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Business News/ Markets / Ipo/  Italian Edibles share price makes a weak debut, stock opens with 19% discount at 55 on NSE SME

Italian Edibles share price makes a weak debut, stock opens with 19% discount at ₹55 on NSE SME

Italian Edibles share price makes weak debut on NSE SME, listed at ₹55.

Italian Edibles share price lists on NSE SME today. (
Italian Edibles share price lists on NSE SME today. (

Italian Edibles IPO listing price: Italian Edibles share price made a weak debut on NSE SME today. On NSE SME, Italian Edibles share price was listed at 55, which is 19.12% lower than the issue price of 68.

Italian Edibles Limited IPO price band was set at 68 apiece. Italian Edibles IPO opened for subscription on Friday, February 02, and closed on Wednesday, February 07. Italian Edibles IPO lot size consisted of 2,000 shares. Investors could bid for a minimum of 2,000 shares and in multiples thereof. The issue price was 6.8 times the face value of 10.

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Also Read: Italian Edibles IPO allotment finalised today; GMP steady, steps to check Italian IPO allotment status

The company's draft red herring prospectus (DRHP) states that for the past 14 years, the Italian Edibles has been making delicious candy products. The brand name "Ofcourse" is used to market the company's confectionery items. The company offers a variety of confections to its consumers, including candy, jelly candies, multi-grain puff rolls, lollipops, milk paste, chocolate paste, and Rabdi [Meethai Sweet]. The company's two functioning production units are situated in Madhya Pradesh's Gramme Palda and Prabhu Toll Kanta.

Italian Edibles IPO details

Italian Edibles IPO comprises a fresh issue of 39,20,000 equity shares aggregating to 26.66 crore. This is a completely a fresh issue, and there is no offer-for-sale component.

The company intends to use the net funds from the offering for the following purposes: setting up the planned manufacturing unit; paying back certain loans; covering increased working capital needs; and general corporate expenses.

Italian Edibles IPO's sole book running lead manager (BRLM) is First Overseas Capital Ltd.

Also Read: Italian Edibles IPO announces price band at 68 apiece; check issue details, key dates, more

Italian Edibles IPO GMP today

Italian Edibles IPO GMP or grey market premium is +12, similar to previous two sessions. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Italian Edibles share price was indicated at 80 apiece, which is 17.65% higher than the IPO price of 68, as per analysts.

Based on last 15 sessions grey market activities, today IPO GMP points upward and expects a strong listing. The lowest GMP is 0, while the highest GMP is 20, as per analysts.

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

Also Read: Apeejay Surrendra Park Hotels IPO listing date today. Experts predict up to 25% listing gain for share allottees

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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Published: 12 Feb 2024, 10:08 AM IST
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