Stanbik Agro IPO listing: Shares of Stanbik Agro made a strong debut on the BSE SME platform on Friday, December 19, following the successful completion of its initial public offering (IPO). Stanbik Agro share price debuted at ₹31.75 per share, a premium of 5.88% over its offer price of ₹30.
Soon after listing, Stanbik Agro shares extended gains and hit the 5% upper price band of ₹33.33. From its IPO price, Stanbik Agro stock was higher by 11.10%.
The listing was higher than market expectations as seen from the grey market premium (GMP). Stanbik Agro IPO GMP ahead of stock market debut was nil, expecting listing at par with the IPO price of ₹30.
Stanbik Agro IPO Details
Stanbik Agro IPO, booked 1.49 times at the end of the bidding period from December 12 to December 16, was a fixed price issue of ₹30 per share. The retail portion of the company was booked 1.70 times, and the non-institutional investor quota received 1.27 times bids.
Stanbik Agro IPO was entirely a fresh issue of 0.41 crore shares worth ₹12.28 crore. Investors could apply for Stanbik Agro IPO in lots of 4000 shares. The minimum amount needed for investment by a retail investor was ₹2,40,000 as they needed to apply for at least two lots.
The company planned to use the IPO proceeds for expansion of retail network by launching new retail outlets, brokerage charges, security deposits and to meet working capital needs, along with general corporate purposes.
Stanbik Agro IPO allotment was finalised on December 17. Meanwhile, the credit of shares into the account of the allottees occurred on December 18, along with the refund of shares.
Incorporated in 2021, Stanbik Agro Limited operates in the manufacturing, wholesaling, and supply of agricultural commodities, focusing on delivering fresh fruits and vegetables directly from farms to consumers while prioritising sustainability, quality, and consistency.
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