Leo Dry Fruits And Spices IPO Day 1: Check GMP, Subscription Status, Price Band

Leo Dry Fruits and Spices Trading Ltd., known for its range of spices, dry fruits and frozen products, launched its initial public offering on the first day of New Year 2025, Jan. 1. The SME issue was fully booked on Day 1.

The company aims to mop up Rs 25.12 crore from the primary market through the issuance of 48.30 lakh shares. Investors looking to bid in the BSE SME IPO must check out these key details about the public issue before making an investment call. 

Leo Dry Fruits and Spices Trading IPO, open for bidding between Jan. 1 and Jan. 3, is a book-building offer with entirely a fresh issuance of 48.3 lakh shares. The offer size doesn't include any offer-for-sale component. The allotment of shares in the SME public offer is scheduled to be finalised on Jan. 6, followed by the credit of shares into the demat account of successful bidders on Jan. 7. Refunds for the non-allottees will also be initiated on the same day.

Shares of Leo Dry Fruits and Spices Trading Ltd. are scheduled to make their market debut on the NSE SME platform, Emerge, on Jan. 8.

The company has reserved up to 50% of the net issue for qualified institutional buyers and 35% for retail investors. Non-institutional investors have been allocated 15% of the net issue size. 

With the Leo Dry Fruits and Spices Trading IPO price band set in the range of Rs 51 to Rs 52 per share, retail investors may invest in the issue with a minimum lot size of 2,000 shares. This results in a minimum investment of Rs 1,04,000 at the upper price for a single application. 

Leo Dry Fruits and Spices Trading Ltd. has appointed Shreni Shares Ltd. as the sole book-running lead manager for its IPO, whereas Bigshare Services Pvt. is its registrar. Rikhav Securities Ltd. is the Leo Dry Fruits and Spices Trading IPO market maker.

The IPO was subscribed 3.02 times on Wednesday

• Non-Institutional Buyers: 1.47 times

• Retail Investors: 5.36 times

Leo Dry Fruits and Spices IPO saw a muted response in the unlisted market ahead of its launch. The grey market premium on the company's shares was Rs 0 at 7:27 p.m. on Jan. 1. Going by the current Leo Dry Fruits and Spices IPO GMP trends, shares of the company are likely to make a flat listing at the upper price band of Rs 52, according to InvestorGain.

 Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Leo Dryfruits and Spices Trading Ltd. is engaged in the manufacturing and trading of a variety of spices, dry fruits, ghee seasoning and other grocery products. Incorporated in 2019, the company primarily has two business verticals: trading and manufacturing and processing of spices. The company sells its products under the VANDU brand and its semi-fried products under the name FRYD. 

Leo Dry Fruits and Spices in its red herring prospectus has said that it plans to use the net proceeds from the issue to fund its working capital requirement and branding, advertisement and market activities.

A portion of the remaining funds will also be used for general corporate purposes. 

Leo Dry Fruits and Spices Trading Ltd posted a revenue of Rs 17.88 crore with a net profit of Rs 1.87 crore in the first six months of FY25. The company has shown a strong growth trajectory over the past few years, with revenues rising over 71% year-on-year to Rs 62.26 crore in FY24 from Rs 36.46 crore in FY23. Profit rose to Rs 6.63 crore in FY24 from Rs 3.63 crore in the previous fiscal. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.