Annapurna Swadisht IPO to open for subscription on September 15

13 Sep 2022 , 07:51 AM

On Monday, Annapurna Swadisht revealed that it had set the price brand of Rs68—70 per share for its next book-building public offering on NSE Emerge.

The subscription period for this issue begins on September 15, 2022, and ends on September 19, 2022. 43.22 lakh equity shares will be made available by the firm through the book-building transaction. The minimum application that must be submitted is for 2,000 shares, followed by multiples of that amount. The issuance makes up 26.32% of the company’s post-issue paid-up capital. Shares will be listed on NSE SME Emerge upon allotment.

Corporate Capital Ventures is the issue’s lead manager, and Skyline Financial Services is its registrar. The company’s paid-up equity capital will rise from Rs12.10 crore to Rs16.42 crore following the offering.

Some well-known investors, including Shankar Sharma and Amit Bhartia-erstwhile Partner of GMO Singapore Pte, contributed to the pre-IPO fundraising on a personal level. Famous institutional investors have also purchased pre-IPO interests in the company, including Rajasthan Global Securities and NAV Capital Emerging Star Fund.

The company will use the revenues from the issuance to build more units in West Bengal and broaden its product offering to other states in the east and north of the country.

Two production facilities are located in Asansol and Siliguri for the FMCG company Annapurna Swadisht, based in Kolkata. The Asansol facility of Annapurna Swadisht has a daily capacity to produce 15 MT of fryums, and the Siliguri plant has a daily capacity to produce 10 MT of fryums.

For feedback and suggestions, write to us at [e-mail]