Sheetal Universal IPO booked 178 times on final day
by mydhanush on 6 December 2023, 3 min read
Agricultural commodities supplier Sheetal Universal Ltd launched its initial public offering of (IPO) for subscription on December 4. The issue closes on December 6, 2023.
The IPO issue size of Sheetal Universal IPO is Rs 23.80 crore which is entirely a fresh issue of 34 lakh equity shares. There is no offer-for-sale (OFS) component.
On December 6, the third and final day of the bidding process, the Sheetal Universal IPO saw a subscription of 178.20 times. The public issue received bids for 57.52 crore equity shares as against 32.28 lakh shares on the offer.
The IPO witnessed an oversubscription of 127.80 times in the retail category and 212.49 times in the non-institutional investors’ (NII) category.
The IPO has set its price range at Rs 70 per share. The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is Rs 140,000.
In the IPO, 50 percent of the shares are for retail investors, and the remaining 50 percent for others.
The company proposes to utilise the issue proceeds towards funding capital expenditure, working capital requirement and general corporate purposes.
Beeline Capital Advisors Pvt Ltd serves as the book running lead manager for the Sheetal Universal IPO, with Bigshare Services Pvt Ltd acting as the IPO registrar.
Sheetal Universal Ltd operates within the sphere of sourcing, processing, and supplying agricultural commodities.
These commodities include peanuts, spice, sesame seeds and grains to cater to the manufacturers of peanut butter, biscuits, cakes, chocolate, and food products.
The company’s net profit in FY23 jumped to Rs 1.98 crore from Rs 28.31 lakh in FY22. It reported a net profit of Rs 1.87 crore in April-August period of FY24. Revenue in FY23 increased to Rs 131.65 crore from Rs 39.83 crore in FY22. For the April-August period of FY24, the company’s revenue stood at Rs 58.26 crore.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
How useful was this post?
Click on a star to rate it!
Average rating 0 / 5. Vote count: 0
No votes so far! Be the first to rate this post.
Spread the love
Open Free Demat Account!
In just a few minutes, Simply provide some basic personal details, to get started.
As you are aware, under the rapidly evolving dynamics of financial markets, it is crucial for investors to remain updated and well-informed about various aspects of investing in the securities market. In this connection, please find a link to the BSE Investor Protection Fund website where you will find some useful educational material in the form of text and videos, so as to become an informed investor.