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The initial public offer (IPO) of NAPS Global India received bids for 15,53,600 shares as against 13,20,000 shares on offer. The issue was subscribed 1.17 times.
Retail investors bid for 9,96,800 shares and non-institutional investors bid for 5,56,800 shares. There were no bids from the qualified institutional investors.
The issue opened for bidding on 4 March 2025 and it closed on 6 March 2025. The price band of the IPO was set at Rs 90 per share. The equity shares will list on BSE's SME platform.
The IPO comprised fresh issue of 13,20,000 equity shares. The promoter and promoter group shareholding diluted to 70.20% from 100% pre-issue.
The company intends to utilize the net proceeds to meet working capital requirements and for general corporate purposes.
NAPS Global India is a wholesale importer of textile products and acts as an established player in the garment manufacturing supply chain in Maharashtra, India. The company primarily imports cotton and man-made fabrics from manufacturers in China and Hong Kong in bulk quantities and provides timely supply to vendors of garment manufacturing companies in Maharashtra, India. As of 31 December 2024, the company had 9 employees.
The company recorded revenue from operations of Rs 52.44 crore and net profit of Rs 1.53 crore for the period as of 31 December 2024.
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