Veekayem Fashion and Apparels IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 16, 2022Let’s have a detailed review of the company and analytics of the Veekayem Fashion and Apparels IPO release date, IPO offer price, subscription, Veekayem Fashion and Apparels Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs. 28 each |
| Listing At | NSE SME |
| Min. Order Quantity | 4000 Shares |
| Listing Date | Aug 22, 2022 |
| Offer for Sale | Rs Lakhs |
| Fresh Issue | Rs 443.52 Lakhs |
| IPO Size | Rs 443.52 Lakhs |
| Tick Size | 1 |
Veekayem Fashion and Apparels IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Veekayem Fashion and Apparels IPO – Summary
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.
The Promoters of this company are Krishankant Gupta, Vijaykumar Gupta and Madanlal Gupta. The lead manager to the issue is GYR CAPITAL ADVISORS PRIVATE LIMITED, and the Registrar to this issue is KFIN TECHNOLOGIES LIMITED.
Veekayem Fashion and Apparels IPO Date
The opening and the closing date of Veekayem Fashion and Apparels IPO are Aug 5, 2022 to Aug 11, 2022.
Veekayem Fashion and Apparels IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 5th Aug | 0.17x | 2.36x | 1.26x |
| 2nd Day – 8th Aug | 1.72x | 34.68x | 18.20x |
| 3rd Day – 10th Aug | 46.38x | 113.31x | 79.84x |
| 4th Day – 11th Aug | 355.85x | 247.09x | 301.47x |
| Shares Offered or Net Issue | 752,000 | 752,000 | 1,504,000 |
The shares subscribed by the public will be updated here.
Veekayem Fashion and Apparels IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Veekayem Fashion and Apparels Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Aug 17, 2022 |
| Refunds Initiation | Aug 18, 2022 |
| Credit of Shares to Demat Account | Aug 19, 2022 |
| Share Listing Date | Aug 22, 2022 |
Veekayem Fashion and Apparels IPO Price Band
The face value of each share is Rs.10, but the price of the IPO is Rs.28 each.
Veekayem Fashion and Apparels IPO Equity Size
This Initial Public Issue of 4000 Equity Shares of Rs.10 each for cash at a price of Rs.28 per equity share aggregating to Rs.443.52 Lakhs.
Veekayem Fashion and Apparels IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 15,04,000 Equity Shares of Rs.10/ each.
Issue Size: 15,84,000 Equity Shares of Rs.10 each, aggregating to Rs. 443.52 Lakh
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Veekayem Fashion and Apparels IPO – Live Performance
The listing date of this IPO is Aug 22, 2022. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Veekayem Fashion and Apparels Share Price |
Veekayem Fashion and Apparels IPO Grey Market Premium
The Veekayem Fashion and Apparels Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is 15000.
Veekayem Fashion and Apparels IPO – Company Overview
They are engaged in the business of weaving and garment manufacturing. They are majorly engaged in the business of manufacturing for various brands, however, they also cater to exports and local markets in customized designs as requested by their clients and customers in the textile and apparel industry.
Their Company deals in a range of products like Shirting fabrics, Suiting Fabrics, Trouser fabrics, jacketing fabrics, format trousers, cotton trousers and other accessories etc. Their extensive product portfolio of 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.
Veekayem Fashion and Apparels IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | |||
| 31-Mar-22 | 30-Mar-21 | 31-Mar-20 | |
| Total Assets | 13,267.19 | 12,351.95 | 12,090.40 |
| *Total Revenue | 14,947.02 | 7,670.06 | 21,571.46 |
| Total Expense | 14,793.99 | 7,619.36 | 21,414.97 |
| Profit After Tax | 188.54 | 35.25 | 109.10 |
Earnings per Equity Share (in Lakh)
| 31-Mar-22 | 30-Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 4.39 | 0.82 | 2.54 |
Further, their PAT for the period ended on 31-Mar-22 ,30-Mar-21, and 31-Mar-20, were Rs. 188.54 Lakh, Rs. 35.25 Lakh, and Rs. 109.10 Lakh respectively.
