Papadmalji Agro Foods IPO Opens September 29, Investors Eye ₹69–₹72 Price Band
Mumbai: Papadmalji Agro Foods will open its ₹20.18 crore initial public offering (IPO) for subscription on September 29. The Bikaner-based food manufacturer has set a price band of ₹69–₹72 per share for the NSE SME issue, which closes on October 1. The IPO comprises a fresh issue of 25.73 lakh shares worth up to ₹18.52 crore and an offer for sale of 2.30 lakh shares worth up to ₹1.66 crore. In…
Mumbai, September 29 - Papadmalji Agro Foods will launch its ₹20.18 crore initial public offering (IPO) on September 29, with a price range of ₹69–₹72 per share. The Bikaner-based company will offer a total of 28,03,200 shares, comprising 25.73 lakh new shares and 2.30 lakh shares through an offer for sale. NSE Stocks has dipped 2% and fallen below the IPO price amid a broader market sell-off.
Share allotment is set for October 5, followed by credit to successful applicants' demat accounts on October 6, with a tentative listing date of October 7. Kreo Capital is the book-running lead manager, while MAS Services is the registrar. Investors in the individual category must apply for at least two lots, or 3,200 shares, costing a minimum of ₹2,30,400 at the upper end of the price band.
The IPO funds will be used for building a manufacturing facility, repaying bank borrowings, and general corporate purposes.
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