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Uma Exports IPO Subscribed 2.14 Times On The First Day Of Issue


Uma Exports IPO was subscribed 2.14 times on the first day of issuance

Commodity exporter Uma Exports ’initial public offering (IPO) was subscribed 2.14 times on the first day of issuance on Monday. It received a particularly good response from retail investors, who bid 2.90 times the share allocated to them. The quota of non -institutional investors has been subscribed 46 per cent.

The IPO received bids for 1.97 crore shares of equity compared to an offer size of 92.30 lakh shares of equity.

Eligible institutional buyers (QIBs) have not bid for the public offering so far. Half of the offer is for QIB, 35 per cent is allocated to retail investors and the remaining 15 per cent is for non -institutional investors.

Uma Exports is targeting to raise Rs 60 crore through its inaugural public offering which is a new share issue.

Net proceeds will be used for working capital needs and general corporate purposes.

The price band for the offer, which closed on March 30, has been set at Rs 65-68 per share. Investors can bid for at least 220 shares and in multiples thereafter.

Uma Exports is also involved in the trade and marketing of agricultural products and commodities such as sugar, spices such as dried red chillies, turmeric, coriander, cumin seeds, food grains such as rice, wheat, corn, sorghum and tea, legumes, and agricultural foods such as soybeans. eat and cake de-oil rice bran.

Agrasmartcity

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