Srivari Spices IPO: GMP, subscription status on day 2, and other key details
₹40 to ₹42 per equity share and the Srivari Spices shares will be listed on the NSE SME exchange Friday, 18 August. Srivari Spices and Foods IPO plans to raise ₹9 crore and the total of 2,142,000 shares have been offered. The company plans to use the net proceeds to fund working capital requirements and meet general corporate expenses.
Srivari Spices IPO's book running lead manager to the issue is GYR Capital Advisors Private Ltd and the registrar is Bigshare Services Private Ltd. Srivari Spices and Foods Ltd was founded in 2019 and is in the business of producing flour (chakki atta) and spices. The company also handles the task of marketing and selling its goods.
Telangana and Andhra Pradesh are the two states where the company predominantly conducts business. Srivari Spices and Foods IPO share allotment will take place on Monday, 14 August. Those allotted shares will get them in their Demat accounts on Thursday, 17 August.
The refund process for those who did not get shares will begin on Wednesday, 16 August. Srivari Spices and Foods IPO was subscribed 42.03 times on day 2. The issue received positive response from retail investors who's portion set was subscribed 71 times, and non-institutional buyers who's portion set was subscribed 28.77 times, and qualified institutional buyers who's portion was subscribed 1.26 times, according to data on chittorgarh.com.
The company has received bids for 6,00,18,000 shares against 2,142,000 shares on offer, according to data on chittorgarh.com. On day 1, Srivari Spices IPO subscription status was 10.37 times. Also Read: Concord Biotech IPO Day 3: Issue subscribed over 24 times on last day; QIB portion booked 68x Srivari Spices IPO GMP or grey market premium is +25, same as the
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