Naman In-Store (India) Lists at 40% Premium at Rs 125 per share

Naman In-Store (India) Limited is a retail furniture and fittings company that provides retail solutions to various industries and retail outlets, debuted on the Indian stock market today.

The stock of Naman In-Store India opened at Rs 125 per share on the NSE, indicating an impressive 40.45% premium over the final issue price of Rs 89 per share. The market capitalisation on the NSE stands at Rs 131.85 crore.

IPO Proceeds

The company plans to utilise the proceeds from the Issue for the following purposes: funding capital expenditure to acquire leasehold land at Butibori, MIDC, for relocating its manufacturing facilities, constructing a factory building, and for general corporate purposes.

Business Overview

Naman In-Store (India) Limited is a retail furniture and fittings company that provides retail solutions to various industries and retail outlets. The company manufactures modular furniture for offices, beauty salons, kitchens with limited space, and educational institutions, as well as shelving solutions for supermarkets. Additionally, it produces customized furniture and fixtures in wood, metal, and plastic for kiosks, complete stores, Countertop Units (CTU), Countertop Display Units (CDU), Point of Sale Merchandising (POSM), etc. The company operates according to a B2B (business-to-business) model.

Subscription details

On March 27, 2024, the final day of the IPO window, the IPO witnessed an impressive response, with a subscription rate of 309.03 times. The public issue received remarkable interest, with the retail category being subscribed 328.80 times, while the DII and NII categories reached a subscription rate of 109.75 and 528.12 times respectively.

The IPO price band was Rs 84 and Rs 89, with a face value of Rs 10 per share and a lot size of 1600 shares. The total size of the company’s IPO was Rs 25.35 crore, and the final share issue price was fixed at Rs 89 each.

Conclusion

The crucial question that arises in everyone’s mind is whether to hold onto the shares or book profits. Investors who applied for listing gains only have already earned 40% on the listing day itself and can choose to book the profit it has generated. On the other hand, investors with a higher risk appetite may opt to hold the shares for the medium to long term, which could prove to be beneficial.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.