Neelam Linens IPO shares to debut on NSE SME platform today. Here's what GMP signal
Neelam Linens and Garments will debut on the NSE SME platform today. Ahead of the listing, the company's shares traded with a GMP of Rs 14.
Considering the upper price band of Rs 24, the stock is expected to list with gains of 54% premium over the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The net proceeds from the public offer will be used for funding capital expenditure requirements of the company, repayment of debt and general corporate purposes.
Neelam Linens operates as a soft home furnishing company based out of Maharashtra, India, extending our services to a global clientele, including US, Australia and Far East.
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