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