Freshara Agro Exports IPO Day 1: Latest GMP, subscription status, listing date & other details about SME IPO | Stock Market News

Freshara Agro Exports IPO day 1: The initial public offering (IPO) of Freshara Agro Exports, a company specialising in the exports of processed gherkins and pickled vegetables, opened for bidding on Thursday, October 17. The issue has already received a strong response from investors.

As of 02:30 p.m., the issue was booked 7.24 times. The portion allocated for retail investors was subscribed 10.26 times and that of non-institutional investors (NIIs) at 5.18 times. The qualified institutional buyer (QIB) portion was booked 3.51 times, as per the exchange data.

The net proceeds from the IPO will be utilised for working capital requirements, capital expenditure, general corporate expenses, and issue expenses. Meanwhile, the current grey market premium (GMP) of the issue indicates that the shares of the company could list at a stellar premium of over 64.65 per cent.

Freshara Agro Exports issue details

1. Freshara Agro Exports IPO date: The issue opened for subscription on Thursday, October 17, and will conclude on Monday, October 21.

2. Freshara Agro Exports IPO Price: The price band of the public issue has been fixed at ₹110 to ₹116 per equity share.

3. Freshara Agro Exports IPO Size: The company aims to raise ₹75.39 crore through the IPO, which is a fresh issue of 64.99 lakh shares.

4. Freshara Agro Exports IPO Lot Size: The IPO lot size is fixed at 1200 shares, requiring a minimum investment of ₹1,39,200 for retail investors.

5. Freshara Agro Exports IPO reservation: The IPO offers 11.76 lakh shares to qualified institutional buyers, 8.83 lakh shares to non-institutional buyers, and 20.59 lakh shares to retail investors.

6. Freshara Agro Exports IPO allotment date: Freshara Agro Exports IPO allotment date is set for Tuesday, October 22. Investors who receive an allotment will see the shares in their demat accounts by Wednesday, October 23, while those who do not will have their refunds processed on the same day.

7. Freshara Agro Exports IPO listing: The SME IPO is proposed for listing on the NSE SME on Thursday, October 24.

8. Freshara Agro Exports IPO GMP: According to market sources, the GMP of Lakshya Powertech around 2:30 p.m. on Thursday was ₹75. Considering the upper price band of the issue of ₹116 and the latest GMP, the stock is expected to be listed at ₹191, at a premium of 64.65 per cent.

9. Freshara Agro Exports IPO book-running lead manager and registrar: GYR Capital Advisors Private Limited is the book-running lead manager of the Freshara Agro Exports IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for Freshara Agro Exports IPO is Giriraj Stock Broking.

10. Freshara Agro Exports business overview: The company specialises in the procurement, processing, and exporting of preserved gherkins and pickled vegetables. It operates a state-of-the-art facility in Tirupattur, Tamil Nadu, adhering to the highest quality standards, and serves 40 countries, including Europe, the USA, and Australia. Freshara supports over 4,000 farmers by promoting sustainable practices, providing technical assistance, and ensuring fair compensation, as per the company’s DRHP report.

During 6MFY25, the company achieved a revenue of ₹10,365.55 lakhs, EBITDA of ₹1,866.09 lakhs, and PAT of ₹1,137.81 lakhs.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.