NR Vandana Textile IPO Day 3: GMP, subscription status, price band, other details of NSE SME IPO

NR Vandana Textile IPO day 3: The initial public offering (IPO) of textile manufacturer N R Vandana Textile Industries Limited opened for subscription on Wednesday, May 28, and closed on Friday, May 30. The ₹28 crore SME IPO is entirely a fresh issue of nearly 62 lakh shares. The company intends to use the net proceeds from the issue to fund its working capital requirements, payment of some borrowings and for general corporate purposes.

NR Vandana Textile IPO subscription status

By 5 PM on Thursday, the third day of subscription, the issue had been subscribed 101 times. The segment reserved for non-institutional investors (NIIs) had been subscribed to 126.70 times. The quota for qualified institutional buyers (QIBs) was booked 36.54 times.

NR Vandana Textile IPO details

1. NR Vandana Textile IPO GMP: According to market sources, around 5 PM on Thursday, the grey market premium (GMP) of NR Vandana Textile shares was ₹14. This indicates that NR Vandana Textile shares could be listed at a premium of 31.11 per cent.

2. NR Vandana Textile IPO date: The NSE SME IPO opened for subscription on Wednesday, May 28, and concluded on Friday, May 30.

3. NR Vandana Textile IPO price: The price band of the public issue has been fixed at ₹42 to ₹45 per equity share.

4. NR Vandana Textile IPO size: The company intends to raise ₹27.90 crore from the issue, which it will mainly use to meet working capital requirements and payment of loans.

5. NR Vandana Textile IPO lot size: Bidders can apply in lots, and one lot of this IPO comprises 3,000 company shares.

6. NR Vandana Textile IPO reservation: As much as 50 per cent of the net issue is reserved for QIBs, while 35 per cent of the net issue is reserved for retail investors. The remaining 15 per cent of the issue is reserved for NIIs.

7. NR Vandana Textile IPO allotment date: The IPO is closing on Friday, May 30, so as per SEBI's listing rules, the company is expected to finalise the share allotment on the next working day, which is Monday, June 2. Successful bidders can expect shares of the company in their demat accounts on Tuesday, June 3, and bidders who fail to get the allocation may get a refund on the same day.

8. NR Vandana Textile IPO book-running lead manager and registrar: Marwadi Chandarana Intermediaries Brokers Private Limited is the book-running lead manager, while Cameo Corporate Services Limited is the registrar for the issue.

9. NR Vandana Textile IPO listing: As per SEBI's T+3 rule of IPO listing, shares of the company are proposed for listing on the NSE SME on Wednesday, June 4.

10. NR Vandana Textile business overview: According to the company's RHP, it is engaged in designing, manufacturing and wholesale business of cotton textile products, including a variety of high-quality cotton sarees, salwar suits and bed sheets.

The company's consolidated profit for FY23 stood at ₹1.8 crore, which rose to ₹4.3 crore in FY24 and ₹8.6 crore in FY25.

Revenue from operations for FY23, FY24 and FY25 stood at ₹195.24 crore, ₹220.11 crore and ₹270.80 crore, respectively.

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