SME IPO: Aristo BioTech's public issue closes tomorrow. Check GMP, subscription details
Aristo Bio - Tech will list on the NSE Emerge platform
PremiumAristo Bio - Tech And Lifescience Limited's initial public offering (IPO) opened for public subscription on Monday, January 16, 2023, and will conclude on Thursday, January 19, 2023, and will subsequently be listed on the NSE Emerge platform. The SME issue has been overall subscribed 9.41 times as of day 2 on Tuesday, with 15.38 times bid in the retail category, and 3.45 times in the non institutional investors (NII) category.
As per market observers, Aristo BioTech shares' GMP have remained steady and are commanding a premium of ₹15 in the grey market today. The company's shares are expected to list on the NSE Emerge platform next week on Friday, January 27, 2023.
NIFTY SME EMERGE Index is designed to reflect the performance of a portfolio of eligible small and medium enterprises that are listed on NSE EMERGE platform.
The company intends to raise ₹1,305.22 lakhs by issue of 18,12,800 shares which are priced at ₹72 per share for the IPO and will be sold in lots of 1,600 shares. The HNI portion is 8,60,800 shares, which is 50 per cent of the net issue shares. The remaining 50 per cent, which is 8,60,800 is the Retail Investor portion.
Aristo Biotech an agrochemical and crop protection Company and engaged in a wide range of product categories, such as Insecticides, Herbicides, Fungicides and Plant Growth Regulators. Narendra Singh Barhat, Kusum Narendra Singh Barhat and Ketankumar Harkantbhai Joshi are the promoters of the company.
It has 182 products registered with CIB&RC and is an ISO 9000:2015 and SMERA SME3 certified company. Its state of the art agrochemical and pesticide formulation & packaging unit is located in Vadodara, Gujarat and has the latest quality control, manufacturing and packaging machinery and equipments. It supplies its products across 20 states in India and 15 countries.
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