Freshara Agro IPO Subscription Status

Freshara Agro Exports' initial public offering (IPO) has garnered significant investor interest, with subscription rates increasing substantially over the three-day period. Starting strongly on day one, the IPO witnessed a surge in demand, resulting in an impressive 55.62 times oversubscription by 10:39:59 AM on day three. This robust response underscores the strong market appetite for Freshara Agro Exports' shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 17th October 2024, has seen significant growth in investor participation across categories. Freshara Agro Exports attracted bids for 22,90,71,600 equity shares amounting to ₹2,657.23 crore.

The Non-Institutional Investors (NII) segment has shown exceptional demand, followed by strong interest from Retail Investors. The Qualified Institutional Buyers (QIB) have also demonstrated solid participation.
 

Subscription Status of Freshara Agro Exports IPO for Days 1, 2, and 3:

Here are the subscription details for Freshara Agro Exports IPO as of Day 3 (21st October 2024 at 10:39:59 AM):

Total Applications: 7,301

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

• Freshara Agro Exports' IPO is subscribed 55.62 times, with exceptional demand from non-institutional and retail investors.
• Non-Institutional Investors (NII) have shown overwhelming interest, with a subscription ratio of 91.21 times.
• Retail investors have demonstrated strong enthusiasm, with a subscription ratio of 67.97 times.
• Qualified Institutional Buyers (QIB) have shown solid interest, with a subscription ratio of 7.27 times.
• The overall subscription trend shows a significant increase day-on-day, indicating high investor confidence and positive sentiment towards the issue.

Freshara Agro Exports IPO - Day 2 Subscription at 37.60 Times

Key Highlights:

• On Day 2, Freshara Agro Exports' IPO was subscribed 37.60 times, with strong demand across all investor categories.
• Non-Institutional Investors (NII) showed significantly increased interest with a subscription ratio of 50.80 times.
• Retail investors continued to show very strong interest with a 49.25 times subscription.
• Qualified Institutional Buyers (QIB) portion increased to 7.27 times, indicating growing institutional interest.
• The overall subscription trend indicated building momentum, with all investor categories showing substantial increased participation.

Freshara Agro Exports IPO - Day 1 Subscription at 12.31 Times

Key Highlights:

• The Freshara Agro Exports IPO opened with a strong overall subscription of 12.31 times, indicating high initial investor interest.
• Retail Investors showed exceptional early interest with a 17.80 times subscription.
• Non-Institutional Investors (NII) demonstrated strong initial demand with an 11.23 times subscription.
• Qualified Institutional Buyers (QIB) showed solid first-day participation at 3.51 times.
• The robust first-day response laid a strong foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

Read more about Freshara Agro Exports IPO

About Freshara Agro Exports Limited

Freshara Agro Exports Limited, established in 2015, is engaged in the procurement, processing, and export of preserved Gherkins and other pickled goods from India to various countries worldwide. The company operates under a contract farming program and exports raw produce from local farmers in Tamil Nadu, Karnataka, and parts of Andhra Pradesh. For the fiscal year 2024, Freshara Agro Exports demonstrated strong financial performance with a revenue of ₹19,819.58 lakhs, marking a 56% year-over-year growth, and a Profit After Tax (PAT) of ₹2,182.41 lakhs, representing a significant 140% increase. The company's net worth stood at ₹2,696.77 lakhs as of March 31, 2024.

Key performance indicators highlight the company's financial health, with a Return on Capital Employed (ROCE) of 12.31%, Return on Net Worth (RoNW) of 29.67%, and a PAT Margin of 10.98%. However, it's worth noting the company's relatively high Debt/Equity Ratio of 2.77. As of September 30, 2024, Freshara Agro Exports employed 135 people and has garnered accreditations from several leading organizations, including FSSAI, US FDA, Star-K Kosher, APEDA, and BRCGS, underscoring its commitment to quality and regulatory compliance in the food export industry.

Highlights of the Freshara Agro Exports IPO

• IPO Date: 17th October 2024 to 21st October 2024
• Listing Date: 24th October 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹110 to ₹116 per share
• Lot Size: 1200 Shares
• Total Issue Size: 6,499,200 shares (aggregating up to ₹75.39 Cr)
• Fresh Issue: 6,499,200 shares (aggregating up to ₹75.39 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: GYR Capital Advisors Private Limited
• Registrar: Purva Sharegistry India Pvt Ltd
• Market Maker: Giriraj Stock Broking