Anya Polytech & Fertilizers shares hit 5% upper circuit after listing at 22% premium in NSE Emerge

Anya Polytech and Fertilizers Limited shares listed at a premium of 22.14% on the NSE SME platform on Thursday, making a strong debut on the stock exchange.

According to exchange data, the company's shares started trading at ₹17.1 apiece on the NSE Emerge platform against the issue price of ₹14 per share. The stock further rallied up to 5% to hit the upper circuit limit at ₹17.95 apiece on the NSE.

More than 90.4 lakh equity shares changed hands on the NSE in early trade. The total traded value stood at ₹22.53 crore. The market valuation of the company stood at ₹215.4 crore.

In morning deals, the stock moved between a low of ₹17 and a high of ₹17.95 apiece on the NSE.

The value of a single lot of shares of Anya Polytech and Fertilizers bagged by IPO investors in the allotment stood at ₹1,71,000 (₹17.1 x 10,000) after the listing at a premium.

IPO investors could have made a profit of ₹31,000 compared to the minimum investment of ₹1,40,000 (₹14 x 10,000) for a single lot of shares.

Anya Polytech and Fertilizers IPO details

Anya Polytech and Fertilizers Limited is primarily engaged in the manufacturing of high-quality HDPE and PP bags (made from HDPE granules) and farm nutrient products.

HDPE and PP bags are used for bulk packaging commodities such as sugar, urea, cement, food grains, and others.

The company manufactures Zinc sulphate fertilisers—Monohydrate and heptahydrate—and Micronutrient Mixes. Zinc Sulphate Monohydrate is used in the veterinary and poultry industries.

The initial public offering of Anya Polytech and Fertilizers was open for subscription from December 26 to December 30. The public offer was subscribed nearly 440 times. Bids for more than 936.93 crore shares were received against 2.13 crore shares on offer.

The non-institutional investors’ (NIIs) quota was booked 1,100 times. The retail portion was booked over 321 times, while the Qualified Institutional Buyers (QIBs) quota was booked more than 150 times.

The ₹44.8-crore Anya Polytech IPO comprised a fresh issue of 3.2 crore equity shares. The price band was ₹13 to ₹14 per piece. The minimum lot size for retail investors was 10,000 shares, requiring an investment of ₹1,40,000.

Anya Polytech and Fertilizers have proposed to utilise the IPO funds for acquiring plant and machinery and fund working capital requirements.

The company plans to diversify its manufacturing portfolio by entering the jumbo bag production market. It is preparing to invest in plant and machinery to ensure seamless integration of the jumbo bag production line with the existing operations.

The company will use ₹64.6 crore of the IPO money for funding working capital requirements.

Anya Polytech and Fertilizers reported a total income of ₹40.73 crore for the April-June quarter of FY 2024-25. Its net profit was ₹4.53 crore in the first quarter of FY25.

The company’s total income was ₹125.05 crore in FY 2023-24 compared to ₹116.01 crore in FY 2022-23. Profit after tax (PAT) stood at ₹9.98 crore in FY24 against ₹5.7 crore in FY23.