Khyati Global Ventures Debuts On BSE SME At 6.1% Premium
Date
10/11/2024 2:10:39 PM
(MENAFN- KNN India)
New Delhi, Oct 11 (KNN) Khyati Global Ventures made its debut on the BSE SME platform on October 11, with shares opening at Rs 105, marking a modest 6.1 percent premium over the issue price of Rs 99 per share.
The company's initial public offering (IPO) raised Rs 18 crore through a combination of fresh issue and offer for sale.
The public offer received a lukewarm response, with an overall subscription of 15 times. Retail investors showed the most interest, subscribing to over 25 times their allotted portion.
Non-institutional investors participated at 5 times their quota, while qualified institutional buyers abstained from the IPO entirely.
Khyati Global Ventures Limited, which rebranded from its former identity as Khyati Advisory Services Limited, has been in operation since its incorporation in 1993.
The company specialises in exporting and repacking a diverse range of FMCG products, including food and non-food items, household products, festive handicrafts, and pharmaceutical goods.
The net proceeds from the IPO are earmarked for bolstering the company's working capital requirements and general corporate purposes.
Aryaman Financial Services Limited served as the book-running lead manager for the offering, with Bigshare Services Pvt Ltd acting as the registrar and Aryaman Capital Markets as the market maker.
The IPO's price band was fixed at Rs 99 per share. The company's promoters include Ramesh Rughani, Chandrika Rughani, Khyati Rughani, Aditi Raithatha, and Hiren Raithatha.
(KNN Bureau)
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