Shanthala FMCG Products IPO Listing: SME shares list with over 18% premium at ₹108 apiece on NSE SME
₹108 apiece on NSE, a premium of 18.68% to the issue price of ₹91 per share. Shanthala FMCG Products is an FMCG product distribution company. It distributes branded packaged foods, Personal care products, Education and stationery products, among other products to large FMCG companies.
The initial public offering of Shanthala FMCG Products was launched on October 27 and received decent response from investors. Also Read: Paragon Fine share price makes a stellar debut; stock lists at 125% premium at ₹225 on NSE SME Shanthala FMCG Products IPO was subscribed 3.91 times during its bidding process, from October 27 to October 31. The public issue was subscribed 3.05 times in the retail category and 4.76 times in the Other category.
(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Shanthala FMCG Products IPO is an SME issue and a fixed price issue worth ₹16.07 crore. The IPO was entirely a fresh issue of 17.66 lakh equity shares. The IPO price was fixed at ₹91 per share and the IPO lot size was 1,200 shares.
Shanthala FMCG Products’ promoters are Manjunath Mallya, Shobitha Malya, Sneha Vinayak Kudva, and Yogish Mallya. The company intends to utilize the net proceeds from the issue for funding additional working capital requirements and for general corporate purposes. First Overseas Capital Ltd is the book running lead manager for the Shanthala FMCG Products IPO, while Bigshare Services Pvt Ltd is the IPO registrar.
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