Nirman Agri Genetics IPO opens for subscription. GMP, key things to know
1 min read . Updated: 15 Mar 2023, 12:11 PM IST
Premium- Nirman Agri Genetics IPO has opened for public subscription
Nirman Agri Genetics Ltd's initial public offering (IPO) has opened for public subscription on Wednesday, March 15, 2023 and the issue will be open for bidding till Monday, March 20. The price of the initial share sale has been fixed at ₹99 per share.The SME company aims to raise 20.30 crore from its initial offer through issuance of 2,050,800 fresh shares.
According to market observers, shares of Nirman Agri Genetics Ltd are available in the grey market at a discount of ₹3 today, down from premium in previous sessions. The shares of the company are expected to list on NSE SME platform on March 28, 2023. Bigshare Services Pvt Ltd has been appointed as official registrar of the public issue.
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 proposes to utilize the net proceeds from the fresh issue towards funding additional Working capital requirements, investment in Strategic Acquisition / Joint Venture, purchase of Computer and other hardware and other general corporate purposes.
A bidder will be able to apply in lots and one lot comprises 1200 company shares, whereas a retail bidder can apply for minimum one lot and maximum one lot.
Incorporated in 2020, Nirman Agri Genetics Limited is an organized Agri-Input Company in India. The company is in the business of production, processing, and marketing of high-quality hybrid seeds, Pesticides, and Bio-organic. These processes are used for different crops like corn, sunflower, cotton, paddy, grain sorghum, etc. Pranav Kailas Bagal is the Promoter of the company.
