Aelea Commodities makes strong debut, shares list at 73% premium to IPO price

Aelea Commodities Ltd shares were listed at a premium of 73% on the BSE SME platform on Monday, making a strong debut on the stock exchange.

Shares of the company started trading at ₹165 per share against the issue price of ₹95 per share, reflecting gains of 73.68%.

In early deals, more than 18 lakh shares of the company changed hands on the stock exchange. The total turnover was ₹29.24 crore, and the company's market capitalization stood at ₹327.94 crore.

Aelea Commodities launched its initial public offering on the BSE SME platform on July 12 to raise a total of ₹51 crore from investors. The IPO comprising a fresh issue of 53.69 lakh shares closed for subscription on July 16.

Aelea Commodities had fixed the IPO price band at ₹91 to ₹95 per share. The minimum lot size was 1200 shares and the minimum amount of investment was ₹114,000 for retail investors. Maashitla Securities Private Limited is the registrar for the IPO.

Aelea Commodities IPO subscription details

At the close of bidding on July 16, the Aelea Commodities IPO was subscribed 195.83 times. Total bids for 69.93 crore shares worth ₹6,643 crore were received against 35.71 lakh shares on offer.

Among investors, the Qualified Institutional Buyers (QIBs) placed bids for 10.63 crore shares against 10.20 lakh shares on offer. The QIBs portion was booked 104.22 times. The Non-Institutional Investors (NIIs) placed bids for 29.84 crore shares against 7.65 lakh shares on offer. The NIIs portion was booked 389.87 times.

Retail investors placed bids for 29.45 crore shares against 17.85 lakh shares on offer. The RII quota was booked 164.95 times.

Earlier, Aelea Commodities raised ₹14.52 crore from anchor investors ahead of the launch of public subscription. Five fund schemes including Strategic Sixth Sense Capital Fund and Saint Capital Fund were allocated 15,28,800 shares at a price of ₹95 per share.

About Aelea Commodities and IPO objective

Aelea Commodities trades agricultural products such as sugar, cashews, pulses, rice, wheat, soybeans, and other commodities. The company is also processing and trading cashews, catering to both the B2B and B2C markets.

The company has one subsidiary viz., Supreme Commodities DMCC located at Dubai. The company proposed to utilise ₹25.53 crore of IPO proceeds to set up a new manufacturing unit in Surat, Gujarat.

The company looks to broaden its business horizons by delving into the further processing of cashews and extracting oil from them.

With a strategic focus on enhancing our product range and diversifying our offerings, this venture aligns with the company’s commitment to innovation and meeting evolving consumer demands, as per its RHP.

The company will use ₹591.66 lakh for the purchase of plant and machinery at the existing manufacturing unit.