Uma Exports’ initial public offering (IPO) to raise up to Rs 60 crore hit the Street on Monday. The IPO, which is an entirely fresh issuance of shares, will be open for subscription till Wednesday, March 30. Uma Exports is a trader and marketer of agricultural produce and commodities.
Here’s all you need to know about the Uma Exports IPO:
Issue price
Potential investors can bid for Uma Exports shares in a price band of Rs 65-68 under the IPO.
Lot sizeShares are available for bidding in multiples of 220. One lot will cost investors Rs 14,300-14,960.
Objective
The company aims to use the proceeds from the IPO towards the augmentation of working capital requirements and for general corporate purposes, according to its draft red herring prospectus (DRHP).
Listing
Sapphire Foods shares will be listed on stock exchanges BSE and NSE on April 7.
Investor categories
Half of the total shares available for bidding under the IPO are reserved for qualified institutional buyers (QIBs), 35 percent for retail investors and 15 percent for non-institutional investors (NIIs).
Company profile
Uma Exports is into marketing, trading and distribution of agricultural products such as rice, wheat, sugar, spices, dry red chilli, coriander, turmeric, cumin seeds, food grains and pulses. It imports products such as lentils, faba beans, urad dal and tur dal. The company supplies products to manufacturers and exporters in bulk quantities.
