Dindigul Farm Product IPO listing: Shares make strong debut, list at 90% premium

Dindigul Farm Product IPO listing: Shares of Dindigul Farm Product (EnNutrica IPO) made a stellar debut on the BSE on Thursday, June 27. The stocks were listed at ₹102.6 per piece on the BSE, a 90% premium over the upper band of the issue price ₹54. Dindigul Farm Product shares hit a 5% upper circuit and traded at ₹107.73 at 10:21 am.

The minimum lot size to bid for Dindigul Farm Product IPO was 2000 shares, bidders allotted shares of the company would have accrued a minimum profit of ₹97,200 (₹48.6 x 2000) after the stock began to trade on the exchange.

Dindigul Farm Product’s IPO was valued at ₹34.83 crore. The bidding window for the BSE SME issue was open from Thursday, June 20 to Monday, June 24.

The public issue received bids for 86.81 crore shares compared to the 46.16 lakh shares on offer, leading to an oversubscription of 188 times. The IPO was oversubscribed across all categories with the Non-Institutional Investors category leading the demand for the company’s shares. The NII allocation of Dindigul Farm Product IPO was booked 207 times with applications for 25.79 crore shares compared to 12.46 lakh shares on offer.

Retail investors subscribed to the issue 201.44 times, bidding for 43.18 crore shares compared to the 21.44 lakh shares set aside for the segment.

The Qualified Institutional Buyers (QIBs) segment of the BSE SME IPO was subscribed over 145 times. QIBs placed bids for over 17.85 crore shares compared to the 12.26 lakh shares reserved for the category.

The price band for Dindigul Farm Product IPO, valued at ₹34.83 crore, was fixed at ₹51 to ₹54 per share. The public offer consisted entirely of a fresh issue of 64.5 lakh shares.

Dindigul Farm Product Limited was incorporated in 2010 and produces various dairy products, including milk protein concentrates, skimmed milk powder, dairy whitener, whey protein concentrate, and casein. The company’s products are sold under the brands ENNUTRICA and Activday, serving clients across multiple industries.

To know more about IPOs listing, schedule and upcoming IPOs, click here