Vishwas Agri Seeds IPO booked over 12 times on last day of subscription, check key details

The Vishwas Agri Seeds IPO, comprising entirely a fresh issue of 30 lakh shares, closed for subscription on Tuesday, March 26, with a strong demand from investors. The initial public offer (IPO) received bids for a total of 3.4 crore shares compared to 28.4 lakh shares on offer, resulting in 12.23 times oversubscription, according to the NSE data.

The SME IPO, a fixed-priced issue of ₹25.8 crore, was open for subscription from March 21 to March 26.

In the non-institutional buyers' category, bids were submitted for 1,83,12,000 shares, exceeding the 14,24,000 shares available for subscription, resulting in a bidding of 12.85 times.

Retail investors subscribed the issue reserved for them by 11.56 times, submitting bids for 1,64,62,400 shares against 14.24 lakh shares available for them, the data showed.

Of the issue, 50% of the offer size was reserved for retail category investors and the remaining 50% for other categories. The company did not allocate any portion for anchor investors. But, it reserved 5.07% of the offer for market maker Sunflower Broking.

Isk Advisors Pvt Ltd is the book-running lead manager of the Vishwas Agri Seeds IPO, while Bigshare Services Pvt Ltd is the registrar for the public issue.

Vishwas Agri Seeds IPO key details

Vishwas Agri Seeds IPO price band was fixed at ₹86 per share and the minimum lot size for retail investors was 1,600 shares. This aggregated to a minimum investment of ₹1,37,600 for retail investors. For high net worth individuals (HNI), the minimum lot size was 2 lots, or 3,200 shares.

Vishwas Agri Seeds Ltd IPO share allotment is expected to be finalised on Wednesday, March 27. Refunds for non-allottees will be initiated on March 28, and shares will be credited to the Demat accounts of successful bidders on the same day.

Successful applicants will be able to check the share allotment status once the basis of allotment is finalized. They can check their IPO allotment status on either the NSE website or the registrar portal.

Shares of Vishwas Agri Seeds Ltd are tentatively scheduled to get listed on the NSE Emerge platform on Monday, April 1.

About Vishwas Agri Seeds Ltd

Established in 2013, Vishwas Agri Seeds is primarily focused on processing and supplying seeds to farmers under the well-known brand 'Vishwas'.

Located in Bavla, Ahmedabad, Gujarat, the company operates a seed processing unit, warehouse, and cold storage facility, among others. Vishwas Agri offers a comprehensive range of hybrid vegetable seeds such as chilli, tomato, brinjal, and watermelon. It maintains a strong presence in states like Gujarat, Maharashtra and Rajasthan. The company serves farmers with over 75 crop varieties tailored to suit their various agricultural requirements.

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