Utkal Specialty IPO Listing: Utkal Specialty share price made a muted debut in the Indian stock market today, 17 June, as it got listed at ₹66 apiece on NSE SME, same as its issue price.
The listing met Street expectations, as seen from the grey market premium (GMP). Utkal Specialty IPO GMP stood at ₹0 per share, which indicated a likely listing price of ₹66, same as offer price.
Utkal Specialty IPO Subscription Status
The ₹35 crore initial public offering (IPO) was subscribed 1.60 times in its 3 day’s of bidding.
The Retail Individual Investors (RIIs) segment was booked 2.10 times, while the Non Institutional Investors (NII) category was subscribed 0.89 times. The Qualified Institutional Buyers (QIBs) category received 1.12 times subscription.
Utkal Specialty IPO Details
Utkal Specialty Industries’ SME IPO was open for subscription from June 10 to June 12, with the basis of allotment finalised on June 15.
The company launched the public issue through the book-building route and fixed the price band at ₹62-66 per share. The IPO size stood at ₹35 crore and comprised only a fresh issue of 0.52 crore equity shares, with no offer-for-sale (OFS) component.
The company plans to deploy the IPO proceeds towards capacity expansion, debt reduction and working capital requirements. Around ₹11 crore has been earmarked for repayment or prepayment of borrowings, while ₹9.6 crore will be used to acquire machinery for a new manufacturing facility being set up in Khurda, Odisha. Another ₹5.3 crore has been allocated for working capital needs.
The minimum application size was fixed at 2,000 shares. Retail investors were required to apply for at least two lots, or 4,000 shares, translating into a minimum investment of ₹2,64,000 at the upper price band.
Affinity Global Capital Market Pvt. Ltd. managed the issue as the book-running lead manager. Cameo Corporate Services Ltd. acted as the registrar, while Giriraj Stock Broking Pvt. Ltd. was appointed as the market maker.
About the company
Established on September 1, 2015, Utkal Speciality Industries India Limited manufactures paper-based products and packaging materials catering to a variety of consumer segments.
Its portfolio consists of paper-based solutions designed to address both practical and aesthetic requirements. The products are targeted at everyday consumption as well as special occasions, reflecting the growing consumer preference for sustainable and convenient alternatives.
The company caters to a diversified customer base comprising small manufacturers and end retailers involved in distributing its paper-based products and packaging materials.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
