Market News
3 min read | Updated on March 27, 2024, 13:59 IST
SUMMARY
Vishwas Agri Seeds will start crediting shares into the Demat account of successful bidders along with refunds for non-allottees on March 28. Vishwas Agri Seeds Ltd shares are tentatively scheduled to get listed on the NSE Emerge platform on Monday, April 1.
Vishwas Agri Seeds Ltd IPO share allotment to be finalised today; here’s how to check status online
VishwasAgri Seeds IPO share allotment is expected to be finalised on Wednesday, March 27. The small and medium enterprises (SME) initial public offer (IPO) was subscribed over 12.34 times on the final day of bidding.
The company received bids for a total of 3.4 crore shares against 28.4 lakh shares on offer, according to NSE data. The public issue was available for subscription between March 21 and March 26
Vishwa Agri Seeds Ltd is engaged in the business of processing and supplying seeds to farmers under the brand name Vishwas.
Vishwa Agri Seeds IPO, consisting entirely of a fresh issue of 30 lakh shares, was received with enthusiastic responses from investors across categories.
Vishwas Agri Seeds IPO was subscribed over 11.56 times by retail investors while the non-institutional investors’ quota was subscribed 12.85 times.
Investors, who submitted bids for shares in Vishwas Agri Seeds IPO, can check the allotment status online through the official website of the registrar for the public issue – Bigshare Services Pvt Ltd.
Your allotment status will be displayed on the screen only after the company finalises the share allocation. In case of final allotment, the number of allotted shares will also be displayed on the screen.
After the allotment of shares, Vishwas Agri Seeds will start crediting shares into the Demat account of successful bidders along with refunds for non-allottees on March 28. Vishwas Agri Seeds Ltd shares are tentatively scheduled to get listed on the NSE Emerge platform on Monday, April 1.
Vishwas Agri Seeds IPO consists entirely of a fresh issue of 30 lakh shares including a market maker portion of 1,52,000 shares. The company has set a fixed price band of ₹86 per share, intending to raise ₹25.8 crore through the IPO.
Retail investors could have submitted their bids with a minimum lot size of 1600 shares aggregating to ₹1,37,600. High net worth individuals (HNI) could have bid for a minimum of 2 lots or 3200 shares, totalling, ₹2,75,200.
Proceeds from the Vishwas Agri Seeds IPO will be utilised toward capital expenditure on equipping the corporate office, setting up a greenhouse, and installing rooftop solar monocrystalline panels (129.6 kW). A part of the money raised will be used towards funding the working capital requirement and general corporate purposes.
Vishwas Agri offers a comprehensive range of over 75 hybrid seeds such as chilli, tomato, brinjal, and watermelon. The company has a strong presence in states like Maharashtra, Gujarat and Rajasthan.
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