Leo Dryfruits & Spices Trading Ltd. started its journey on the BSE SME platform with a strong performance, as its shares were listed at a 31% premium, opening at ₹68 per share.
The IPO received an overwhelming response from investors, with a subscription rate of 169.08 times, reflecting high demand.
IPO Details and Investor Participation
The IPO, which opened on January 1 and closed on January 3, had a total size of ₹25.12 crore. It was a fresh issue, with 48.30 lakh new shares offered.
The price range for the IPO was set between ₹51 and ₹52 per share.
Investors had to purchase a minimum lot of 2,000 shares, requiring an investment of at least ₹1,04,000.
Anchor investors committed ₹6.88 crore, with 50% of their investment subject to a 30-day lock-in period.
The share distribution included:
34.04% allocated to retail investors
18.96% allocated to Qualified Institutional Buyers (QIBs)
27.41% allocated to anchor investors
The company’s promoters are Kaushik Shah, Ketan Shah, and Parth Ashish Mehta.
Share Price Movement After Listing
Despite a strong debut at ₹68 per share, Leo Dryfruits’ share price saw a decline, dropping to ₹64.60 during the day.
However, it later recovered slightly but remained below the listing price. The IPO had been priced between ₹51 and ₹52 per share, making its listing premium notable despite the dip.
Share Distribution and Promoters
The shares were distributed as follows: 34.04% to retail investors, 18.96% to Qualified Institutional Buyers (QIBs),
and 27.41% to anchor investors. The promoters of the company are Kaushik Shah, Ketan Shah, and Parth Ashish Mehta.
