NAPS Global India, a Mumbai-based textiles importer, saw a 21% subscription on March 4, the first day of its Initial Public Offering (IPO). The company aims to raise ₹11.88 crore through a public issue at ₹90 per share. The IPO proceeds will be used for working capital and corporate purposes.
Mumbai-based textiles importer NAPS Global India saw a 21% subscription on the first day of its Initial Public Offering (IPO) on March 4, 2025. The IPO, which will remain open until March 6, 2025, aims to raise ₹11.88 crore through a public issue at a fixed price of ₹90 per share.
According to BSE data, investors subscribed to 2.83 lakh shares on the first day out of the total 13.2 lakh shares on offer, with 128 applications received.
About NAPS Global India
NAPS Global India is a textile importer that sources cotton and man-made fabrics in bulk from manufacturers in China and Hong Kong. The company supplies these raw materials to vendors of garment manufacturing firms in Maharashtra, catering to the growing demands of the Indian textile industry.
IPO Details and Fund Utilization
The ₹11.88 crore public issue consists of a fresh issue of 13.2 lakh shares. The company plans to utilize the IPO proceeds for:
- Working capital requirements
- General corporate purposes
Merchant Banker & Market Performance
Aryaman Financial Services is acting as the merchant banker for the IPO. Analysts believe the subscription trend may improve in the coming days as investors evaluate the company’s prospects in the competitive textile import sector.
With two more days left in the bidding process, NAPS Global India’s IPO performance will be closely watched to gauge investor confidence in the textile industry’s growth.
