Leo Dry Fruits share lists at 31% premium; mirrors IPO GMP trends

Leo Dry Fruits IPO listing: Shares of Leo Dry Fruits and Spices Trading posted a decent D-Street debut on Wednesday, January 8, 2025, following the completion of its initial public offering (IPO). Leo Dry Fruits shares listed at Rs 68 apiece on the BSE SME, reflecting a premium of Rs 16 or 30.77 per cent over the IPO allotment price of Rs 52.

 

Leo Dry Fruits IPO listing mirrored the grey market trends. Ahead of its debut, Leo Dry Fruits shares were quoted at Rs 68 per share in the grey market, representing a premium (GMP) of Rs 16 or 30.77 per cent over the issue price, according to sources tracking unofficial market activities. 

 

Leo Dry Fruits IPO was a book-built issue of Rs 25.12 crore. The company announced that it raised Rs 6.88 crore from anchor investors, as the bidding concluded on December 31, 2024.  The public offering comprised an entirely fresh issue of 48,30,000 equity shares. Leo Dry Fruits IPO was available at a price band of Rs 51-52 apiece with a lot size of 2,000 shares. The public offering, which ended on Friday, January 3, 2025, was oversubscribed by a whopping 181 times. 

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The basis of allotment of Leo Dry Fruits IPO shares was finalised on Monday, January 6, 2025.

 

Bigshare Services served as the registrar for the issue, while Shreni Shares acted as the sole book-running lead manager.

 

Leo Dry Fruits intends to utilise the proceeds from the public offering to fund its working capital requirements. The company also plans to allocate funds for branding, advertising, and marketing activities, as well as for general corporate purposes.

 

Incorporated in November 2019, Leo Dry Fruits & Spices Trading Limited manufactures and trades spices and dry fruits. The company supplies whole and blended spices, roasted dry fruits, and other grocery items. Its business is divided into trading and manufacturing of spices. The company's manufacturing unit is located in Thane, Maharashtra. Leo Dry Fruits operates in three segments: B2B, B2C, and D2C. It sells its products through various channels, including distributors, e-commerce platforms, and its website.