New Delhi, Mar 11 (KNN) NAPS Global India’s share price made a strong debut on the BSE SME platform today, opening at Rs 108, which represents a 20 premium over the issue price of Rs 90.

The company’s initial public offering (IPO) was open for subscription from Tuesday, March 5, until Thursday, March 6. The IPO was priced at Rs 90 per equity share with a face value of Rs 10 each.

Investors were required to bid for a minimum of 1,600 equity shares, with additional bids accepted in multiples of 1,600 shares. The offering achieved a subscription rate of 1.19 times on the final day of bidding, according to data from chittorgarh.com.

NAPS Global India Limited, based in Mumbai, has established itself as a significant participant in the textile industry over the past decade.

The company operates as a wholesale importer of textile goods and plays a crucial role in the garment manufacturing supply chain across Maharashtra. It primarily imports cotton and synthetic fabrics in bulk from manufacturers in China and Hong Kong, ensuring timely supply to garment producers in Maharashtra.

The company functions predominantly on a business-to-business model. As per the Prospectus, the company’s listed competitors include Alstone Textiles (India) Ltd with a P/E ratio of 22.67 and Soma Textiles & Industries Ltd with a P/E ratio of 6.27.

The Rs 11.88 crore IPO consisted entirely of a fresh issue of 13,20,000 equity shares, with no offer for sale (OFS) component. The company intends to utilise the net proceeds from the offering to address working capital requirements and general corporate purposes.

Aryaman Financial Services Limited served as the book-running lead manager for the IPO, while Cameo Corporate Services Limited managed the registry aspects of the issue. Aryaman Capital Markets Limited was appointed as the market maker for the offering.

(KNN Bureau)