Sheetal Universal IPO: Check price band, other key detail

Agricultural commodities supplier Sheetal Universal Ltd has launched its initial public offering of (IPO) for subscription on December 4.

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.

Price band & lot size

The price band for the IPO has been set 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.

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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.}