October 24, 2024
New Delhi, India
NSE SME
Shares of Freshara Agro Exports debuted at ₹135 on the NSE SME on Thursday, October 24, marking a 16.3% premium over the IPO price of ₹116. The company’s initial public offering (IPO) raised ₹75.39 crore and was oversubscribed by a staggering 236.80 times.
IPO Details and Performance
The public offer, open from October 17 to October 21, was priced between ₹110 and ₹116 per share. Freshara Agro Exports received overwhelming demand, with bids for 97.52 crore shares against 41.18 lakh shares available. The retail investor segment was subscribed 180.80 times, while the NII category saw 510.61 times bids. The QIB quota was subscribed 129.22 times.
Fund Utilization and Company Background
The company plans to use the IPO proceeds to meet capital expenditure, fund working capital needs, and cover general corporate expenses. Freshara Agro Exports specializes in exporting preserved gherkins, baby corn, jalapenos, and other pickled vegetables from India. Established in 2015, the company procures raw produce through contract farming in Tamil Nadu, Karnataka, and Andhra Pradesh, supplying both domestic factories and international markets.
Latest Q2 Results
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
