NR Vandana Textile IPO: Check GMP, Day 1 Subscription Status, Price Band And More

The initial public offering of NR Vandana Textile Ltd. opened for subscription on May 28.

Incorporated in 1992, the Kolkata-based NR Vandana Textile 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.

The NSE SME issue will remain open for subscription till May 30.

Investors interested in participating in the IPO subscription can check the following details before submitting applications for shares. 

NR Vandana Textile 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 Textile 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. For High Net-worth Individuals (HNIs), the minimum bid size is two lots, or 6,000 shares. This aggregates to an investment of Rs 2,70,000.

More than 50% of the net issue has been reserved for the Qualified Institutional Buyers (QIBs). The company has reserved 35% of the net issue size for the retail category, while the remaining 15% has been set aside for the Non-Institutional Investors (NIIs).

Marwadi Chandarana Intermediaries Brokers Pvt. is the book-running lead manager for NR Vandana Textile IPO, while the registrar for the issue is Cameo Corporate Services Ltd.

Allotment status for the NR Vandana Textile 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 the company are tentatively slated for listing on the NSE SME platform on June 4.

According to InvestorGain, the grey market premium (GMP) for the NR Vandana Textile IPO was NIL at 1:30 p.m. on May 28. It indicates a potential flat listing for the shares of the company at Rs 45 per piece, same as the upper price band of the NSE SME issue.

Note: GMP does not represent official data and is based on speculation.

The IPO has been subscribed 0.89 times as of 2:49 p.m. on Wednesday.

• Qualified Institutions: NIL

• Non-Institutional Buyers: 4.16 times

• Retail Investors: NIL

The subscription status will be updated at regular intervals.

Specialising in the manufacturing, designing and distributing of cotton textile products, products of NR Vandana Textile are distributed across 31 states and Union Territories in India through a strong network of 1,041 wholesalers.

Holding three generations of experience in the textile industry, the company has three manufacturing units along with four warehouses. Its factory facility spans nearly 39,000 sq. ft.

It leverages a B2B e-commerce platform to have a broader reach, with products available on platforms like Ajio, SOLV, Udaan, Bijnis and Jozzby.

Use Of Proceeds

NR Vandana Textile 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 Textile 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.