N R Vandana Tex Industries IPO GMP Jumps As Issue Subscribed Over 5 Times On Day 2
The latest grey market premium (GMP) for the NR Vandana Tex Industries IPO was Rs 14 on May 29, indicating an estimated gain of 31.11%.
The initial public offering of NR Vandana Tex Industries Ltd. opened for subscription on May 28 and has continued to receive a strong demand from the investors, as the issue was booked over 5 times on Thursday.
Incorporated in 1992, the Kolkata-based NR Vandana Tex Industries Ltd. operates on a B2B model. It specialises in designing, manufacturing and wholesale distribution of a wide range of cotton textile products, such as saris, suits and others. It is marketing its products under the Vandana and Tanya brands.
Here's all you need to know about the SME IPO of NR Vandana Tex Industries.
NR Vandana Tex Industries IPO GMP
According to InvestorGain, the grey market premium (GMP) for the NR Vandana Tex Industries IPO was Rs 14 at 3:30 p.m. on May 29. This indicates that the unlisted shares of the company were trading at Rs 59 per share, an estimated gain of 31.11%.
The GMP has shown a sizeable increase on Thursday after tradin flat for the last couple of days in the unlisted grey market.
Note: GMP does not represent official data and is based on speculation.
NR Vandana Tex Industries IPO Day 2 Subscription Status
The IPO has been subscribed 5.02 times as of 4:44 p.m. on Thursday.
Qualified Institutions: 2.02 times
Non-Institutional Buyers: 6.22 times
The subscription status will be updated at regular intervals.
NR Vandana Tex Industries IPO: All You Need To Know
NR Vandana Tex Industries IPO is a book-building issue worth Rs 27.89 crore. It comprises an entirely fresh issuance of 61.98 lakh shares.
The price band for the NR Vandana Tex Industries IPO has been set at Rs 42 to Rs 45 per share.
Retail investors can apply for a minimum lot size of 3,000 shares, amounting to an investment of Rs 1,26,000.
Marwadi Chandarana Intermediaries Brokers Pvt. is the book-running lead manager for NR Vandana Tex Industries IPO, while Cameo Corporate Services Ltd is the registrar for the.
The NSE SME issue will remain open for subscription till May 30.
Allotment status for the NR Vandana Tex Industries IPO is expected to be finalised by Monday, June 2. Following this, refunds to unsuccessful applicants will be initiated, as well as the transfer of shares to the Demat accounts of successful bidders, on June 3.
Shares of NR Vandana Tex Industries are tentatively slated for listing on the NSE SME platform on June 4.
NR Vandana Tex Industries: Business And Financials
NR Vandana Tex Industries specialises in the manufacturing, designing and distributing of cotton textile products. Its products are distributed across 31 states and Union Territories in India through a strong network of 1,041 wholesalers.
The company has three manufacturing units along with four warehouses. Its factory facility spans nearly 39,000 sq. ft.
Use Of Proceeds
NR Vandana Tex Industries eyes to utilise the net proceeds towards several of its business objectives. This includes a major portion of funding towards working capital requirements. Another portion of the funds will be allocated towards prepayment and repayment of loans, while the remaining budget goes towards general corporate purposes.
Financials
NR Vandana Tex Industries reported a revenue of Rs 271.1 crore for the financial year ended March 31, 2025. This amount stood at Rs 220.21 crore in FY24, compared to Rs 195.6 crore in FY23.
The company's profit after tax increased to Rs 8.6 crore in FY 25. The net profit stood at Rs 4.29 crore in FY24, against Rs 1.8 crore in FY23.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
