Aelea Commodities IPO price band set at ₹91-95 per share; SME IPO to open on July 12

Aelea Commodities IPO price band set at ₹91-95 per share; SME IPO to open on July 12

MINT | July 9, 2024 | 02:42 PM IST | Breaking News | Follow on Google News

Aelea Commodities IPO price band set at ₹91-95 per share; SME IPO to open on July 12

Aelea Commodities IPO price band set at ₹91-95 per share; SME IPO to open on July 12

Aelea Commodities IPO: Agricultural products trader Aelea Commodities Ltd is set to launch its initial public offering (IPO) July 12 to raise ₹51 crore from primary market. Aelea Commodities IPO is an SME IPO that will list on BSE SME.

Aelea Commodities IPO opens for subscription on Friday, July 12, and closes on Tuesday, July 16. The IPO allotment is likely to be finalised on July 18 and the IPO listing date is July 22.

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Aelea Commodities IPO price band has been set at ₹91 to ₹95 per share. The company aims to raise ₹51.00 crore from the book built issue which is entirely a fresh issue of 53.69 lakh equity shares.

The IPO lot size is 1,200 shares and the minimum investment amount required by retail investors is ₹114,000.

The company proposes to use the net issue proceeds for setting up a new manufacturing unit and installing plant and machinery thereon, purchasing plant and machinery at an existing manufacturing unit and for general corporate purposes.

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Ekadrisht Capital Private Limited is the book running lead manager of the Aelea Commodities IPO, while Maashitla Securities Private Limited is the IPO registrar.

Hozefa S Jawadwala, Satyanarayan Patro, Ashok Patel, Firoz Gulamhusein Hathiyari, Rashida Hozefa Jawadwala, Sonali Malla, Sumita A Patel, and Farida Firoz Hathiyari are the promoters of Aelea Commodities.

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Aelea Commodities is engaged in the trading of agricultural products, mainly in processing and trading cashews. The company also trades other commodities such as sugar, soybean, rice, pulses, and wheat flour. Its processing unit is situated in Surat, Gujarat.

Aelea Commodities reported a net profit of ₹12.22 crore upon a revenue of ₹144.50 crore for the financial year 2023-2024. In FY23, the company’s net profit was ₹1.91 crore and revenue was ₹110.14 crore.

Aelea Commodities IPO GMP

Aelea Commodities IPO GMP today, or grey market premium today, is ₹0, according to stock market observers. This means that the shares of Aelea Commodities are still not traded in the unlisted market.

MINT