Sheetal Universal Limited’s Initial Public Offering (IPO) closed for subscription today. The shares of the agricultural commodities supplier and exporter company were subscribed a total of 178.20 times during the 3 days. The retail portion was bid for 127.80 times while the NIIs subscribed 212.49 times. The issued that had only 4.69X subscriptions on day 1 and 20.54X by day two, jumped significantly by the end of third day, ending up at 178.20X. The Sheetal Universal IPO opened on 4th December and closed on 6th December.
The company had offered a fresh issue of 34 lakh shares to raise Rs 23.80 crore with the price band at Rs 70 per share. The subscription status indicates that the investors bid for over 57 crore shares amounting to over Rs 4000 crore.
What’s Next:
- The basis of allotment for the Sheetal Universal IPO will be finalised on 7th December 2023 according to the date mentioned in the red-herring prospectus. The investors will be able to check their allotment status tomorrow through the website of this IPO’s registrar Bigshare Services Pvt Ltd.
- The initiation of refunds and the credit of shares to the Demat accounts will take place on 8th December 2023.
- The IPO will be listed on NSE on 11th December 2023. While the RHP document cites listing date as 11th December, the company may list sooner as the SEBI’s T+3 rule becomes mandatory for IPOs debuting in December.
The SME IPOs with strong financials continue to hold investors’ attention as the mainline issues are on a two-week break until DOMS Industries IPO opens on 13th December.
