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Business News/ Markets / Ipo/  Naman In-Store share price makes a bumper debut, stock opens with 40% premium at 125 apiece on NSE SME
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Naman In-Store share price makes a bumper debut, stock opens with 40% premium at ₹125 apiece on NSE SME

Naman In-Store share price opened at ₹125, which is 40.45% higher than the issue price of ₹89.

Naman In-Store share price lists on the NSE SME today. (https://www.namaninstore.com/)Premium
Naman In-Store share price lists on the NSE SME today. (https://www.namaninstore.com/)

Naman In-Store share price made a bumper debut on NSE SME today. On NSE SME, Naman In-Store share price opened at 125, which is 40.45% higher than the issue price of 89.

Naman In-Store (India) IPO opened for subscription on Friday, March 22, and closed on Wednesday, March 27. The IPO's price band was set in the range of 84 to 89 apiece of face value of 10 each. Bids could be placed by investors for multiples of 1,600 shares, with a minimum bid of 1,600. Naman In-Store (India) IPO subscription status 309.03 times on the last day with the retail portion being booked 328.80 times, NIIs subscribed 528.12 times, and QIBs booked 109.75 times.

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Also Read: Naman In-Store IPO allotment finalised today: Check latest GMP, key dates, 4 steps to check status

The firm is a well-known provider of retail furniture and fixtures, offering a wide range of services and in-store solutions for different sectors and retail locations, according to its Red Herring Prospectus (RHP).

The company also makes low-housing kitchen, office, beauty salon, school, and supermarket shelving modular furniture.

This firm is the only listed company in India that operates in this format. According to the company's RHP, as a result, they haven't given the firm an industry comparison.

In the fiscal year that concluded on March 31, 2022, the company's revenue jumped by 193.48%, while its profit after tax (PAT) grew by 1696.28%.

Also Read: Naman In-Store (India) IPO oversubscribed on Day 3, retail, NII steals the show; check latest GMP, review, more

Naman In-Store IPO details

With a face value of 10, the Naman In-Store IPO is a fresh issue of 28,48,000 equity shares, valued at about 25.35 crore. It's an entirely fresh issue with no offer-for-sale component.

The company intends to use the offering's proceeds for general corporate purposes, capital expenditures for the building of a factory facility, and the lease of property at Butibori, MIDC, where it plans to relocate its current production operations.

Bigshare Services Pvt Ltd is the registrar for the Naman In-Store (India) IPO, while GYR Capital Advisors Private Limited is the book running lead manager. Giriraj Stock Broking is the market maker.

Also Read: Naman In-Store (India) IPO: Price band, issue size, other key details to know

Naman In-Store IPO GMP today

Naman In-Store IPO GMP or grey market premium is +50. This indicates Naman In-Store share price were trading at a premium of 50 in the grey market, according to investorgain.com.

Naman In-Store IPO expected listing price was 139 per share, 56.18% more than the IPO price of 89, taking into account the upper end of the price band and the existing premium on the grey market.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Creative Graphics Solutions IPO: Check GMP, subscription status on day 2, other key details to know

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 02 Apr 2024, 10:02 AM IST
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