Telangana-based Srivari Spices and Foods, which has garnered a whopping 418.5 subscriptions, is listed on SME platform NSE-Emerge on Friday.
Investors bid for almost ₹2,700 crore on an issue size of ₹9 crore and bid for 64.27 crore shares on an offer size of 15.36 lakh shares. The price range of the issue was between 40 and 42 ₹.
While the retail investor share was subscribed 518 times, the non-institutional investor share was subscribed 786 times and the QIB share 79 times.
The IPO, an all-new offering, raised ₹2.54 crore from anchor investors including Neomile Growth Fund and Zinnia Global Fund Pcc-Cell Dewcap Fund.
The Company is engaged in the manufacture, marketing and sale of spices and flour (chakki atta) in and around Telangana and Andhra Pradesh. “We handpick our raw materials from different parts of the country and process our products with the utmost care, without the use of artificial preservatives or chemicals. This creates a product portfolio of organic spices and flour that carries the freshness and goodness of organic spices and flour.” every ingredient. “We have created a unique business model where we manufacture and package our products in quantities that can supply a customer for the entire shelf life of our product to avoid wastage,” reads the Red Herring prospectus.
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