BharatRohan Airborne Innovations IPO Sees Strong Demand Amid Modest Grey Market Premium
BharatRohan Airborne Innovations, an agritech company, is set to list on the BSE SME platform on September 30. The Rs 45.04 crore IPO, priced at Rs 80-85 per share, was oversubscribed 10.07 times. Non-institutional investors led with 16 times subscription, followed by retail investors at 8.5 times, and QIBs at 8.33 times. The grey market premium stands at 6%. The company specializes in drone and hyperspectral imaging technology for crop monitoring and sells agri-inputs. IPO proceeds will fund equipment purchase, working capital, and vehicle acquisition. BharatRohan's revenue increased by 49% to Rs 28.23 crore, while PAT rose by 10% to Rs 7.59 crore.
*this image is generated using AI for illustrative purposes only.
BharatRohan Airborne Innovations, an agritech company specializing in drone and hyperspectral imaging technology, is set to make its debut on the BSE SME platform on September 30. The initial public offering (IPO) of the company, which closed on September 25, has garnered significant interest from investors across various categories.
IPO Details and Subscription Status
The Rs 45.04 crore IPO was priced in the range of Rs 80-85 per share. The offering witnessed robust demand, achieving an overall subscription of 10.07 times. Here's a breakdown of the subscription rates across different investor categories:
- Non-institutional investors: 16 times their allocated quota
- Retail investors: 8.5 times their allocated quota
- Qualified institutional buyers: 8.33 times their allocated quota
Grey Market Premium
Despite the strong subscription numbers, the grey market premium for BharatRohan Airborne Innovations stands at a modest 6%. This indicates relatively moderate expectations for the listing performance of the stock.
Company Profile and Services
BharatRohan Airborne Innovations operates in the agritech sector, leveraging advanced technologies to assist farmers. The company's core offerings include:
- Crop monitoring services using drone and hyperspectral imaging technology
- Sale of agri-inputs to enhance crop yields and farmer profitability
Utilization of IPO Proceeds
The funds raised through the IPO will be allocated as follows:
- Rs 14.21 crore for new equipment purchase
- Rs 16.68 crore for working capital requirements
- Acquisition of commercial vehicles
- General corporate purposes
Financial Performance
BharatRohan Airborne Innovations has demonstrated strong financial growth:
| Metric | Performance |
|---|---|
| Revenue | Increased by 49% to Rs 28.23 crore |
| PAT | Rose by 10% to Rs 7.59 crore |
The company's financial performance reflects its growing presence in the agritech sector and the increasing adoption of its services by farmers.
Conclusion
As BharatRohan Airborne Innovations prepares for its stock market debut, investors will be closely watching its performance on the BSE SME platform. The strong subscription rates across investor categories suggest confidence in the company's business model and growth prospects. However, the modest grey market premium indicates that market participants are maintaining measured expectations for the listing day performance.
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