Abram Food IPO Day 2: GMP, subscription status, price band, other details of BSE SME IPO

Abram Food IPO: The initial public offering (IPO) of Abram Food Limited opened for subscription on Tuesday, June 24. The fixed price SME IPO of about ₹14 crore is entirely a fresh issue of 14.28 lakh shares. The IPO is witnessing healthy subscription, and current grey market trends indicate the stock could be listed at a mild premium.

Abram Food IPO subscription status

By 2:45 PM on the second day of subscription, the SME IPO had been subscribed 3 times, with the retail portion booked 2.6 times and the segment reserved for non-institutional investors (NIIs) subscribed 3.43 times.

Abram Food IPO details

1. Abram Food IPO GMP: According to market sources, the latest grey market premium (GMP) of Abram Food shares was ₹8. The latest GMP indicates the stock could be listed at a premium of slightly over 8 per cent.

2. Abram Food IPO date: Abram Food IPO opened for subscription on Tuesday, June 24, and will remain open till Thursday, June 26.

3. Abram Food IPO price: The price of the SME IPO has been fixed at ₹98 per share.

4. Abram Food IPO size: The company intends to raise ₹14 crore from the issue, which it will use for the purchase of machines, funding of working capital requirements and general corporate purposes.

5. Abram Food IPO lot size: Bidders can apply in lots, and one lot of the SME IPO comprises 1,200 company shares.

6. Abram Food IPO reservation: 47.5 per cent of the issue is reserved each for non-institutional investors (NIIs) and retail investors. A little over 5 per cent of the issue is reserved for the market maker.

7. Abram Food IPO allotment date: The company is expected to finalise the share allotment on Friday, June 27. Successful bidders can expect shares of the company in their demat accounts on Monday, June 30, and bidders who fail to get the allocation may get the refund on the same day.

8. Abram Food IPO book-running lead manager and registrar: Corporate Makers Capital Ltd. is the book-running lead manager, while Kfin Technologies Limited is the registrar for the issue.

9. Abram Food IPO listing: As per SEBI's T+3 rule of IPO listing, the SME IPO is proposed for listing on the BSE SME on Tuesday, July 1.

10. Abram Food IPO business overview: The company manufactures and trades of Chana Dal, Flour (Chakki Atta), Besan, Multi Grain Atta, Maida, Sooji, Spices, Cattle Feed (Khal) and edible oils in and sell it in Rajasthan, Delhi /NCR and Uttar Pradesh under the brand name of “Kherliwala” through its distributors.

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