Aniket PujariMother Nutri Foods IPO listing: Shares of Mother Nutri Foods listed at a premium of 1.19% on the BSE SME platform on Wednesday, December 3. Mother Nutri Foods’ share price debuted at ₹118.40, as against the initial public offering (IPO) price of ₹117.
Soon after listing, the SME stock jumped to ₹124.30 apiece, which happens to be its 5% upper price band.
The listing was better than expectations, as Mother Nutri Foods IPO did not see any traction in the grey market.
Mother Nutri Foods IPO Details
The offer also received a decent response, garnering 15.92 times the bids at the end of the three-day bidding period. The issue was open for subscription from November 26-28.
The retail portion of Mother Nutri Foods IPO was booked 11.31 times, the non-institutional investor (NII) segment was subscribed 34.41 times and the qualified institutional buyer (QIB) quota received 10.10 times bids. Overall, the offer garnered bids for 3,50,26,800 shares as against 22,00,800 shares on offer.
Mother Nutri Foods IPO allotment was finalised on Monday, December 1 with the credit of shares on December 2 and refund to non-allottees on the same day.
Mother Nutri Foods IPO was a combination of fresh share sale of ₹31.67 crore and an offer for sale of ₹7.92 crore, with the company looking to raise ₹39.59 crore at the upper end of the price band of ₹111-117. The lot size for the IPO was set at 1,200 shares.
The company plans to use the fresh proceeds for setting up a manufacturing facility in Bhavnagar, Gujarat and general corporate purposes.
The company is a B2B peanut butter manufacturer, offering more than 10 flavours and 5 variants. It sells its products under the brand “Spread & Eat”. Alongside its own brand, the company undertakes private labelling for domestic and international clients, supplying hypermarkets, supermarkets, and retail chains.
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