The shares of Freshara Agro Exports Ltd. listed at a 16 per cent premium to the issue price on Thursday, October 24, marking a respectable market debut.
In contrast to the IPO price of Rs 116 per share, Freshara Agro Exports shares opened at Rs 135 per share on the NSE SME platform, up 16.37 per cent.
Listing gain for investors
1,200 shares were the minimum amount that could be bid on in the NSE SME issue. Once the stock began trading on the NSE Emerge platform, bidders who were assigned at least one lot in the primary issue would have profited by Rs 22,800 (Rs 19 x 1,200).
Share performance after listing
Following the start of trading, 14.22 lakh shares of the company were traded on the NSE. Rs 317.24 crore was the company’s total market capitalisation. The stock rose more than 3 per cent, reaching an intraday high of Rs 140 per share after listing.
IPO size and price band
A new issue of 64.99 lakh shares was part of the Rs 75.39 crore book-building issue for Freshara Agro Exports. A price range of Rs 110 to Rs 116 per share was set for the IPO.
Minimum bid
The minimum lot size required for retail investors to apply was set at one lot, or 1,200 shares, totalling Rs 1,39,200.
Freshara Agro Exports IPO Highlights
IPO Dates: 17th to 21st October 2024
Price Band: ₹110 to ₹116 per share
Lot Size: 1,200 shares
Issue Size: ₹75.39 Crores
Retail Quota: 31.68%
Listing Date: 24th October 2024
GMP: 65% (for informational purposes only)
️Company… pic.twitter.com/9Vbeh11rkj
— MBA Investmentwala (@Aditya_Hujband) October 17, 2024
Subscription timeline and total received subscription
The three-day bidding period, which ran from October 17 to October 21,
The Freshara Agro Exports IPO’s Non-Institutional Investors (NII) quota was reserved 511.3 times. The Qualified Institutional Buyers (QIB) segment was subscribed to 129.22 times, compared to 180.8 times for the retail portion.
Use of IPO proceeds
The company intends to use the money raised from the public offering to cover its working capital and capital expenditure needs. Additionally, a portion of the proceeds will go towards financing general business needs and expenses associated with the issue.
