The shares of the Sheetal Universal Limited, the agricultural commodities supplier and exporter company, listed at a premium of 7.14% at Rs 75 on the SME NSE, against the issue price of Rs 70 per share. The company debuted on the SME NSE today on 11th December 2023.
The analysts were expecting a better listing given the subscription numbers. The IPO was subscribed 178.20 times when it was open between 4th to 6th December. The issue had hefty subscriptions from retail investors as well as NIIs with 127.80 times and 212.49 times. Sheetal Universal Limited’s Rs 23.80 crore IPO was a fresh issue of 34 lakh equity shares at a a fixed price band of Rs 70 per share.
Listing details and calculation:
- Issue price: Rs 70 per share
- Lot size: 2,000 shares
- Investment per lot: Rs 1,40,000
- Listing Price: Rs 75/-
- Listing premium (Profit in percentage): 07.14%
- Profit per lot/application: Rs 9,995.
As of this writing (11th Dec, 2 PM), the shares of Sheetal Universal Limited have further gained 1.13% on the listing price as you can see on the NSE website here.
However low, the listing is still at a premium following the current rally in the market. Last week’s two SME IPOs; Net Avenue Technologies Limited and Marinetrans India Limited, had also debuted positive on the SME. Net Avenue Technologies was listed at a 133% premium while Marinetrans at a 15% premium.
This week has four SME IPOs in line to open for subscription, namely Presstonic Engineering, S J Logistics, Siyaram Recycling and Shree OSFM E-Mobility.
Another SME IPO poised for listing this week is Accent Microcell. The IPO of the Accent Microcell Limited that is currently open for subscription, will list on the SME NSE on Friday, 15th December 2023.
