Gujarat Peanut and Agri Products Makes Strong Debut on BSE SME Platform
Gujarat Peanut and Agri Products, a Rajkot-based agricultural commodities processor, is listing on the BSE SME platform. The company's Rs 23.81 crore IPO was oversubscribed 7.95 times, with strong demand from retail and non-institutional investors. The grey market premium of Rs 25 per share indicates a potential listing price of Rs 105-110, a 31% increase over the Rs 80 issue price. The company, which exports to Asia, Africa, and the Middle East, reported a revenue of Rs 366.30 crore and a net profit of Rs 6.50 crore, showing significant year-on-year growth. IPO proceeds will fund machinery acquisition, working capital, and corporate purposes.
*this image is generated using AI for illustrative purposes only.
Gujarat Peanut and Agri Products, a Rajkot-based company specializing in processing and trading peanuts and agricultural commodities, is set to make its debut on the BSE SME platform today. The company's Initial Public Offering (IPO) has garnered significant attention, with a grey market premium indicating a potentially strong listing.
IPO Performance
The Rs 23.81 crore IPO of Gujarat Peanut and Agri Products witnessed robust demand from investors:
- Overall subscription: 7.95 times
- Retail investors' subscription: 7.53 times
- Non-institutional investors' subscription: 7.87 times
Grey Market Premium
The company's shares are currently commanding a grey market premium of Rs 25 per share, representing a 31% increase over the issue price of Rs 80. This premium suggests a potential debut in the range of Rs 105-110, subject to market conditions and sustenance of the premium.
Company Overview
Gujarat Peanut and Agri Products has established itself as a significant player in the agricultural commodities sector:
- Core business: Processing and trading of peanuts and other agricultural commodities
- Export markets: Asia, Africa, and the Middle East
Financial Performance
The company has demonstrated strong financial growth:
| Metric | Amount (Rs Crore) | Year-on-Year Growth |
|---|---|---|
| Revenue | 366.30 | 22.00% |
| Net Profit | 6.50 | 65.00% |
| EBITDA | 9.53 | More than doubled |
IPO Details
- Fresh shares issued: 29.76 lakh
- Issue price: Rs 80 per share
The proceeds from the IPO are earmarked for:
- Acquisition of plant and machinery
- Working capital requirements
- General corporate purposes
As Gujarat Peanut and Agri Products prepares for its market debut, investors and market watchers will be keenly observing its performance on the BSE SME platform. The strong subscription rates and notable grey market premium suggest positive sentiment surrounding the company's public listing.
20
