SME IPO: Naman In-Store trims issue size; commands solid GMP of over 50%.

The initial public offering (IPO) of small and medium enterprise (SME) Naman In-Store will open for registration on Friday, March 22 and close on Wednesday, March 27.
The IPO consists of a fresh problem of 2.85 million shares, minimized from the earlier scheduled concern of 3 million shares. The cost band is fixed at Rs 84-89, indicating a fundraise of Rs 25.35 crore. The supply will certainly get noted on the Emerge Platform of the NSE.

Objects of the issue

The business plans to make use of almost Rs 4.7 crore of the IPO earnings for capital investment to obtain arrive on a leasehold basis at Butibori, MIDC, where its wanting to move its existing production facilities.

Building and construction of the manufacturing facility building will certainly see Rs 12.17 crore being made use of from the net earnings, based on its RHP.

Grey market premium.

The stock is seeing solid need in the unpublished or the grey market. Since today, the shares were commanding a costs of 56 percent versus the upper price band of Rs 89, signalling at a possible listing at Rs 139 each, based on

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Business profile.

The B2B business generally deals across two item categories of retail furnishings and fixtures (for office, other retail electrical outlets) and commercial steel items.
Under retail, the firm makes modular furnishings for offices, charm stores, paint outlets, style clothing electrical outlets, low-housing kitchen areas, educational institutions, paan stores and supermarket shelving services, to name a few. For April-Sept 2023, it obtained 78 percent of its revenue from this sector.

Under industrial, it makes and provides metal items such as electric control board, fuel pump kiosks, cooling and heating outer real estate, battery shelf, UPS cupboards and web server racks, among others for sectors. This sector made 21 per cent of its income gained in between April-Sept 2023.

Its various other vertical consists of sale of storage space system, devices, general furnishings besides retail, steel powder scrap and other scrap, point of sale product etc
. The company’s production centers lie at Vasai, Maharashtra. It has 2 warehouses situated in Kaman, Maharashtra and 1 at Bengaluru.

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