Hariom Atta & Spices IPO Makes Strong Debut On SME Platform
Date
5/24/2024 2:18:38 PM
(MENAFN- KNN India) New Delhi, May 24 (KNN) Hariom Atta & Spices Ltd., a leading food products company, witnessed a robust market debut for its initial public offering (IPO) on the National Stock Exchange's SME platform today.
The company's shares commenced trading at Rs 147 apiece, marking a substantial premium of 206 per cent over the issue price of Rs 48.
While the listing surpassed expectations, it fell short of the grey market premium estimates, which had projected a premium exceeding 300per cent.
The Rs 5.54 crore IPO consisted entirely of a fresh issue of 11.55 lakh equity shares.
The public issue garnered remarkable investor interest, with the overall subscription figure exceeding 2,000 times.
Notably, retail individual investors exhibited strong demand, subscribing to their allotted quota a staggering 2,556 times.
Non-institutional investors also participated actively, subscribing to their reserved portion 1,433 times.
The company intends to utilise the proceeds from the IPO to fund its working capital requirements and support general corporate purposes. The price band for the public issue was set at Rs 48 per equity share.
Hariom Atta & Spices Ltd. has established itself as a prominent player in the food products industry, offering a diverse range of offerings catering to consumer preferences across segments.
(KNN Bureau)
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