Sheetal Universal share price makes a tepid debut; lists with 7.1% premium at ₹75 on NSE SME

Sheetal Universal IPO listing date: Sheetal Universal share price made a lukewarm debut on NSE SME today. On NSE SME, Sheetal Universal share price was listed at ₹75, which is 7.1% higher than the issue price of ₹70.

Sheetal Universal Ltd opened for subscription on Monday, December 04, and closed on Wednesday, December 06. 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 was subscribed 129.73 times in the retail category and 212.55 times in the non-institutional investors' (NII) category.

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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.

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Sheetal Universal IPO Details

The SME IPO is a fixed price issue of ₹23.80 crore and and entirely a fresh issue of 34 lakh shares.

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

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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Sheetal Universal IPO GMP today

Sheetal Universal IPO GMP today, or grey market premium today, is ₹9. This indicates Sheetal Universal share price were trading at a premium of ₹9 in the grey market, according to investorgain.com.

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 ₹79 apiece, which is 12.86 per cent higher than the IPO price of ₹70.

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

Also Read: Sheetal Universal IPO Day 3: Issue subscribed 179.20 times on final day; NIIs steal the show

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