Vishwas Agri Seeds share price makes a muted debut, stock opens with 1.2% discount at ₹85 apiece on NSE SME
- Vishwas Agri Seeds shares debut on NSE SME at ₹85, 1.2% lower than issue price of ₹86. IPO subscription status on day three was 12.21 times.
Vishwas Agri Seeds share price made a muted debut on NSE SME today. On NSE SME, Vishwas Agri Seeds share price opened at ₹85, which is 1.2% lower than the issue price of ₹86. Vishwas Agri Seeds share price touched an intraday high of ₹85.70 and an intraday low of ₹80.75.
Vishwas Agri Seeds IPO opened for subscription on Thursday, March 21, and closed on Tuesday, March 26. The IPO price band was set at ₹86 apiece of face value of ₹10 each. Vishwas Agri Seeds IPO lot size comprised of 1,600 shares. Investors can bid for a minimum of 1,600 shares and in multiples thereof.
On the third day, Vishwas Agri Seeds IPO subscription status was 12.21 times. On day two, the issue was subscribed 1.76 times, and on day one, it was 95%.
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The company's prospectus states that it processes high-quality seeds and distributes them to farmers through its network of distributors. The "Vishwas" brand is used by Vishwas Agri Seeds to market its seeds. The company's seed processing facility is outfitted with an optical sorting equipment that can identify foreign elements, undesired colours, and minor discolorations in addition to size and form flaws. Moreover, the firm treats its seeds, which means that they are cleaned of soil- and seed-borne pathogenic organisms as well as storage insects by using fungicide, insecticide, or a combination of the two.
Vishwas Agri Seeds IPO details
Vishwas Agri Seeds IPO, which is worth ₹25.80 crore, consists of a fresh issue of 30,00,000 equity shares with a face value of ₹10. There is no offer-for-sale component.
The net issue intends to raise funds for additional working capital requirements, general corporate purposes, capital expenditures for the corporate office building's furnishing, equipment purchases for the seed testing laboratory, greenhouse (Fan-Pad System) setup and installation of roof-top solar monocrystalline panels (129.6KW).
Bigshare Services Pvt Ltd is the registrar for the Vishwas Agri Seeds IPO, while Isk Advisors Pvt Ltd is the book running lead manager. For the Vishwas Agri Seeds IPO, Sunflower Broking is the market maker.
Vishwas Agri Seeds IPO GMP today
Vishwas Agri Seeds IPO GMP or grey market premium is +9. This indicates Vishwas Agri Seeds share price were trading at a premium of ₹9 in the grey market, according to www.investorgain.com
Considering the upper end of the price band and the current premium on the grey market, the estimated listing price of Vishwas Agri Seeds is ₹95 apiece, or 10.47% more than the IPO price of ₹86.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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