Veekayem Fashion and Apparels Limited IPO Detail
Incorporated in 1985, Veekayem Fashion and Apparels Limited is engaged in the business of weaving and garment manufacturing. The company's product portfolio includes two main product categories: Textile the company manufactures Greige Fabrics including 100% Cotton - Lycra and Non-Lycra, Giza, Supima, Blended Cotton Suiting - Chief Value Cotton, Polyester Cotton, 100% Cotton Yarn Dyed, Polyester Viscose, Terry Rayon Suiting and Mock Linen and Garments the company manufacture all types of readymade garments for men and women, such as formal shirts, cotton shirts, formal trousers, cotton trousers, cotton joggers, cotton shorts, pyjamas and Bermuda.
Veekayem Fashion's manufacturing facility is situated at Umargaon in the state of Gujarat. The manufacturing facility is installed with automated machinery capable of manufacturing 5,00,000 meters of fabric per month and 1,50,000 pcs of readymade garments per month.
Competitive Strength:
- Consistency in Quality and Service Standards.
- Scalable Business Model.
- Product mix and Market mix.
- Cost-effective production and timely fulfilment of orders.
- Experienced management and dedicated employee base.
- Wide sales and distribution network.
Company Promoters
Krishankant Gupta, Vijaykumar Gupta and Madanlal Gupta are the company promoters.IPO Details
| IPO Opening Date | Aug 05, 2022 |
| IPO Closing Date | Aug 11, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹28 per equity share |
| Market Lot | 4000 Shares |
| Min Order Quantity | 4000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹4.44 Cr |
| Fresh Issue | 1,584,000 shares of ₹10 (aggregating up to ₹4.44 Cr) |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 1.65x | 31.60x | 16.62x | |
| Day 2 | - | - | 46.38x | 113.31x | 79.84x | |
| Day 3 | - | - | 355.85x | 247.09x | 301.47x | |
| Day 4 | - | - | 0.00x | 247.09x | 301.47x | |
| Day 5 | - | - | 0.00x | 247.09x | 301.47x | |
| Day 6 | - | - | 0.00x | 247.09x | 301.47x | |
| Day 7 | - | - | 0.00x | 247.09x | 301.47x |
IPO Tentative Timetable
The Veekayem Fashion and Apparels Limited IPO open date is Aug 05, 2022, and the close date is Aug 11, 2022. The issue may list on Aug 22, 2022.
| IPO Open Date | Aug 05, 2022 |
| IPO Close Date | Aug 11, 2022 |
| Basis of Allotment Date | Aug 17, 2022 |
| Initiation of Refunds | Aug 18, 2022 |
| Credit of Shares to Demat Account | Aug 19, 2022 |
| IPO Listing Date | Aug 22, 2022 |
IPO Lot Size
The Veekayem Fashion and Apparels Limited IPO market lot size is 4000 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or ₹112000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 4000 | ₹112000 |
| Maximum | 1 | 4000 | ₹112000 |
IPO Promoter Holding
| Pre Issue Share Holding | 54.31% |
| Post Issue Share Holding | 39.67% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 12090.4 | 21571.46 | 109.1 |
| 31-Mar-21 | 12351.95 | 7670.06 | 35.25 |
| 31-Mar-22 | 13267.19 | 14947.02 | 188.54 |
Objects of the Issue:
The Company proposes to utilize the funds which are being raised through this Issue towards the following objects:
a) Funding the working capital requirements of the company.
b) General Corporate Purposes.
Veekayem Fashion and Apparels Limited IPO Registrar:
KFin Technologies Limited
Veekayem Fashion and Apparels Limited IPO Lead Manager(s):
GYR Capital Advisors Limited (Past IPO Performance)
Company Contact Information:
Veekayem Fashion and Apparels Limited
113, Udyog Bhavan, Sharma Ind. Estate, Walghat Road,
Goregaon East, Mumbai, India – 400 063
Mumbai
