs), on the other hand, subscribed 14% of their quota by applying for 86,400 shares against the allocation of 6.24 lakh shares.

Here are all the key details about the issue for investors interested in applying for shares of NAPS Global India

NAPS Global India IPO price band and other details

NAPS Global India IPO comprises an exclusive fresh issue of 13.2 lakh shares, aggregating to ₹11.88 crore. The issue consists of no offer-for-sale (OFS) component.

The company has fixed the IPO price at ₹90 per share. The minimum lot size is 1,600 shares, requiring an investment of ₹1,44,000.

Aryaman Financial Services Ltd is the book-running lead manager of the NAPS Global India IPO, while Cameo Corporate Services Ltd is the registrar. Aryaman Capital Markets Ltd is the market maker for the IPO.

NAPS Global India IPO key dates

The IPO allotment status is expected to be finalised on Friday, March 7. Refunds will be issued on Monday, March 10, and the allottees will also receive shares in the Demat accounts on the same day.

The company has proposed to list its shares on the BSE SME platform on Tuesday, March 11.

About NAPS Global India and use of IPO proceeds

NAPS Global India is an importer of high-quality textiles like cotton, knitted fabrics, and velvet. It imports these materials from China and Hong Kong. The company supplies the products to garment vendors across India. It is an established player in the garment manufacturing supply chain with a strong presence in Maharashtra.

The company's products include cotton fabrics, knitted fabrics, super-soft velvet fabrics, man-made fabrics, linen fabrics, men's shirts, T-shirts, women's tops and kids' jeans.

Its competitive strengths include healthy financial performance, experienced promoters and directors and long-standing relations with suppliers.

The company intends to utilise the funds raised from the fresh issue of the initial public offering (IPO) to fund its working capital requirements and towards general corporate purposes.

NAPS Global India posted a 434.48% jump in its net revenue to ₹1.45 crore in the financial year 2023-24, as against ₹27 lakh in the preceding fiscal. Revenue from operations increased 82.7% to ₹47.31 crore in the fiscal 2024 as against ₹25.89 crore in FY23.

Revenue and net profit for the first nine months of FY25 stood at ₹52.44 crore and ₹1.53 crore, respectively.