Abram Food IPO: Check Latest GMP, Day One Subscription Status, Price Band And More
Abram Food IPO is a fixed price issue worth Rs 13.99 crore. The IPO price has been set at Rs 98 per share.
Abram Food Ltd. launched an initial public offering (IPO) on Tuesday to raise around Rs 14 crore from the primary market. It is a Fast-Moving Consumer Goods (FMCG) company primarily engaged in the manufacturing and supply of edible oil, grains, flours and spices. Investors who want to bid for shares in the BSE SME IPO must learn the following details.
Abram Food IPO: Key Details
Abram Food IPO is a fixed price issue worth Rs 13.99 crore. It comprises entirely a fresh issue of 14.28 lakh shares.
Retail investors can invest in the IPO by bidding for a single lot size of 1,200 shares, requiring an investment of Rs 1,17,600. High Net-Worth Individuals (HNIs) can invest by bidding for two lots comprising 2,400 shares. It will amount to an investment of Rs 2,35,200.
The price for the IPO has been fixed at Rs 98 per share.
The company has reserved 47.48% of the net issue for High Net-Worth Individuals (NIIs) and the retail bidders each. The market maker portion comprises 5.04% of the net offer size.
Corporate Makers Capital Ltd. is the book-running lead manager of the Abram Food IPO. Kfin Technologies Ltd. is the registrar and Giriraj Stock Broking Pvt. is the market maker for the issue.
Investors can participate in the IPO from June 24 to June 26. The IPO share allotment status is scheduled to be finalised on June 27. Successful bidders are expected to receive shares in their Demat accounts on June 30. Refunds will be initiated for non-allottees on the same day as well.
Shares of Abram Food Ltd. are tentatively scheduled to be listed on the BSE SME platform on July 1.
Abram Food IPO Subscription Status
The Abram Food IPO has subscribed 0.17 times as of 11:20 a.m. on Tuesday, as per market tracking site Chittorgarh.
Non-Institutional Investors: 0.09 times
Retail Investors: 0.25 times
*The subscription status will be updated at regular intervals
Abram Food IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for the Abram Food IPO was Rs 9 as of 10:00 a.m. on June 24. The GMP indicates listing of shares at Rs 107 apiece, at a premium of 9.18% over the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
Abram Food: Business And Financials
Abram Food is an FMCG company whose products include rock salt, black salt, jeera, flour and soyabean oil. It was incorporated in 2009.
Use Of Proceeds
The company will use proceeds from the IPO to buy machinery, fund working capital requirements and general corporate purposes.
Financials
The company’s profit after tax (PAT) jumped 219.6% year-on-year (YoY) to Rs 3.26 crore in FY25 from Rs 1.02 crore in FY24. Revenue from operations rose 77.9% YoY to Rs 64.04 crore in FY25 from Rs 36 crore in FY24.
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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.
