Ramdevbaba Solvent IPO fully booked on Day 1; Grill Splendour's issue subscribed 80% so far

economictimes.indiatimes.com:

In the unlisted market, the company's shares are trading with a GMP of Rs 20. This compares with an offer price of Rs 80 apiece.

The net proceeds from the public offer will be used for setting up a new manufacturing facility, repayment of debt, funding working capital requirements, and other general corporate purposes.

The company is in the business of manufacturing, distribution, marketing, and selling of physically refined rice bran oil. It manufactures and sells rice bran oil to FMCG companies amongst others.

For the period ended December 2023, the company clocked revenues of Rs 463 crore and a net profit of Rs 8.3 crore.

Choice Capital Advisors is acting as the lead manager to the issue and Bigshare Services is the registrar.

Also Read: Grill Splendour Services IPO opens Monday. All you need to know before subscribing

Meanwhile, Grill Splendour Services' public offer, which also opened for subscription on Monday, was booked 80%. The issue garnered bids for 11.04 lakh shares against the 13.72 lakh shares on offer.

The IPO is entirely a fresh equity issue of 13.7 lakh shares and through the issue, the company aims to raise nearly Rs 16.5 crore.

The company's shares are currently commanding a GMP of Rs 8 in the unlisted market against an offer price of Rs 120 per share.

The net proceeds from the public offer will be used for funding working capital requirements, repayment of debt, general corporate purposes, and public issue expenses.

Grill Splendour is a chain of gourmet Bakery and Patisserie spread