The non-institutional investor (NII) segment had received bids for 1.88 crore shares through 1,286 applications, while the qualified institutional buyers (QIBs) had placed bids for 28.20 lakh shares via 5 applications.
The IPO will remain open for subscription until May 30.
The company aims to raise Rs 27.89 crore through a fresh issue of 61.98 lakh equity shares, with the price band set between Rs 42 and Rs 45 per share.
Retail investors are required to apply for a minimum of one lot, consisting of 3,000 shares—amounting to Rs 1,35,000 at the upper price band. High net-worth individuals (HNIs) must bid for at least two lots (6,000 shares), translating to Rs 2,70,000.
Grey Market Premium (GMP) of NR Vandana Tex Industries
Ahead of its debut on the exchanges, NR Vandana Tex Industries’ shares were not commanding any grey market premium (GMP) in the unlisted market.
NR Vandana Tex Industries overview
Based in Kolkata, NR Vandana Tex Industries is a textile firm engaged in designing, manufacturing, and selling cotton sarees, salwar suits, and bed sheets under its proprietary brands—Vandana and Tanya. Operating through a B2B model, the company distributes its products via a network of over 1,000 wholesalers across 31 states in India, and also leverages platforms such as Udaan and Ajio for broader reach.The IPO proceeds will be used to support working capital requirements, repay certain borrowings, and meet general corporate expenses.
NR Vandana Tex Industries financial performance
NR Vandana has demonstrated solid financial growth in recent years. For FY25, the company reported a 23% rise in revenue to Rs 271 crore and a net profit of Rs 8.6 crore—more than double the previous year. It posted a return on equity (RoE) of 17.5% and maintained a debt-to-equity ratio of 2.43.
NR Vandana Tex Industries IPO key dates and issue management
Share allotment is expected to be finalized by June 2, with listing scheduled on the NSE SME platform by June 4. Marwadi Chandarana Intermediaries is managing the IPO, while Cameo Corporate Services serves as the registrar.
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