The offer received bids for 98.32 lakh shares as against 35.06 lakh shares on offer.
The initial public offer (IPO) of Leo Dryfruits & Spices Trading received bids for 98,32,000 shares as against 35,06,000 shares on offer, as per BSE data as of 17:00 hours on 1 January 2025. The issue was subscribed 2.80 times.The issue opened for bidding on 1 January 2025, and it will close on 3 January 2025. The price band of the IPO is fixed at Rs 51 to Rs 52 per share. The minimum order quantity is 2,000 equity shares. The equity shares will list on NSEs SME platform.
The IPO comprises a fresh issue of 35,06,000 shares. The promoter and promoter group shareholding will dilute to 38.11% from 52.21% pre-IPO.
About 2,46,000 equity shares will be reserved for subscription by the market maker to the issue. The net issue comprises of 32,60,000 equity shares. The issue and the net issue will constitute 27% and 25.62%, respectively, of the post-offer paid-up equity share capital of the company.
The company intends to utilize the net proceeds for funding working capital requirements of the company, branding, advertisement, and marketing activities, and for general corporate purposes.
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Ahead of the IPO, Leo Dryfruits & Spices Trading on Tuesday, 31 December 2024, raised Rs 6.88 crore from anchor investors. The board allotted 13.24 lakh shares at Rs 52 per share to 6 anchor investor.
Leo Dryfruits & Spices Trading is engaged in the manufacturing, processing, trading, and marketing of a wide range of spices, dry fruits, and other grocery products under the brand name VANDU and frozen/semi-fried products under the brand name "FRYD.. The company is currently engaged in supplying various whole spices and blended spices under the spices category, plain, roasted, and flavored dry fruits under the dry fruits category, ghee, various types of seasoning, chiz bites, poppy seeds, sesame seeds, and many more under the other grocery products category in different packaging sizes. As of 30 June 2024, the company had 45 employees at various levels of the organization.
The company recorded revenue from operations of Rs 62.16 crore and net profit of Rs 6.63 crore for the period as on 31 March 2024.
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