Aelea Commodities IPO Listed on BSE SME with a 73% Premium Over IPO Price

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 22nd July 2024 - 12:52 pm

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Aelea Commodities' shares saw a strong start to the stock market when they were listed on July 22. At ₹ 165, they were trading at a premium of 73.6 percent over the ₹ 95 issue price on the BSE SME platform.

Nearly 170 people subscribed to the issuance, with non-institutional investors taking the lead. A new issue of 53.69 lakh shares, the ₹ 51 crore public offer attracted a lot of interest from investors, as it was approximately 170 times subscribed. Retail investors and qualified institutional buyers, or QIBs, trailed behind non-institutional investors, who had purchased 390 times their allocated quota.

Having been incorporated in 2018, its primary concentration is on the processing and trading of cashews, with a secondary focus on agricultural items. The business also sells sugar, wheat, rice, soybean, and pulse flour, among other products. Additionally, Aelea imports raw cashew nuts from Senegal, Côte d'Ivoire, Tanzania, Benin, Burkina Faso, and Senegal, among other African nations.

The company plans to construct a new production unit, install the required equipment, buy extra equipment for an existing manufacturing unit, and use the net funds from the issue for general corporate objectives.

Read more about Aelea Commodities IPO

To Summarize

Aelea Commodities IPO were launched at a premium of 73.7% on the BSE SME. In the unlisted market, the IPO, which was booked more than 190 times, sold at a premium of ₹ 77. Profits will be used to pay for corporate expenses, plant setup, a new unit, and other costs. The business imports raw cashew nuts from Africa, trades cashews and other commodities B2B and B2C, and places a strong emphasis on client happiness.

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