Chatha Foods IPO: Issue subscribed 1.25 times on day 1, retail & NII portion fully booked, check GMP and other details

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Noida-based Interarch Building Products Limited files DRHP with SEBI for IPO The Chatha Foods IPO was subscribed over 1.25 times on the first day of bidding. The SME IPO received 53,26,000 applications against 42,64,000 shares on March 19. The retail category was subscribed 1.40 times, meanwhile, QIB and NII portions were subscribed 0.87 and 1.36 times on the first day of bidding.

The Chatha Foods IPO, worth ₹34 crore, consists of a fresh issuance of 59,62,000 equity shares with a face value of ₹10 each. Notably, this is an entirely new issuance, devoid of any offer-for-sale component. The net proceeds from this offering can be allocated towards various objectives, such as establishing the proposed manufacturing unit and fulfilling general corporate purposes.

Indorient Financial Services Ltd serves as the book running lead manager for the IPO, while Skyline Financial Services Private Ltd acts as the registrar. Also read: Chatha Foods IPO: Price band, issue size, key details to know According to the RHP, Tasty Bite Eatables Ltd stands as the sole peer in the industry, boasting a P/E ratio of 114.23. Regarding the IPO allocation, a minimum of 15% of shares are reserved for non-institutional investors (NII), up to 50% for qualified institutional buyers (QIB), and a minimum of 35% for retail investors.

The basis of allotment for Chatha Foods IPO is tentatively scheduled to be finalized on Tuesday, March 26. Refunds are expected to commence on Wednesday, March 27, with shares credited to the demat accounts of allottees on the same day following refunds. Chatha Foods' shares are anticipated to be listed on BSE SME on Wednesday, March 27.