Sameera Agro IPO Day 3: Issue subscribed 2.92 times on last day, check GMP, subscription status

The initial public offering (IPO) for Sameera Agro And Infra Limited opened for subscription period on December 21, 2023, and closed on December 27, 2023.

The company had fixed the issue price at ₹180 per piece. Investors can submit bids for a minimum of 800 equity shares or in multiples thereof, amounting to a minimum of ₹1,44,000. Retail investors have the option to bid for a single lot of 800 equity shares, while non-retail investors must bid for a minimum of two lots (1,600 equity shares), totaling at least ₹2,88,000.

Previously known as Sameera Homes, Sameera Agro and Infra was established in 2002, specializing in infrastructure development and construction. As part of its expansion, Sameera Agro and Infra has diversified its operations to include the processing, drying, sale, purchase, marketing, and distribution of agricultural commodities, such as pulses, cereals, grains, and lentils.

Sameera Agro IPO details

Sameera Agro IPO is a fixed price issue of ₹62.64 crores and is entirely a fresh issue of 34.8 lakh shares. 

The allotment for the Sameera Agro IPO is expected to be finalized on Thursday, December 28, 2023. Sameera Agro IPO will list on NSE SME with tentative listing date fixed as Monday, January 1, 2024.

First Overseas Capital Limited is the book running lead manager of the Sameera Agro IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Sameera Agro IPO is Svcm Securities.

The proceeds generated from the IPO will be distributed across diverse purposes, encompassing ongoing project construction, the establishment of a new multiplex, addressing working capital needs for the agro-business, and managing general corporate expenses. 

Sameera Agro IPO subscription status

Sameera Agro IPO was subscribed 2.92 times on the final day of bidding. The issue received positive response from retail investors who's portion set was subscribed 4.14 times, and non-institutional buyers who's portion was subscribed 1.7 times, according to data on chittorgarh.com.

On the second day of bidding, the issue was subscribed over 1.76 times and received 61,17,600 applications. According to data available on NSE, the retail portion received 38,20,800 applications, while NII and QIB got 22,93,600 and 3,200 bids respectively. 

On the first day, the subscription for the offering stood at 27%, experiencing a notable surge to 90% by the second day of the bidding process.

Sameera Agro IPO GMP Today

Sameera Agro IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹180 with no premium or discount in the grey market according to investorgain.com.

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

Sameera Agro IPO review

Dilip Davda, the contributing editor at Chittorgarh said, “The company is operating in highly competitive and fragmented segments of infra and agro business. It posted a boost in its top and bottom lines from FY23 onwards with major thrust on agro commodities. Based on FY24 annualized super earnings, the issue appears fully priced. There is no harm in skipping this “High Risk/Low Return” bet,” while giving ‘Avoid’ tag to the issue.