Vishwas Agri Seeds IPO subscribed 34% so far on Day 1; Chatha Foods' issue booked 4x on final day
The IPO is entirely a fresh equity issue of 30 lakh shares worth Rs 26 crore.
The company is offering its shares at Rs 86 apiece, and investors can bid for 1,600 shares in 1 lot.
The net proceeds from the public offer will be used for capital expenditure, to purchase equipment for setting up seed testing lab, working capital requirements and general corporate purposes.
Vishwas Agri Seeds is in the business of processing quality seeds and supplying them to farmers via their distribution network. The company sells its seeds under the brand name «Vishwas».
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For the period ended September 2023, the company clocked revenue of Rs 42.47 crore and a net profit of Rs 4.51 crore.
Isk Advisors is acting as the lead manager to the issue and Bigshare Services is the registrar.
Meanwhile, the issue of Chatha Foods was subscribed 4 times on the third day of bidding. The IPO, which is entirely a fresh equity issue of 59.6 lakh shares, closes today.
The company has priced the IPO in the range of Rs 53-56 apiece, and investors can bid for 2,000 shares in 1 lot.
The net proceeds from the public offer will be used for setting up a manufacturing facility and general corporate purposes.
Chatha Foods is a frozen food processor, serving top QSRs, CDRs and other players in the HoReCa segment like Dominos and Subway’s India franchise, Café Coffee Day, Wok Express, etc. It is connected with the Indian food
