The shares of Naman In-Store listed on the NSE SME platform on Tuesday at a premium of 40.45%. The stock debuted at Rs 125 as against an offer price of Rs 89.
Ahead of the listing, the company’s shares traded at a premium of Rs 45 in the unlisted market.
The IPO, which is entirely a fresh equity issue of 28.48 lakh shares, received a massive response from investors with an overall subscription of 300 times.
The net proceeds from the public offer will be used for funding capital expenditure to acquire land on a leasehold basis, construction of factory, and general corporate purposes.
Naman In-Store (India) is a display and retail fixture company with a broad spectrum of offerings tailored to various industries. In the retail sector, it specialises in providing store fixtures for fashion, apparel, footwear, beauty and electronic retailers.
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The company also provides one-stop solutions across multiple retail stores and industries as all engineering and shop drawing is performed in-house, under one roof.
As of September 2023, it has served around 32 retail customers and their franchises and 4 industrial customers.
The retail landscape in India offers a wide array of choices, including global e-commerce platforms, single-brand shopping websites, multi-retail apps, and social media sellers. Furthermore, discretionary spending power is on the rise, with the average per capita income in India surpassing $2000 and projected to exceed $12,000 by 2047.
For the period ended September 2023, the company clocked revenues of Rs 79.21 crore and net profit of Rs 6.18 crore.
GYR Capital Advisors acted as the lead manager to the issue and Bigshare Services was the registrar.
