Vandan Foods IPO Opens For Subscription: GMP To Price Band — Key Details To Know
Vandan Foods Ltd. aims to raise Rs 30.36 crore through the IPO. The BSE SME IPO listing has been scheduled for July 7.
Vandan Foods Ltd. launched its initial public offering on Monday to raise over Rs 30 crore from the primary market. The company is a manufacturer of castor oil. Investors can check the following details before deciding to invest in this issue.
Vandan Foods IPO: Key Details
The Vandan Foods IPO is a fixed price issue of Rs 30.36 crore. The BSE SME issue comprises entirely a fresh issuance of 26.4 lakh shares.
The IPO price has been fixed at Rs 115 per share.
Retail investors can participate in the IPO by bidding for a single lot size of 1,200 shares, requiring an investment of Rs 1,38,000. High-Net-Worth Individuals must bid for two lots, amounting to an investment of Rs 2,76,000.
Retail investors and Non-Institutional Investors will be allocated 47.5% of the shares.
Nirbhay Capital Services Pvt. is the book-running lead manager of the Vandan Foods IPO. Bigshare Services Pvt. is the registrar and Aftertrade Broking Pvt. is the market maker for the issue.
The subscription window for the issue is open from June 30 to July 2. The allotment of shares is expected to be finalised on July 3. The company will transfer shares to the Demat accounts of successful bidders on July 4 and refunds for non-allottees will be initiated on the same day.
Shares of the company are tentatively scheduled to be listed on the BSE SME platform on July 7.
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Vandan Foods IPO Subscription Status
The Vandan Foods IPO has been subscribed 0.03 times as of 11:15 a.m. on Monday, as per the market tracking site Chittorgarh.
Non-Institutional Investors: 0.0 times
Retail Investors: 0.05 times
*The subscription status will be updated at regular intervals.
Vandan Foods IPO GMP Today
According to InvestorGain, the grey market premium for the Vandan Foods IPO stood at Rs 20 apiece as of 10:30 a.m. on Monday. This indicates that the shares of Vandan Foods may list at Rs 135 apiece, at a premium of 17.39%.
Note: GMP does not represent official data and is based on speculation.
Vandan Foods Business And Financials
The Gujarat-based company is primarily engaged in the business of making castor oil and other products related to it.
Use Of Proceeds
The company will use proceeds from the IPO to meet working capital requirements, clear debt, fund capex and for general corporate purposes.
Financials
The company reported a 312.5% year-on-year increase in profit after tax to Rs 2.64 crore in FY24 from Rs 64.28 lakh in FY23. Revenue from operations rose 320.4% YoY to Rs 48.73 crore in FY24 from Rs 11.59 crore in FY23.
For the nine months ended Dec. 31, 2024, it reported a net profit of Rs 4.54 crore and revenue from operations of Rs 72.66 crore.
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.
