Unisem Agritech IPO listing: Shares of Unisem Agritech were off to a tepid start on Wednesday, December 17. After listing at par with their initial public offering (IPO) price, Unisem Agritech shares experienced selling pressure and slumped byover 4.5%.
Unisem Agritech share price got listed at ₹65, the same as its IPO price of ₹65. Soon after listing, Unisem Agritech share price hit the day's low of ₹62, down 4.62% from its IPO and listing price.
The listing was in line with expectations, as indicated by the grey market premium (GMP). Unisem Agritech IPO GMP today was ₹0, meaning no listing discount or premium for the shares.
Unisem Agritech IPO
The ₹21.45 crore SME IPO was subscribed 2.03 times at the end of the bidding process, with the individual portion of the offer subscribed 2.28 times and the non-institutional investor quota booked 1.78 times.
Overall, Unisem Agritech IPO received bids for 44,66,000 shares as against 21,96,000 shares on offer. Unisem Agritech IPO was entirely a fresh share sale of 0.33 crore shares. The offer price band was fixed at ₹63-65 apiece.
Unisem Agritech IPO was open for bidding from December 10 to December 12. The allotment for Unisem Agritech IPO was finalised on December 15, while the shares were credited to the demat account of allottees on December 16, along with a refund to those who did not receive shares on the same day.
Investors could apply for the Unisem Agritech IPO in lots of 2000 shares. The minimum amount of investment required by an individual investor was ₹2,60,000 at the upper end of the price band, as they needed to apply for at least two lots.
The company plans to use the funds from the offer for meeting working capital needs, repaying banking facilities availed by the company and for general corporate purposes.
GetFive Advisors was the book-running lead manager, and Kfin Technologies was the registrar of the issue.
Founded in September 2016, Unisem Agritech specialises in the development, processing, and sale of seeds for vegetables, flowers, and field crops. The company employs conventional breeding techniques to produce hybrid seeds that offer increased yields, superior quality, and enhanced resistance to pests and diseases relative to natural varieties.
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