Dindigul Farm Product IPO fully subscribed within hours of launch: Check price band, lot size and other key details

Dindigul Farm Product (EnNutrica) IPO has opened to a strong demand from investors with the public issue getting fully subscribed within hours of launch.

The initial public offer is open for subscription from June 20 to June 24. The price band for the Dindigul Farm Product IPO has been fixed at ₹51 to ₹54 per share.

The BSE SME IPO received bids for over 1.58 crore shares against 42.9 lakh shares offered for the public investors leading to an overall subscription of 3.68 times, the BSE data till 2:30 pm showed.

The public issue received bids for 26.64 lakh shares from non-institutional investors (NIIs) against 9.2 lakh shares set aside for them. The NIIs’ portion was booked 2.89 times. The retail segment saw the highest demand with biddings for nearly 1.33 crore shares against 21.44 lakh shares reserved for the category. The retail portion was booked 6.19 times. The IPO did not receive any bid in the qualified institutional buyers’ (QIBs) segment.

Dindigul Farm Product IPO offer size

Dindigul Farm Product IPO is a book building issue aimed at raising ₹34.83 crore. The public offer has no offer-for-sale component and comprises entirely fresh issue of 64.5 lakh shares.

Dindigul Farm Product IPO lot size and minimum investment

Retail investors can place bids for a minimum lot size of 2,000 shares of Dindigul Farm Product which aggregates to ₹1,08,000. The High Networth Individuals (HNIs) can bid for a minimum lot size of 4,000 shares, aggregating to ₹2,16,000.

Dindigul Farm Product IPO allotment status and listing date

Dindigul Farm Product IPO’s bidding window will close on Tuesday, June 24. Dindigul Farm Product IPO allotment status is expected to be finalised on June 25. Refunds for unsuccessful bidders will be initiated on Wednesday, June 26, and shares of Dindigul Farm Product will be credited to the Demat accounts of successful bidders on the same day. Shares of Dindigul Farm Product are likely to list on the BSE SME platform on Thursday, June 27.

Dindigul Farm Product Limited IPO financials

Dindigul Farm Product IPO’s revenue for the period ended December 31, 2023 was ₹68.76 crore. The company posted a Profit After Tax (PAT) of ₹5.88 crore. In the same period, the dairy company’s net worth was ₹3.93 crore.

In the financial year ended March 31, 2023 the company posted a revenue of ₹28.45 crore, up by over 188% compared to ₹81.99 crore in the financial year ended March 31, 2022. The company’s Profit-After-Tax (PAT) for FY23 was ₹5.25 crore compared to a loss of ₹4.2 crore. The company’s net worth was negative for FY23 and FY22 and stood at ₹16.38 crore and ₹21.62 crore respectively.

Dindigul Farm Product Limited IPO registrar and promoters

Dindigul Farm Product IPO’s book-running lead manager is Beeline Capital Advisors Pvt Ltd. Link Intime India Private Ltd is the registrar and Spread X Securities is the market maker for the dairy company’s public issue.

R Rajasekaran, Rajadharshini Rajasekaran and Indrayani Biotech Limited are the promoters of the company and collectively hold 80.66% stake in the company before the public issue. Post the public issue, the promoters’ stake is likely to reduce to 59.36%.

Dindigul Farm Product Limited IPO objective

Dindigul Farm Product Limited plans to use the funds raised via the public issue for funding capital expenditure, meeting working capital requirements and for other general corporate purposes.

About Dindigul Farm Product Limited

Dindigul Farm Product Limited is engaged in the production of various dairy ingredients from its manufacturing facility located in Dindigul, Tamil Nadu. The company has an established network of 150 village collection centres, providing direct access to more than 4,000 farmers and 50 dairy farms. Dindigul Farm Product Limited sells its products under the brand names ENNUTRICA and Activday. The company sells its products in over 15 states and in 3 countries internationally. The company employs 101 people as of December 23.

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