The initial public offering (IPO) of Pajson Agro India, which opened for bidding today, was fully booked as institutional investors showed strong interest in the issue.
The IPO, which remains open for bidding until December 15, has received bids for 45.30 lakh shares against over 41.79 lakh shares on offer, resulting in a subscription rate of 1.08 times at the end of Day 1, according to exchange data.
Among investor segments, the Qualified Institutional Investors (QIB) segment was oversubscribed 3.54 times, while the Non-Institutional Investors (NII) segment was subscribed 0.18 times. The retail segment saw a modest response, with subscriptions at 0.09 times.
Pajson Agro India IPO Details
The company is looking to raise ₹74.45 crore from the issue, which is entirely a fresh issue of 0.63 crore shares. The price band has been fixed at ₹112–118 per share, with a lot size of 1,200 shares, requiring a minimum investment of ₹2,83,200 for retail investors.
The SME IPO is proposed to list on the BSE SME, tentatively on Thursday, December 18. Of the total issue size, 47% has been reserved for Qualified Institutional Buyers (QIBs), 14.26% for Non-Institutional Investors (NIIs), and 33.25% for Retail Investors.
The Pajson Agro India IPO allotment is expected to be finalized on Tuesday, December 16, with refunds initiated on Wednesday, December 17. Shares will be credited to allottees’ demat accounts on the same day following refunds.
The company proposes to use the proceeds from the issue towards capital expenditure for the establishment of a second cashew processing facility at Vizianagaram, Andhra Pradesh, and for general corporate purposes.
About Pajson Agro India
The company processes raw cashew nuts into cashew kernels and supplies them to domestic and international markets. The company sells both in bulk and in retail packs under its white-label brand Royal Mewa (dry fruits segment). Additionally, it sells by-products such as cashew husk and shells for industrial and agricultural use.
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