Sheetal Universal IPO Day 3: Issue subscribed 179.20 times on final day; NIIs steal the show | Mint
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Business News/ Markets / Ipo/  Sheetal Universal IPO Day 3: Issue subscribed 179.20 times on final day; NIIs steal the show
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Sheetal Universal IPO Day 3: Issue subscribed 179.20 times on final day; NIIs steal the show

Sheetal Universal IPO opened for subscription on December 4 and closed today (December 6). The SME IPO is a fixed price issue of ₹23.80 crore and and entirely a fresh issue of 34 lakh shares.

Sheetal Universal IPO price band has been set at ₹70. Investors can bid for a minimum of 2,000 shares and in multiples thereof.Premium
Sheetal Universal IPO price band has been set at 70. Investors can bid for a minimum of 2,000 shares and in multiples thereof.

Sheetal Universal IPO: The initial public offering (IPO) of Sheetal Universal Ltd that opened for subscription on Monday, December 04, and closed today, December 6. Sheetal Universal IPO is an SME IPO and has received stellar demand from investors.

Sheetal Universal Ltd sources, processes, and supplies agricultural commodities like peanuts, sesame seeds, spices, and grains in order to serve the needs of producers of peanut butter, biscuits, cakes, chocolate, and other food items. The company's product line includes peanuts, sesame seeds, pulses, spices, and other agro-products.

Also Read: AMIC Forging shares list with 90% premium at 239.40 apiece on BSE SME

Let us check Sheetal Universal IPO subscription status, GMP today and other key detail as the issue closes today:

Sheetal Universal IPO Subscription Status

Sheetal Universal IPO has been subscribed 179.20 times on December 6, the third and the last day of the bidding process. The public issue received bids for 57.84 crore equity shares as against 32.28 lakh shares on the offer.

The IPO has been subscribed 129.73 times in the retail category and 212.55 times in the non-institutional investors' (NII) category.

Sheetal Universal IPO GMP today

Sheetal Universal IPO GMP today, or grey market premium today, is 13. This indicates Sheetal Universal share price were trading at a premium of 13 in the grey market, according to market observers.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sheetal Universal shares is 83 apiece, which is 18.57 per cent higher than the IPO price of 70.

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Sheetal Universal IPO Details

Sheetal Universal IPO opened for subscription on December 4 and closed today December 6. The SME IPO is a fixed price issue of 23.80 crore and and entirely a fresh issue of 34 lakh shares.

Sheetal Universal IPO price band has been set at 70. Investors can bid for a minimum of 2,000 shares and in multiples thereof.

The IPO allotment is expected to be finalized on Thursday, December 7. Sheetal Universal IPO will list on NSE SME with tentative listing date fixed on December 11.

The proceeds from the new issue will be used for financing capital expenditures, meeting working capital needs and advancing the company's overall goals.

Read here: Sheetal Universal IPO to open on December 4; check price band, GMP, other key details

The registrar of the Sheetal Universal IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Beeline Capital Advisors Pvt Ltd. Spread X Securities is the market maker for the Sheetal Universal IPO.

As per the RHP, the company does not have comparable listed peer. The profit after tax (PAT) of Sheetal Universal Ltd increased by 602.4 per cent and revenue by 230.49 per cent between the fiscal years ending on March 31, 2022, and March 31, 2023.

Customers from the Russian Federation, Indonesia, Malaysia, Vietnam, UAE, Iran, Algeria, Israel, Turkey, and Egypt are among the company's clientele. Kajal Hiren Patel and Hiren Vallabhbhai Patel are the company's promoters.

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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 decisions.

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Published: 04 Dec 2023, 03:44 PM IST
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