Sameera Agro and Infra Limited IPO subscribed over 1.51x on day 3 - Check details

According to information available on the NSE, the public issue has so far received bids for 52,42,400 shares against 34,80,000 shares on offer.

The company aims to raise a total of 62.64 crore via IPO route.

Sameera Agro and Infra Limited IPO: The initial public offering (IPO) of Sameera Agro and Infra Limited was subscribed around 1.51 times on Tuesday i.e. December 26, 2023. The IPO of the real estate and agro-industry player comprises a fixed price issue with a price band set at Rs 180 per share.

According to information available on the NSE, the public issue has so far received bids for 52,42,400 shares against 34,80,000 shares on offer. The bidding window for the issue will close on December 27, 2023.

The company aims to raise a total of 62.64 crore via IPO route. The IPO entirely includes a sale of 34.80 lakh equity shares.

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It is a fixed price band issue, which shall be listed on the emerging platform of the National Stock Exchange (NSE) on January 1, 2024.

The company - which plans, develops, and constructs residential and commercial spaces, apartments, townships, multistoried complexes, etc. - has showcased robust financial performance over the past three years.

According to the information available, investors can make a bid for a minimum of 800 equity shares, or its multiples thereafter, amounting to Rs 1,44,000. On the other hand, non-retail investors need to bid for a minimum of two lots or 1,600 equity shares. This will amount to at least Rs 2,88,000.

The net proceeds from the issue shall be utilised towards the construction of ongoing projects; construction of a new multiplex; to meet the existing working capital requirement for the agro-business; and general corporate expenses.

First Overseas Capital is the sole manager of the issue and Kfin Technologies is the official registrar for the initial public offering.

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