Leo Dry Fruits and Spices IPO - Day 3 Subscription at 33.61 Times

Leo Dry Fruits and Spices' initial public offering (IPO) has received robust investor interest over the three-day period. The IPO witnessed remarkable growth in demand, with subscription rates progressing from 3.02 times on day one, to 14.15 times on day two, and reaching an impressive 33.61 times by 11:34 AM on the final day.
 

Leo Dry Fruits and Spices IPO, which opened on 1st January 2025, has seen strong participation across categories. The Retail Investors segment has shown exceptional interest, reaching 45.72 times subscription, while Non-Institutional Investors achieved strong subscription at 38.51 times. The QIB portion stands at 8.13 times.
 

This robust response comes amid positive sentiment in the Indian stock market, particularly towards companies in the food processing and retail sector. Being listed on the BSE SME platform, the issue has attracted significant retail investor attention.
 

Subscription Status of Leo Dry Fruits and Spices IPO:

*As of 11:34 AM

Here are the subscription details for Leo Dry Fruits and Spices IPO as of Day 3 (3rd January 2025, 11:34 AM):

Note:
 

"Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
The portions of anchor investors and market maker are not included in the total shares offered.

Key Highlights Leo Dry Fruits and Spices IPO Day 3 Subscription

• Overall subscription reached impressive 33.61 times on the final day
• Retail investors showing exceptional interest at 45.72 times subscription
• Non-Institutional Investors achieved strong 38.51 times subscription
• QIB portion improved significantly to 8.13 times
• Total bids worth ₹569.74 crores received
• Applications reached 55,126 showing robust retail interest
• Market response indicating strong demand
• All categories showing substantial oversubscription
• Final day demonstrating significant investor confidence

Leo Dry Fruits and Spices IPO - Day 2 Subscription at 14.15 Times

Key Highlights

• Overall subscription grew substantially to 14.15 times
• Retail investors showed strong growth to 20.12 times
• Non-institutional investors increased to 17.35 times
• QIB portion improved to 1.00 times
• Day two witnessed accelerated momentum
• Market response showing growing confidence
• Subscription trend indicating strong demand
• All segments demonstrating consistent growth
• Strong retail participation continuing

Leo Dry Fruits and Spices IPO - Day 1 Subscription at 3.02 Times

Key Highlights:

• Overall subscription opened at 3.02 times
• Retail investors began well at 5.36 times
• Non-institutional investors started at 1.47 times
• QIB portion awaiting participation
• Opening day showed promising response
• Initial momentum indicating good interest
• Market confidence evident in retail segment
• Strong retail participation from start
• Day one setting positive tone

About Leo Dry Fruits and Spices Trading Limited 

Incorporated in November 2019, Leo Dry Fruits and Spices Trading Limited has established itself as a manufacturer and trader of spices and dry fruits under the brand VANDU, along with frozen and semi-fried products under the FRYD brand. Their business operations are divided into two main verticals: Trading of Products and Manufacturing and Processing of Spices, with their manufacturing facility located in Thane, Maharashtra.

The company operates across three distinct segments: B2B (wholesale of bulk spices and dry fruits), B2C (branded sales through distributors and e-commerce platforms), and D2C (direct sales through their website and online partners). As of September 30, 2024, they maintain a workforce of 46 permanent employees.

Their financial performance demonstrates strong growth with revenue increasing by 71% and profit after tax rising by 83% between FY2023 and FY2024. For FY2024, the company reported revenue of ₹62.27 crores with a PAT of ₹6.64 crores, showcasing robust operational efficiency.

Their competitive strengths lie in their experienced management team, diversified product portfolio, in-house manufacturing capabilities, growing brand equity, and widespread customer base across various segments.

Highlights of the Leo Dry Fruits and Spices IPO

• IPO type: Book Built Issue SME IPO
• IPO size: ₹25.12 crores
• Fresh Issue: 48.30 lakh shares
• Face value: ₹10 per share
• Price band: ₹51 to ₹52 per share
• Lot size: 2,000 shares
• Minimum investment for retail investors: ₹1,04,000
• Minimum investment for HNI: ₹2,08,000 (2 lots)
• Market maker reservation: 2,46,000 shares
• Listing at: BSE SME
• IPO opens: 1st January 2025
• IPO closes: 3rd January 2025
• Allotment date: 6th January 2025
• Refund initiation: 7th January 2025
• Credit of shares: 7th January 2025
• Listing date: 8th January 2025
• Lead Manager: Shreni Shares Limited
• Registrar: Bigshare Services Pvt Ltd
• Market Maker: Rikhav Securities Limited