Chatha Foods IPO subscribed over 18 times on last day led by NIIs, retail investors: Check key details
Upstox
3 min read • Updated: March 21, 2024, 7:59 PM
Summary
Chatha Foods IPO share allotment status is expected to be finalised on March 26. Shares of the company are likely to make their market debut on BSE SME on March 27.
Chatha Foods IPO subscription window closed today with a strong demand as the SME issue was subscribed over 18 times on the third and final day on March 21.
The ₹34-crore initial public offer (IPO) of the Frozen food processing firm received bids for 7,67,44,000 shares against 42,64,000 shares on offer, BSE data showed.
In the non-institutional investors' (NIIs) category, the issue was oversubscribed 33.17 times, with bids received for 3,81,44,000 shares over the 11,50,000 shares reserved for them.
The issue, which opened for subscription on March 19, was subscribed 14.6 times in the retail investors' category, with applications received for 2,89,38,000 shares against 19,82,000 shares set aside for the category.
In the qualified institutional buyers' (QIBs) category, the public offer was oversubscribed 8.54 times, with applications received for 96,62,000 shares against 11,32,000 shares reserved for the segment.
Chatha Foods IPO is entirely a fresh issue of 59.62 lakh shares of a face value of ₹10 each and there is no offer-for-sale (OFS) portion.
Of the 59.62 lakh total shares of Chatha Foods IPO, the company reserved 33.24% shares for retail investors, 28.48% for anchor investors, 18.99% for QIBs and 14.26% for NIIs. The company reserved 5.03% of the issue size for the market maker segment. The company raised ₹9.51 crore from anchor investors on Monday, March 18.
Indorient Financial Services Ltd is serving as the book-running lead manager of the IPO, while Skyline Financial Services Private Ltd is appointed as the registrar to the issue.
With the subscription phase over, investors would be waiting for the allotment of the shares, which is likely to be finalized on Tuesday, March 26.
Bidders can check the allotment status of the Chatha Foods IPO either on the BSE or the registrar portal.
Chatha Foods IPO key detail
| Key Details | |
|---|---|
| Chatha Foods IPO price band | ₹53 to ₹56 per share |
| Chatha Foods IPO lot size | 2,000 shares |
| Chatha Foods IPO minimum investment (for retail investors) | ₹1,12,000 |
| Minimum investment (for HNIs) | ₹2,24,000 (2 lots of 4,000 shares) |
About Chatha Foods Ltd
Chatha Foods Ltd (CFL), a leading frozen food processing firm. The company caters to top quick service restaurants (QSRs), casual dining restaurants (CDRs), and other players in the hotel-restaurant-catering (HoReCa) space.
Chatha Foods' diverse product portfolio includes chicken appetisers, meat patties, chicken sausages, sliced meat, toppings and fillers, and more, totalling over 70 meat products.
Under the brand Chatha Foods, the company distributes its products through a network of 29 distributors, operating across 32 cities in India. It serves 126 mid-segment and standalone small QSR brands.
Chatha Foods serves prominent players like Domino's and Subway, among others.
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