Accretion Nutraveda IPO Day 3: The initial public offering of Accretion Nutraveda opened for subscription on January 28 has witnessed decent subscription in the 3 days of bidding. The SME IPO, which will close for bidding today, Friday, January 30, has set a price band in the range of ₹122-129 per share.
The company aims to raise ₹24.77 crore from this initial public offering (IPO), which is entirely a fresh issue of 19 lakh shares with no offer for sale (OFS) component.
The IPO allotment is expected on Monday, February 2, while successful applicants are likely to receive their shares on Tuesday, February 3. Refunds for non-allottees will also be processed on the same day. The stock is scheduled to list on the BSE SME with a tentative listing date of Wednesday, February 4.
The company plans to deploy the net proceeds from the issue primarily towards capacity expansion and operational strengthening. Of the total amount, around ₹4.22 crore will be used for purchasing machinery to enhance automation at its existing manufacturing unit, while about ₹8.03 crore has been earmarked for acquiring machinery for a new manufacturing setup. In addition, the company intends to allocate ₹5.50 crore towards meeting its working capital requirements. The remaining funds will be utilised for general corporate purposes, supporting overall business operations and growth initiatives.
The IPO lot size is fixed at 2,000 shares, requiring a minimum investment of ₹2.58 lakh (400 shares, 2 lots) for retail investors.
Separately, the firm said it has raised ₹7 crore from anchor investors ahead of its initial share sale opening for public subscription on January 27.
Sobhagya Capital Options Pvt. Ltd. is the book-running lead manager, and Kfin Technologies Ltd. is the registrar of the issue. The market maker of the company is Sunflower Broking Pvt. Ltd.
Accretion Nutraveda IPO GMP Today
Investor sentiment toward the IPO is muted, as Accretion Nutraveda’s grey market premium (GMP) is ₹0 on January 30. This suggested that the stock was likely to debut at ₹129, same as IPO price.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Accretion Nutraveda IPO subscription status
The IPO was subscribed 1.83x by 4:10 pm on Day 3. The retail portion was subscribed 2.19x, and NII portion was booked 2.08x, Qualified Institutional Buyers (QIBs) portion received 1.01x bids.
The company has received bids for 49.51 lakh shares against 1.32 crore shares on offer.
About Accretion Nutraveda
Accretion Nutraveda, incorporated in 2021, is engaged in the production of Ayurvedic and nutraceutical products across a wide range of dosage forms, including tablets, capsules, oral liquids, powders, oils and external applications such as balms, creams and gels.
The company functions as a Contract Development and Manufacturing Organization, catering to both domestic and overseas markets, including Sri Lanka, Singapore and the US. Its product portfolio blends traditional Ayurvedic formulations with contemporary nutraceutical science, addressing health segments such as liver care, women’s wellness, bone and joint support, cognitive health and respiratory care.
