NR Vandana Textile IPO ends today; subscription rises 16x, GMP up 31%

NR Vandana Textile IPO GMP today: The unlisted shares of NR Vandana Tex Industries (NR Vandana Textile), whose initial public offering (IPO) is set to close for subscription today, commanded a strong premium on Friday, May 30, 2025.

 

Sources tracking unofficial market activities revealed that NR Vandana Textile shares were trading at ₹59 apiece, reflecting a grey market premium (GMP) of ₹14 or 31.11 per cent against the upper end of the IPO price band of ₹45.

NR Vandana Textile IPO subscription status

NR Vandana Textile IPO has so far received a strong response from investors, being subscribed around 15.79 times as of 12:10 PM on Friday, May 30, according to NSE data.

 

NR Vandana Textile IPO details

The ₹27.89-crore SME offering, which comprises an entirely fresh issue of 6.2 million equity shares, is available at a price band of ₹42–45 per share, with a lot size of 3,000 shares. Notably, NR Vandana Textile IPO does not have any offer for sale (OFS) component.

 

As the subscription window closes today, the basis of allotment is likely to be finalised on Monday, June 2, 2025. Successful allottees will receive the company’s shares in their demat accounts on Tuesday, June 3, 2025.

 

NR Vandana Textile shares are expected to list on the NSE SME platform on Wednesday, June 4, 2025.

 

Cameo Corporate Services is the registrar for the NR Vandana Textile IPO, while Marwadi Chandarana Intermediaries is the sole book-running lead manager of the public issue.

NR Vandana Textile IPO objective

According to the Red Herring Prospectus (RHP) filed by the company, NR Vandana Textile will utilise the net proceeds from the IPO for funding working capital requirements, prepayment/repayment of loans, as well as for general corporate purposes.

About NR Vandana Tex Industries

NR Vandana Tex Industries is engaged in the designing, manufacturing, and wholesale business of cotton textile products, including a variety of high-quality cotton sarees, salwar suits, and bed sheets. The company’s products are recognised in the textile industry under its own brand names ‘Vandana’ and ‘Tanaya’. The company has been awarded 'Best Debutant – Apparels' by Ajio Business Partnership Meet – 2022, according to the RHP.

 

NR Vandana Tex Industries operates under a B2B business model, focusing on selling its products through a network of 1,397 wholesalers as of March 31, 2025, spread across 31 states and union territories in India, and through a channel of B2B e-commerce platforms.