The Initial Public Offering (IPO) of Sheetal Universal Limited is set to open on 4th December, 2023. The issue will remain open for subscription for three days and will close on 6th December, 2023. This SME IPO is a fixed price issue of Rs 23.80 crore, comprising of fresh issue of 34 lakh shares. The Grey Market Premium (GMP) for the Sheet Universal IPO has already started and is faring around Rs 9-10 (around 12-14% over the official issue price of Rs 70 per share). The IPO market is abuzz right now with the mainboard IPOs performing on a record level and the SME IPOs of last week such as the likes of Deepak Chemtex and AMIC Forging also garnering heavy subscriptions.
About Company: Sheetal Universal Limited is a agricultural commodities supplier and exporter, engaging in sourcing, processing and supply of the products such as peanuts, sesame seeds, spices and grains. The company is APEDA, IOPEPC, ISO 22000:2005, HALAL and STAR EXPORT HOUSE Certified and also recognised as category two star export house by the Ministry of Commerce and Industry.
Sheetal Universal Limited IPO Details
| IPO Company Name | Sheetal Universal Limited |
| IPO Type | SME |
| IPO Open date | 4th December, 2023 |
| IPO closing date | 6th December, 2023 |
| IPO Allotment date | 7th December, 2023 |
| IPO Listing date | 11th December, 2023 |
| Share price | Rs 70 per share |
| Lot size | 2,000 shares |
| Total issue size | 3,400,000 shares (aggregating up to Rs 23.80 crore) |
| IPO Reservation | 50% retail, 50% others |
| IPO Registrar | Bigshare Services Pvt Ltd. |
Key Facts About Sheetal Universal IPO
- The issue is entirely a fresh issue and there is no offer for sale (OFS).
- With IPO price band fixed at Rs 70 per share and lot size being 2,000 shares, the minimum investment required by retail investors is Rs 1.4 lakh. HNIs and QIBs will apply in the multiples of the same.
- According to the company, the capital will be used to fund capital expenditure, capital requirement and general corporate purposes.
- The company’s net profit in FY23 was reported Rs 1.98 crore versus Rs 28.31 lakh in FY22. During April-August FY24, company reported a net profit of Rs 1.98 crore.
- Overall revenue reported in April-August FY24 is Rs 58.26 crore against Rs 131.65 crore in entire FY23 and Rs 39.83 crore in FY22.
- The issue will remain open for subscription between 4th December to 6th December. You can check the subscription status at the BSE or NSE websites. Same will also be updated here.
- Sheetal Universal IPO GMP price today on Monday is around Rs 9. Meaning that in the unofficial (grey) market, the shares are being traded at a price of Rs 79 (issue price:70+GMP:9). Further meaning that the market observers are predicting a good response and listing for the IPO. But notably, the investors should remain wary of GMP as it is not a official or correct indicator of an IPO’s performance upon listing.
