SME IPO: Sameera Agro issue opens today. Key things to know

The initial public offering (IPO) of Sameera Agro and Infra opened for subscription on Thursday. The issue closes on December 27. Here are 10 things to know about the offer.

1) Company overview

The company is a multi-faceted infrastructure development and construction of residential, commercial spaces, apartments, townships, multi-storied complexes, gated communities, landscapes, and other related works

2) Industry overview

The government’s focus on building infrastructure of the future has been evident given the slew of initiatives launched recently. The $1.3 trillion national master plan for infrastructure, Gati Shakti, has been a forerunner to bring about systemic and effective reforms in the sector, and has already shown a significant headway.

3) Issue size

The IPO is entirely a fresh equity issue of up to 34.8 lakh equity shares aggregating to Rs 62.64 crore.

4) Price band

The company is offering its shares at Rs 180 apiece, and investors can bid for 800 shares in 1 lot.

5) Financial performance

For the period ended September 2023, the company clocked revenues of Rs 94.36 crore and net profit of Rs 6.92 crore.

6) Objects of the offer

The net proceeds from the public offer will be used for construction of ongoing projects, new multiplex, working capital requirements and general corporate purposes.

7) Lead managers and Registrar

First Overseas Capital is acting as the lead manager to the issue and Kfin Technologies is the registrar.

8) Issue structure

About 50% of the offer is reserved for retail investors, and the rest 50% for other investors

9) Important dates

The IPO opens on December 21 and will close on December 27. The final allotment will likely be made on December 28. The company’s shares will likely get listed on January 1.

10) Listing of shares

The company’s shares will get listed on the NSE SME platform.

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