Leo Dryfruits & Spices Trading Ltd. had a strong start on the BSE SME platform, with its shares listing at a 31% premium. The shares were listed at Rs 68 per share.
The IPO was highly popular, receiving a subscription rate of 169.08 times, showing strong demand from investors.
Share Price Movement and IPO Details
After the listing, the company’s shares experienced a dip, falling to Rs 64.60 during the day.
However, there was a recovery after that, although the price remains lower than the listing price of Rs 68. The IPO price was set at Rs 51 to Rs 52 per share.
The IPO opened on January 1 and closed on January 3, with a total size of Rs 25.12 crore. It was a fresh issue, with 48.30 lakh new shares being issued.
The company set a minimum lot size of 2,000 shares, meaning investors had to invest at least Rs 1,04,000. Anchor investors committed Rs 6.88 crore, with a 30-day lock-in period for 50% of their investment.
The company’s share distribution was as follows: 34.04% of shares were issued to retail investors, 18.96% to Qualified Institutional Buyers (QIBs),
and 27.41% to anchor investors. The promoters of the company are Kaushik Shah, Ketan Shah, and Parth Ashish Mehta.
Share Price Movement After Listing
Despite the strong start, the share price of Leo Dryfruits saw a decline after listing. It dropped to Rs 64.60 at one point during the day.
However, there was a recovery, though the shares remain lower than the listing price of Rs 68. The IPO price was set between Rs 51 and Rs 52 per share.
