Freshara Agro IPO Day 3: Food Processor's ₹75 Crore Public Issue Receives Bids Over 200 Times; NIIs Portion Subscribed 500x

The IPO of Freshara Agro Exports Limited saw bids for more than 97.58 crore shares, compared to 41.18 lakh shares available to various investor categories. This resulted in a 236.95-fold overall subscription.

Subscription across all categories

On the final day of bidding, Monday, October 21, Freshara Agro Exports Limited's IPO saw a high level of demand from non-institutional investors (NIIs). 237 bookings were made for the NSE SME issue.

With over 511 times reservations, the NIIs demonstrated the greatest demand. This group of investors applied for almost 45.16 crore shares, while 8.83 lakh shares were set aside for them.

180.8 times as many bids were placed for the retail portion of the IPO, with over 37.23 crore shares being offered against the 20.59 lakh shares reserved for the category.

Over 15.19 crore shares were applied for by Qualified Institutional Buyers (QIBs), out of the 11.76 lakh shares that were set aside for them. A total of 129.22 bookings were made by the QIBs.

GMP of IPO

The Investorgain website states that as of 11.45 a.m. on Tuesday, October 22, the most recent grey market premium for the Freshara Agro Exports IPO was Rs 105 per share.

In comparison to the issue price of Rs 116, the GMP suggests a possible listing price of Rs 221, which would represent a premium of 90.52 per cent.

🚨 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

Issue size of IPO

The goal of the book-building Freshara Agro Exports IPO is to raise Rs 75.39 crore. The public offering consists of a brand-new 64.99 lakh share issuance.

Price band and minimum bid

The price range for the Freshara Agro IPO was set at Rs 110 to Rs 116 per share. For retail investors, a single lot of 1,200 shares, amounting to Rs 1,39,200, was the minimum application size.

However, for high-net-worth individuals (HNIs), the minimum bid amount was two lots, or 2,400 shares, totalling Rs 2,78,400.

Listing and subscription timeline

The allottees will receive shares in their Demat accounts on the same day, October 23, while refunds for those who were not accepted will begin the next day.

The IPO listing of Freshara Agro Exports is set for Thursday, October 24. The NSE SME platform Emerge will list Freshara Agro Exports' shares.

Bidding for the Freshara Agro Exports IPO took place between October 17 and October 21. On Tuesday, October 22, the IPO share allocation status is expected to be finalised following the subscription.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.