SSMD Agrotech India IPO booked 1.62x so far on Day 3 led by retail investors; check GMP, subscription status, more

SSMD Agrotech India IPO commenced on Tuesday, November 25 and will conclude on Thursday, November 27. SSMD Agrotech India IPO price band has been set at ₹114 to ₹121 equity share, each with a face value of ₹10. Investors can place bids for a minimum of 1,000 equity shares and in multiples of 1,000 shares thereafter.

SSMD Agrotech India Ltd specializes in the production, trading, and repackaging of a diverse range of premium agro-food items. The company operates under four distinct brands: Manohar Agro, Super S.S., Delhi Special, and Shri Dhanlaxmi.

Its range of products includes Puffed Rice, Ramdana (Cholai), Gram Flour, Matar Flour, Chana Dal, Idli Rava, Rice Powder, along with various by-products of Chana Dal such as Chana Chilka, Chana Churi, Chana Khanda, and Chana Sattu.

The company primarily distributes its products through a network of distributors throughout Delhi/NCR, Haryana, Uttar Pradesh, Punjab, and Uttarakhand. Moreover, it also engages in direct-to-consumer (D2C) sales via a micro-manufacturing unit. It operates three manufacturing facilities and one D2C dark store.

As per the red herring prospectus (RHP), the company's listed peers are HOAC Foods India Ltd (with a P/E of 44.24), Contil India Ltd (with a P/E of 19.14), and Jetmall Spices and India Ltd (with a P/E of (32.17)).

SSMD Agrotech India IPO Subscription Status

SSMD Agrotech India IPO subscription status is 1.62x on day 3 so far, as per chittorgarh.com. The retail portion was subscribed 2.54 times, and NII portion was booked 62%. The qualified institutional buyers portion was booked 5.33 times.

The company has received bids for 43,09,000 shares against 26,61,000 shares on offer on the first bidding day, at 15:35 IST, according to data on chittorgarh.com.

SSMD Agrotech India IPO subscription status was 67% on day 1.

SSMD Agrotech India IPO details

The public offering consists of a new issue of 28.17 lakh equity shares, each with a face value of ₹10. SSMD Agrotech India IPO intends to use the net proceeds from the offering for various purposes, including funding the company's working capital needs, repaying debts, capital expenditures, and general corporate purposes.

3Dimension Capital Services Ltd. serves as the lead manager for the book running process, while Bigshare Services Pvt. Ltd. functions as the issue registrar. Nikunj Stock Brokers Ltd. is designated as the company's Market Maker.

SSMD Agrotech India IPO GMP today

SSMD Agrotech India IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹121 with no premium or discount in the grey market according to investorgain.com

According to the grey market activities over the past week, today's IPO GMP is trending downward and is likely to decrease further. Experts note that the lowest GMP recorded is ₹0.00, whereas the highest stands at ₹5.

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

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