Shanthala FMCG Products IPO: Issue opens for bidding; check GMP, subscription status, other key things to know

Shanthala FMCG Products IPO: The initial public offering (IPO) of Shanthala FMCG Products Ltd opened for subscription today, October 27. Investors can bid for the public issue of the FMCG products distribution company till October 31, Tuesday.

Shanthala FMCG Products IPO is an SME issue and a fixed price offer. The company plans to list its shares on the NSE SME platform.

Let us check Shanthala IPO subscription status, GMP and other details here:

Shanthala IPO: Key things to know

Shanthala IPO Dates: Shanthala FMCG Products IPO opened for subscription on October 27 and will close on October 31. The IPO allotment is expected to be finalized on November 3, 2023. The company may initiate refunds on November 6 and credit shares to the demat accounts on November 7.

Shanthala FMCG Products IPO Listing: The equity shares of Shanthala FMCG Products Ltd are proposed to be listed on NSE SME with tentative listing date fixed as November 8, 2023.

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Shanthala IPO Details: Shanthala FMCG Products IPO is a fixed price issue worth ₹16.07 crore. The IPO is entirely a fresh issue of 17.66 lakh equity shares.

Shanthala FMCG Products IPO Price Band: The IPO price has been fixed at ₹91 per share. 

Shanthala IPO Lot Size: The IPO lot size is 1,200 shares and the minimum investment amount required by retail investors is ₹109,200.

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Shanthala FMCG Products Promoters: The company’s promoters are Manjunath Mallya, Shobitha Malya, Sneha Vinayak Kudva, and Yogish Mallya.

Shanthala IPO Objectives: The company intends to utilize the net proceeds from the issue for funding additional working capital requirements and for general corporate purposes.

Shanthala IPO Manager, Registrar: First Overseas Capital Ltd is the book running lead manager for the Shanthala FMCG Products IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

Shanthala IPO GMP: Shanthala IPO GMP today, or grey market premium today, is ₹0 per share, as per market observers. This means that the company’s shares are trading at par with their issue price, without any premium or discount, in the grey market.

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Shanthala IPO Subscription Status: 

Shanthala FMCG Products IPO has been subscribed 45% so far on Friday, the first day of the bidding process. The issue received bids for 7.59 lakh equity shares as against 16.77 lakh shares on the offer, as per data available at 12:25 pm.

The public issue has been subscribed 39% in the retail category and 51% in the Non-Institutional Investors’ (NII) category so far.

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