Vishwas Agri Seeds IPO booked 92% on Day 1: Check price band, lot size and subscription details

Vishwas Agri Seeds IPO, a fixed-priced issue of ₹25.8 crore, was fully subscribed on the first day of subscription on Thursday, March 21. The SME IPO will close for subscription on Tuesday, March 26.

The initial public offer of Vishwas Agri Seeds was subscribed 92% on day 1, receiving bids for 26,19,200 shares against 28,48,000 shares on offer, as per NSE data.

In the retail investors' category, the public offer was booked 1.35 times, with applications for 19,36,000 shares over 14,24,000 shares set aside for them.

Non-institutional buyers (NIBs) booked the issue at only 47%. The bidders in the category submitted bids for 6,83,200 shares against 14,24,000 shares on offer.

The company has reserved 50% of the offer size for retail category investors and 50% for other categories. There is no anchor investor portion. Only, market maker Sunflower Broking will receive 1,52,000 shares in the IPO.

Isk Advisors Pvt Ltd is the book-running lead manager of the Vishwas Agri Seeds IPO. The public issue's registrar is Bigshare Services Pvt Ltd.

Vishwas Agri Seeds IPO price band and minimum investment

Vishwas Agri Seeds IPO price band has been fixed at ₹86 per share. The IPO lot size is 1,600 shares for retail investors aggregating to a minimum investment of ₹1,37,600. For High Net Worth Individuals (HNIs), the minimum investment is 2 lots or 3,200 shares, amounting to ₹2,75,200.

Vishwas Agri Seeds Ltd IPO allotment and listing dates

Vishwas Agri Seeds IPO share allotment is expected to be finalised on Wednesday, March 27. Refunds for non-allottees will be processed on March 28, while shares will be credited to the Demat accounts of applicants who are allotted IPO shares, on the same day.

Successful bidders can check the share allotment status once the basis of allotment is finalised on March 27. There will be two modes available to check the Vishwas Agri Seeds IPO allotment status: through the NSE website and the registrar portal.

Vishwas Agri Seeds will list the IPO on NSE SME, with a tentative listing date being set as Monday, April 1.

Vishwas Agri Seeds Ltd promoters' stake

Ashokbhai Sibabhai Gajera, Dineshbhai Madhabhai Suvagiya, Bharatbhai Sibabhai Gajera, and others are the promoters of the company. Before the IPO, the promoter's stake in the company was 100%, after the listing, it will be reduced to 70%.

Vishwas Agri Seeds Ltd IPO objective

The funds raised will be used for capital expenditure, equipping the corporate office, setting up greenhouse, installing roof-top solar monocrystalline panels (129.6 kW), meeting working capital needs, and for general corporate purposes.

About Vishwas Agri Seeds Ltd

Set up in 2013, Vishwas Agri Seeds is a leading company in the seed industry, primarily engaged in processing and supplying seeds to farmers under the well-known brand 'Vishwas'.

The company is located at Bavla, Ahmedabad in Gujarat. It operates a seed processing unit, warehouse, and cold storage facility, among others. The firm's wide product portfolio includes seeds of more than 40 different field crops and vegetables, ranging from groundnut, soybean, wheat, and cumin to hybrid varieties like cotton, millet, and maize.

Moreover, Vishwas Agri Seeds offers a wide range of hybrid vegetable seeds like chilli, tomato, brinjal, and watermelon. The company maintains a strong presence in Gujarat, Maharashtra, and Rajasthan. It serves farmers with over 75 crop varieties to suit various agricultural needs.

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