Dindigul Farm share price makes a stellar debut, stock opens with 90% premium at ₹102.60 apiece on BSE SME

Dindigul Farm share price made a bumper debut on BSE SME today. Dindigul Farm share price opened at ₹102.60, which is 90% higher than the issue price of ₹54.

Subscriptions for the Dindigul Farm Product IPO opened on Thursday, June 20, and ended on Monday, June 24. Shares in the Dindigul Farm IPO lot size were 2,000. On the last day of bidding, Dindigul Farm IPO subscription status was 202.35 times. The pricing range for the Dindigul Farm initial public offering (IPO) was set at ₹51 to ₹54 for each equity share, with a face value of ₹10.

The firm was established in 2010 and makes dairy products such dairy whitener, skim milk powder, and milk protein concentrates by processing whole and skim milk.

Dodla Dairy Ltd. (P/E of 29.36), Parag Milk Foods Ltd. (P/E of 11.55), and Modern Dairies Ltd. (P/E of 3.61) are the company's listed rivals.

Also Read: Dindigul Farm Product IPO allotment likely to be out today; Latest GMP, steps to check status

Dindigul Farm IPO details

The Dindigul Farm IPO, worth ₹34.83 crore, consists of a fresh issuance of 6,450,000 equity shares at face value of ₹10. There is no offer-for-sale component.

The proceeds from the fresh issuance will be used for capital expenditure, working capital requirements, and general company purposes.

Beeline Capital Advisors Pvt Ltd is the book running lead manager for the Dindigul Farm IPO, while Link Intime India Private Ltd is the registrar. Spread X Securities is the market maker for the Dindigul Farm IPO.

Also Read: Dindigul Farm IPO booked over 202x on third bidding day on strong retail, NII demand; check GMP, other key details.

Dindigul Farm IPO GMP today

Dindigul Farm IPO GMP or grey market premium is +68. This indicates Dindigul Farm share price were trading at a premium of ₹68 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, Dindigul Farm IPO expected listing price was indicated at ₹122 apiece, which is 125.93% higher than the IPO price of ₹54.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Medicamen Organics IPO allotment in focus today: latest GMP, step-by-step guide to check status

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