Sheetal Universal Ltd, a supplier of agricultural commodities, is set to kick off its IPO subscription on Monday, December 4. The Company IPO falls under the SME category and follows a fixed pricing structure.
The IPO allotment is anticipated to be finalized on December 7, and the public issue will close on December 6.
The total issue size of the Company IPO, which is ₹23.80 crore, is 34 lakh equity shares. The offer-for-sale (OFS) component is absent.
A fixed price band of ₹70 per share is used for the IPO. Retail investors must invest a minimum of ₹140,000, with lots of 2,000 shares in the IPO.
Sheetal Universal shares will be listed on the NSE SME on December 11, with a tentative listing date of December 11.
The Company IPO reserves 50% of the shares for retail investors and the remaining 50% for others.
The proceeds of the issue will be used to fund capital expenditures, working capital requirements, and general corporate purposes, according to the company.
The Company IPO’s book-running lead manager is Beeline Capital Advisors Pvt Ltd, and the IPO registrar is Bigshare Services Pvt Ltd.
Sheetal Universal IPO GMP Today
According to market observers, the Company IPO GMP today, or grey market premium, is 7 per share. This means that Sheetal Universal shares are trading at 77 apiece in the grey market, up 7 or 10%.
Sheetal Universal Ltd
Sheetal Universal Ltd was founded in 2015 and is in the business of sourcing, processing, and supplying agricultural commodities. These commodities include peanuts, spices, sesame seeds, and grains to supply manufacturers of peanut, butter biscuits, cakes, chocolate, and food products.
Sheetal Universal Ltd is owned by Hiren Vallabhbhai Patel and Kajal Hiren Patel.
The company’s net profit increased from ₹28.31 lakh in FY22 to ₹1.98 crore in FY23. In FY24, the company declared a net profit of ₹1.87 crore for April through August.
From ₹39.83 crore in FY22 to ₹131.65 crore in FY23, revenue climbed. The company’s revenue for FY24’s April–August quarter was ₹58.26 crore.
