Freshara Agro Exports IPO Touches 18.66x Subscription on Day 2

Freshara Agro Exports IPO opened for subscription on October 17, 2024, and will close on October 21, 2024. The allotment for the IPO is expected to be finalised on Tuesday, October 22, 2024, with shares anticipated to be listed on the NSE Emerge on Thursday, October 24, 2024.

This IPO is a book-built issue totalling ₹75.39 crores, consisting entirely of a fresh issue of 64.99 lakh shares. The price band for the Freshara Agro Exports IPO is set between ₹110 and ₹116 per share. Retail investors must apply for a minimum lot size of 1,200 shares, requiring a minimum investment of ₹1,39,200.

As of October 18, 2024, at 9:31 AM, the Freshara Agro Exports IPO GMP stands at ₹90. Given the upper price band of ₹116, the estimated listing price for the IPO could reach ₹206 (cap price + today’s GMP), suggesting a potential gain of 77.59% per share.

The company intends to use the net proceeds from the issue for several purposes, such as, to meet its capital expenditure, funding its working capital needs, for general corporate requirements and to meet the issue expenses.

Freshara Agro Exports IPO Subscription Status

• On October 17, 2024, Day 1, Freshara Agro Exports IPO was subscribed 12.31 times overall, with the retail category seeing a subscription of 17.80 times, QIB at 3.51 times, and NII at 11.23 times. 

• On Day 2, October 18, 2024, as of 11:44 AM, Freshara Agro Exports IPO was subscribed 18.66 times where the retail category was subscribed 26.29 times, QIB was 3.51 times, and NII was 21.04 times. 

About Freshara Agro Exports Limited

Freshara Agro Exports Limited is involved in the procurement, processing, and export of preserved gherkins and various pickled products from India to multiple countries worldwide. The company’s procurement process emphasises direct sourcing from accredited farms and farmers who are committed to sustainable agricultural practices.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.