Anya Polytech and Fertilizers IPO day 1: Issue booked over 6x on high retail demand; check price band, offer size and more

The initial public offering of Anya Polytech and Fertilizers Ltd was fully subscribed within hours of launch on Thursday, December 26, driven by high demand from retail investors. The NSE SME issue has been booked over 6 times so far.

Retail investors and Non-Institutional Investors (NII) led the bidding on the first day. According to the NSE data, Anya Polytech and Fertilizer IPO attracted bids for over 25.72 crore shares compared to 2.13 crore shares on offer, leading to an overall subscription of 12.07 times.

The NIIs placed bids for 3.6 crore shares against 45.68 lakh shares set aside for them, leading to a subscription of 7.89 times in the category. The Retail Individual Investors (RIIs) applied for more than 22.11 crore shares against 1.06 crore shares set aside for them. The retail quota was booked 20.77 times.

No bids were received from the Qualified Institutional Buyers (QIBs) against the allocation of 60.84 lakh equity shares.

On Tuesday, the company raised ₹12.74 crore from anchor investors in the pre-bid round. Anya Polytech allocated 91 lakh shares to seven fund schemes at a price of ₹14 per share, the upper end of the price band of the issue.

Anya Polytech and Fertilizers IPO details

The ₹44.8-crore IPO is entirely a fresh issue of 3.2 crore equity shares. The company has set the IPO price band at ₹13 to ₹14 per piece.

For retail investors, the minimum lot size is 10,000 shares per application aggregating to an investment of ₹1,40,000.

Beeline Capital Advisors Pvt Ltd is the book-running lead manager. Skyline Financial Services is the registrar for the Anya Polytech IPO.

Anya Polytech and Fertilizers IPO key dates

Anya Polytech IPO is open for subscription till December 30, 2024. According to the offer documents, the IPO is expected to finalise the IPO share allotment status on December 31.

The company has proposed to list its shares on Thursday, January 2, 2025. The stock will be listed on the NSE SME platform, Emerge.

Anya Polytech and Fertilizers IPO objects

Anya Polytech and Fertilizers Ltd is involved in the manufacturing of fertilisers and bags. The company also offers environmental solutions.

The company manufactures Zinc sulphate fertilisers and High-Density Polyethylene (HDPE) and Polypropylene (PP) bags. It has proposed to utilise ₹12.69 crore of the IPO proceeds for the purchase of plant and machinery, and the working capital needs.

The company will also spend ₹10.8 crore from the IPO funds on a new project of its subsidiary, Yara Green Energy Pvt. Ltd.

Anya Polytech and Fertilizers reported a total income of ₹40.73 crore for the April-June period of FY25. Its net profit stood at 4.53 crore during the period.

The company’s total income stood at ₹125.05 crore in FY24 compared to ₹116.01 crore in the previous financial year. Its profit after tax (PAT) was ₹9.98 crore in FY24 against ₹5.7 crore in FY23.