Sheetal Universal IPO to open on December 4; check price band, GMP, other key details
- Sheetal Universal IPO issue size is ₹23.80 crore which is entirely a fresh issue of 34 lakh equity shares. There is no offer-for-sale (OFS) component.
Sheetal Universal IPO: Sheetal Universal Ltd, the agricultural commodities supplier, will launch its initial public offering of (IPO) for subscription on Monday, December 4. Sheetal Universal IPO is an SME IPO and a fixed price issue.
The public issue will close on December 6 and the IPO allotment is expected to be finalized on December 7.
Sheetal Universal IPO issue size is ₹23.80 crore which is entirely a fresh issue of 34 lakh equity shares. There is no offer-for-sale (OFS) component.
The IPO price band is fixed at ₹70 per share. The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹140,000.
Sheetal Universal shares will list on NSE SME with a tentative listing date fixed on December 11.
In the Sheetal Universal IPO, 50% of the shares are reserved for retail investors, while remaining 50% for others.
The company proposes to utilise the issue proceeds towards funding capital expenditure, working capital requirement and general corporate purposes.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Sheetal Universal IPO, while Bigshare Services Pvt Ltd is the IPO registrar.
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Sheetal Universal IPO GMP Today
Sheetal Universal IPO GMP today, or grey market premium today, is ₹7 per share, as per market observers. This indicates that Sheetal Universal shares are trading higher by ₹7, or at a premium of 10% at ₹77 apiece in the grey market.
About Sheetal Universal Ltd
Sheetal Universal Ltd was incorporated in 2015 and is engaged in the business of sourcing, processing, and supplying agricultural commodities. These commodities include peanuts, spice, sesame seeds and grains to cater to the manufacturers of peanut butter, biscuits, cakes, chocolate, and food products.
The promoters of Sheetal Universal Ltd are Hiren Vallabhbhai Patel and Kajal Hiren Patel.
The company’s net profit in FY23 jumped to ₹1.98 crore from ₹28.31 lakh in FY22. The company reported a net profit of ₹1.87 crore in April-August period of FY24.
Revenue in FY23 increased to ₹131.65 crore from ₹39.83 crore in FY22. For the April-August period of FY24, the company’s revenue stood at ₹58.26 crore.
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