Italian Edibles IPO: Check Out Price Band, Lot Size & More
by Sandip Das on 2 February 2024, 5 min read
Italian Edibles’ initial public offer (IPO) has opened for subscription on February 2, 2024. The issue will close on February 7, 2024. The company has set the price band at Rs 68 a piece. Italian Edibles IPO lot size consists of 2,000 shares. Investors can bid for a minimum of 2,000 shares and in multiples thereof. The issue price is 6.8 times the face value of Rs 10.
About the company
The company’s draft red herring prospectus (DRHP) states that the Italian Edibles have been making delicious candy products for the past 14 years. The brand name “Ofcourse” is used to market the company’s confectionery items. The company offers a variety of confections to its consumers, including candy, jelly candies, multi-grain puff rolls, lollipops, milk paste, chocolate paste, and Rabdi [Meethai Sweet]. The company’s two functioning production units are in Madhya Pradesh’s Gramme Palda and Prabhu Toll Kanta.
The company has set the price band at Rs 68 a piece.
This is the Fresh Issue of Equity Shares. The initial Public Offer is of 39,20,000 values of Rs 10 each of the Company for cash for Rs 68 per Equity Share (including a share premium of Rs 58 per Equity Share) aggregating up to Rs 2,665.60 lakhs. There is no Offer for Sale as the company only makes a Fresh Initial Public Offer/Issue.
The company proposes to utilize the net proceeds from the issue for the following objects.:
1) Setting up of the proposed manufacturing unit 2) Repayment of certain Borrowings 3) To meet incremental working capital requirements 4) General Corporate Expenses
Disclaimer: The content of this blog post is intended solely for informational purposes and should not be interpreted as investment or trading advice. The author does not assure the accuracy or completeness of the information presented. Any decisions or actions taken based on the content of this blog post are undertaken at your own risk.
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