NAPS Global India Ltd is launching its IPO, attracting the attention of investors looking for potential growth opportunities. However, for Muslim investors, an essential question arises, Is NAPS Global India Ltd IPO Halal and Shariah-Compliant?
In this article, we analyze the company’s business activities and financials to determine whether it meets Shariah compliance standards.
Business Overview of NAPS Global India Ltd
Incorporated in 2014, NAPS Global India Ltd (NGL) operates in the textile trading industry. The company imports fabrics and supplies them to garment manufacturers across India.
NGL is a wholesale importer of textile products and a key player in Maharashtra’s garment manufacturing supply chain. It imports cotton and man-made fabrics in bulk from China and Hong Kong, ensuring a timely supply to garment vendors.
Operating on a B2B (Business-to-Business) model, the company sources fabrics based on customer requirements, offering trendy colors, designs, materials, and quality. While textile trading is generally permissible (Halal) in Islam, the company must also meet financial Shariah compliance standards to be considered a Halal investment.
Also Read : Is ONGC Limited Stock Halal or Not in 2025?
Shariah Compliance Screening of NAPS Global India Ltd.
For an IPO to be considered Halal, it must pass key Shariah screening criteria, which include:
| Criteria | Value | Status |
| Business Activity | Trading | ✅ PASS |
| Impermissible Income to Total Revenue | 0.74% (Less than 5%) | ✅ PASS |
| Interest-Bearing Debt to Total Assets | 12.54% (Less than 33%) | ✅ PASS |
| illiquid Assets to Total Assets Ratio | 12.8% (Atleast 20%) | ❌ FAIL |
| Net Liquid Assets vs Market Capitalisation | Compliant as per Shariah principles | ✅ PASS |
| Non-Compliant Investments to Total Assets | Less than 33% (Compliant) | ✅ PASS |
Upon reviewing the available financial data, NAPS Global India Ltd IPO does not fully meet Shariah compliance requirements, making it Not Halal and Not Shariah-Compliant.
Listing Details of NAPS Global India Ltd. IPO
| IPO Opening Date | Tuesday, March 04, 2025 |
| IPO Closing Date | Thursday, March 06, 2025 |
| Expected Allotment Date | Friday, March 07, 2025 |
| Refund Initiation | Monday, March 10, 2025 |
| Shares Credited to Demat | Monday, March 10, 2025 |
| Expected Listing Date | Tuesday, March 11, 2025 |
| UPI Mandate Confirmation Deadline | 5 PM on March 06, 2025 |
NAPS Global India Limited Financial Information (Restated Consolidated)
| Category | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | ₹15.94 Cr | ₹11.73 Cr | ₹6.52 Cr | ₹4.63 Cr |
| Revenue | ₹52.83 Cr | ₹47.88 Cr | ₹26.01 Cr | ₹13.48 Cr |
| Profit After Tax | ₹1.53 Cr | ₹1.45 Cr | ₹0.27 Cr | ₹0.18 Cr |
| Net Worth | ₹5.34 Cr | ₹3.81 Cr | ₹1.1Cr | ₹0.83 Cr |
| Reserves & Surplus | ₹2.23 Cr | ₹0.7 Cr | ₹1.09 Cr | ₹0.82 Cr |
| Total Borrowing | ₹1.68 Cr | – | ₹0.12 Cr | ₹0.22 Cr |
Conclusion: Should You Invest?
Based on our screening process, NAPS Global India Ltd IPO is not Halal and does not comply with Shariah investment guidelines (Allah Knows the Best). Investors should exercise caution and conduct their own due diligence before making any financial decisions.
Key Takeaway: If you are looking for 100% Halal investment opportunities, this IPO may not be suitable for you.
Disclaimer: The information provided on halalfinance.co.in is for educational purposes only and should not be considered financial advice. Always consult a financial expert before making investment decisions.
Hasan is the founder of HalalFinance.co.in, created after personally struggling to find reliable answers about halal investing in stocks. With a finance background and a passion for helping the Muslim community, He now shares well-researched, transparent, and authentic content to empower Muslims on their path to halal wealth-building.