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 Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-19 | 11789.3 | 20317.36 | 228.31 | 2973.17 | 2331.38 |
| 31-Mar-20 | 12090.4 | 21571.46 | 109.1 | 2869.65 | 2440.48 |
| 31-Mar-21 | 12351.95 | 7670.06 | 35.25 | 2904.9 | 2475.73 |
| 31-Mar-22 | 13267.19 | 14947.02 | 188.54 | 3095.28 | 2666.11 |
| Amount in ₹ Lakhs |
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 IPO Details
| Veekayem Fashion and Apparels IPO Date | Aug 5, 2022 to Aug 11, 2022 |
| Veekayem Fashion and Apparels IPO Face Value | ₹10 per share |
| Veekayem Fashion and Apparels IPO Price | ₹28 per share |
| Veekayem Fashion and Apparels IPO Lot Size | 4000 Shares |
| Issue Size | 1,584,000 shares of ₹10 (aggregating up to ₹4.44 Cr) |
| Fresh Issue | 1,584,000 shares of ₹10 (aggregating up to ₹4.44 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Retail Shares Offered | 50% of the net offer |
| NII (HNI) Shares Offered | 50% of the net offer |
| Company Promoters | Krishankant Gupta, Vijaykumar Gupta and Madanlal Gupta are the company promoters. |
Veekayem Fashion and Apparels IPO Timeline
Veekayem Fashion and Apparels IPO opens on Aug 5, 2022, and closes on Aug 11, 2022. The Veekayem Fashion and Apparels IPO bid date is from Aug 5, 2022 10.00 A.M. to Aug 11, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Veekayem Fashion and Apparels IPO Opening Date | Aug 5, 2022 |
| Veekayem Fashion and Apparels IPO Closing Date | Aug 11, 2022 |
| Basis of Allotment | Aug 17, 2022 |
| Initiation of Refunds | Aug 18, 2022 |
| Credit of Shares to Demat | Aug 19, 2022 |
| Veekayem Fashion and Apparels IPO Listing Date | Aug 22, 2022 |
Veekayem Fashion and Apparels IPO Lot Size
The Veekayem Fashion and Apparels IPO lot size is 4000 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or ₹112,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 4000 | ₹112,000 |
| Maximum | 1 | 4000 | ₹112,000 |
Veekayem Fashion and Apparels IPO Promoter Holding
| Pre Issue Share Holding | 54.31% |
| Post Issue Share Holding | 39.67% |
Veekayem Fashion and Apparels IPO Prospectus
Company Contact Information
Veekayem Fashion and Apparels Limited
113, Udyog Bhavan,
Sharma Ind. Estate, Walghat Road,
Goregaon East, Mumbai, India – 400 063
Phone: +91 22 4035 1481
Email: cs@vkmgroups.biz
Website: https://www.vkmgroups.com/
Veekayem Fashion and Apparels IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: veekayem.ipo@kfintech.com
Website: https://karisma.kfintech.com/