Veekayem Fashion and Apparels IPO – Promoters
The Promoter of this company is:
- Krishankant Gupta
- Vijaykumar Gupta
- Madanlal Gupta
List of Related Parties (Key Managerial Personnel)
- Krishankant Gupta, Chairman & Managing Director
- Vijaykumar Gupta, Whole Time Director
- Madanlal Gupta, Non-Executive Director
- Madhukar Sharma, Independent Director
- Santwana Vernekar, Independent Director
Veekayem Fashion and Apparels IPO – Promoters Holding
- Pre Issue Share Holding – 54.31%
- Pos Issue Share Holding – 39.67%
Veekayem Fashion and Apparels IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 1,584,000 Equity Shares aggregating up to Rs.443.52 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 80,000 Equity Shares aggregating up to Rs. 22.40 Lakh |
| Net Issue to the Public | Up to 1,504,000 Equity Shares aggregating up to Rs.421.12 Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 50% Equity Shares |
| Other than Retail Individual Investors | Not more than 50% Equity Shares |
| Equity Shares outstanding prior to the Issue | 42,91,730 Equity Shares |
| Equity Shares outstanding after the Issue | 58,75,730 Equity Shares |
Veekayem Fashion and Apparels IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Funding the working capital requirements of the company
- General Corporate Purposes
Veekayem Fashion and Apparels IPO – Business Strategy
- To introduce value-added products
- Improving & maintaining functional efficiencies
- Cost-effectiveness
- Maintain their focus to strengthen customer relationship
- Enhance customer base by entering new geographies to establish long-term relationships
- Enhance product quality
- Maintain a healthy working capital management
- To build up a professional organization
Veekayem Fashion and Apparels IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Consistency in Quality and Service Standards
- Scalable Business Model
- Product Mix and Market Mix
- Cost-effective production and timely fulfillment of orders
- Experienced management and dedicated employee base
- Wide sales and distribution network
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 4.39 | 6.09 | 72.12 |
| 30-Mar-21 | 0.82 | 1.21 | – |
| 31-Mar-20 | 2.54 | 3.80 | – |
Veekayem Fashion and Apparels IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Veekayem Fashion and Apparels Limited | 10 | 6.37 | 4.39 | 6.09 | 14,947.02 |
| Listed Peers | |||||
| Page Industries Limited | 10 | 96.03 | 481.03 | 49.28 | 3,90,744.14 |
| Indian Terrain Fashions Limited |
2 | – | (0.54) | (1.12) | 34,364.00 |
Veekayem Fashion and Apparels IPO Lead Managers
| Lead Managers |
| GYR CAPITAL ADVISORS PRIVATE LIMITED 428, Gala Empire, Near JB Tower, Drive in Road, Thaltej, Ahmedabad -380 054, Gujarat, India. Telephone: +91 87775 64648 Fax: N.A. E-mail: info@gyrcapitaladvisors.com Website: www.gyrcapitaladvisors.com Investor grievance: compliance@gyrcapitaladvisors.com Contact Person: Mohit Baid SEBI Registration Number: INM000012810 |
Veekayem Fashion and Apparels IPO Registrar to offer
| Registrar to the Offer |
| KFIN TECHNOLOGIES LIMITED (Formerly known as Kfin Technologies Private Limited) Selenium Tower-B, Plot 31 & 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad – 500 032, Telangana Contact Person : M Murali Krishna Tel: +91 40 6716 2222 Fax: +91 40 2343 1551 Email: veekayem.ipo@kfintech.com Investor grievance e-mail: einward.ris@kfintech.com Website: www.kfintech.com SEBI Registration No. : INR000000221 |
Veekayem Fashion and Apparels IPO – Other Details
- Statutory Auditor – M/s. Mittal & Associates
- Legal Counsel to the Company – Chir Amrit Corporate LLP
- Bankers to the Company – The Cosmos Co-op. Bank Limited
Veekayem Fashion IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Veekayem Fashion Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Veekayem Fashion and Apparels IPO Review FAQs
Check out various FAQs related to Veekayem Fashion and Apparels IPO:
What is the Issue Size of Veekayem Fashion and Apparels IPO?
The Company is making an initial public offer of 1,584,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and the net issue.
What is the Price band of Veekayem Fashion IPO?
The price band for this particular IPO ranges Rs.28. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Veekayem Fashion IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Aug 5, 2022, while the closing date is set at Aug 11, 2022.
What is the Veekayem Fashion IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Aug 17, 2022, refund initiation is on Aug 18, 2022, credit of shares is on Aug 19, 2022, and share listing date is on Aug 22, 2022.
What is the Veekayem Fashion and Apparels IPO Listing Date?
Shares of this company shall be listed in the exchanges Aug 22, 2022. The date, when the listing would be done, is stagnant on Aug 22, 2022.
Who is the Registrar of Veekayem Fashion IPO?
One of the reputed registrars is managing the issue of this IPO, KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Veekayem Fashion IPO?
Here are the promoters of this IPO – Krishankant Gupta, Vijaykumar Gupta and Madanlal Gupta. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is GMP of Veekayem Fashion IPO?
They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Veekayem Fashion and Apparels IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Veekayem Fashion and Apparels Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the period ended on 31-Mar-22 ,30-Mar-21, and 31-Mar-20, were Rs. 188.54 Lakh, Rs. 35.25 Lakh, and Rs. 109.10 Lakh respectively.
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