Freshara Agro Exports IPO allotment expected today: Steps to check status on NSE, Purva Sharegistry

Freshara Agro Exports Limited IPO allotment status is expected to be finalised on Tuesday, October 22, after the end of the subscription with a strong demand.

The initial public offering of the pickled vegetables exporter closed with a stellar subscription on Monday, October 21. The NSE SME issue was subscribed 237 times during the 3-day bidding period.

After the bumper close of the public offer, investors are awaiting the company's finalisation of the share allotment status. Successful bidders will be informed about the allotment through SMS and emails.

The investors can also check the share allotment status on the websites of the IPO registrar, Purva Sharegistry India Private Limited, and the NSE.

Steps to check Freshara Agro Exports IPO allotment status on registrar’s website:

• Visit Purva Sharegistry India Pvt Ltd website at https://www.purvashare.com/
• Go to the Investor Service section on the main menu and select ‘IPO Allotment Query’
• Choose Freshara Agro Exports Ltd from the dropdown list for company names
• Enter either the application number or PAN
• Click on the ‘Search’ button to check the share allotment status

Steps to check Freshara Agro Exports IPO share allotment on the NSE website:

• Open the NSE IPO allotment status page: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password (Investors need to register and create login ID)
• Select Freshara Agro Exports Ltd from the list for issue names
• Verify PAN
• Enter the IPO application Number
• Click on Submit

It’s important to note that the IPO share allotment details will be available only after the company has finalised the share allocation.

Freshara Agro Exports IPO subscription and other details

The initial public offering of Freshara Agro Exports was booked more than 237 times on Monday, the last day of subscription, led by non-institutional investors (NIIs).

According to the NSE data, applications for over 97.58 crore equity shares were received across investor categories against 41.18 lakh shares on offer.

Retail investors booked their quota over 180 times, while the NIIs’ category was subscribed 511 times. The Qualified institutional Buyers (QIBs) subscribed the IPO more than 129 times compared to the shares reserved for the segment.

The ₹75.39-crore Freshara Agro Exports IPO was an entirely new issue of 64.99 lakh shares. There was no offer-for-sale (OFS) component, and the price band was fixed at ₹110 to ₹116 per share.

The minimum application size for retail investors was of a single lot of 1,200 shares, aggregating to an investment of ₹1,39,200.

After the IPO share allotment, the company will initiate refunds for non-allottees on October 23, and the successful bidders will receive shares in their accounts on the same day. Freshara Agro Exports IPO listing date has been tentatively fixed as October 24. Shares of Freshara Agro Exports will be listed on the NSE SME platform.

Freshara Agro Exports objectives

Freshara Agro Exports has proposed to utilise the IPO proceeds to meet capital expenditures and working capital requirements. A portion of the funds will also be used for general corporate purposes.

About Freshara Agro Exports

Established in 2015, Freshara Agro Exports procures, processes, and exports pickled vegetables. The firm sources raw materials from farmers in Tamil Nadu, Karnataka, and Andhra Pradesh.

The company has received certifications from the Food Safety and Standards Authority of India (FSSAI) and the United States Food and Drug Administration (USFDA). It has a processing plant in Tamil Nadu.