NAPS Global India share price makes a strong debut, stock opens with 20% premium at ₹108 apiece on BSE SME
- NAPS Global India share price debuted at ₹108 on BSE SME, 20% above the issue price of ₹90. The IPO, open from March 5-6, saw a subscription status of 1.19 times and aims to raise ₹11.88 crore for working capital and corporate needs.
NAPS Global India share price made a strong debut on BSE SME today. NAPS Global India share price today opened at ₹108, which is 20% higher than the issue price of ₹90.
NAPS Global India Ltd opened its IPO for subscription on Tuesday, March 5, and it stayed open until Thursday, March 6. NAPS Global India IPO price band was established at ₹90 per equity share, which has a face value of ₹10 each. The minimum bid required was for 1,600 equity shares, with additional bids in increments of 1,600 shares. On the last bidding day, NAPS Global India IPO subscription status was 1.19 times, as per chittorgarh.com
NAPS Global India Limited, located in Mumbai, has been involved in the textile industry for over a decade. The company functions as a wholesale importer of textile goods and is recognized as a key player in the supply chain for garment manufacturing in Maharashtra.
It primarily sources cotton and synthetic fabrics in bulk from manufacturers in China and Hong Kong, ensuring that garment producers in Maharashtra receive their supplies promptly. The business primarily operates on a business-to-business basis. According to the Prospectus, the company's listed competitors are Alstone Textiles (India) Ltd, which has a P/E of 22.67, and Soma Textiles & Industries Ltd, with a P/E of 6.27.
NAPS Global India IPO details
NAPS Global India IPO worth ₹11.88 crore, consists of a fresh issue of 13,20,000 equity shares. There's no offer for sale (OFS) component.
The firm plans to utilize the net funds raised from the offering to fulfill goals such as meeting working capital requirements and catering to general corporate needs.
Aryaman Financial Services Limited is designated as the book-running lead manager for the NAPS Global India IPO, while Cameo Corporate Services Limited oversees the management of the issue's registry. Aryaman Capital Markets Limited serves as the market maker for the NAPS Global India IPO.
NAPS Global India IPO GMP today
NAPS Global India IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹90 with no premium or discount in the grey market according to investorgain.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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