Leo Dry Fruits and Spices IPO: Explore Price Band and GMP Today

The IPO of Leo Dry Fruits and Spices is a much-anticipated event in the Indian stock market, offering investors an opportunity to purchase shares of the well-established dry fruits and spices company. Set to close for bidding on Friday, January 3, 2025, this Small and Medium-sized Enterprises (SME) IPO is expected to raise Rs 25.12 crore.

It is a book-built issue, meaning the final price of shares will be determined through the bidding process. The IPO consists entirely of a fresh issue of 48.30 lakh shares, giving investors a chance to tap into the company’s expansion plans.

Key Dates and Subscription Details

The IPO for Leo Dry Fruits and Spices started on January 1, 2025, and will close on January 3, 2025. After the bidding period ends, investors will eagerly await the allotment date, which is expected to occur on Monday, January 6, 2025. Following the allotment, the company's shares will be listed on the BSE SME platform, with the tentative listing date set for Wednesday, January 8, 2025.

Price Band and Investment Details

The price band for the Leo Dry Fruits and Spices IPO is fixed between Rs 51 and Rs 52 per share. Retail investors can apply for a minimum lot size of 2,000 shares, requiring an investment of Rs 1,04,000. For High Net Worth Individuals (HNIs), the minimum investment is two lots, or 4,000 shares, amounting to Rs 2,08,000.

Shreni Shares Limited is serving as the book-running lead manager for the issue, while Bigshare Services Pvt Ltd is the registrar. Market-making activities are being handled by Rikhav Securities Limited, ensuring liquidity and stability in the stock post-listing.

Subscription Status and Market Sentiment

As of Day 3, the Leo Dry Fruits and Spices IPO has garnered significant interest. The issue has been oversubscribed 25.5 times overall, reflecting strong demand from investors. Notably, the retail portion saw robust interest, with a subscription of 36.59 times. The Non-Institutional Investors (NII) category also experienced substantial demand, with a subscription of 31.48 times. However, the Qualified Institutional Buyers (QIB) category showed a more moderate response, with a subscription of 1.01 times.

Grey Market Premium (GMP) and Listing Expectations

On January 3, 2025, the Grey Market Premium (GMP) for the Leo Dry Fruits and Spices IPO is Rs 18. The GMP is an informal indication of the price at which the shares are expected to list on the stock exchange. Based on the upper price band of Rs 52 per share, the estimated listing price of the shares is Rs 70 per share. This indicates an expected listing gain of 34.62% for those who have applied for the IPO.

About Leo Dry Fruits and Spices

Leo Dry Fruits and Spices is a well-recognized name in the Indian dry fruits and spices market. Known for offering a wide range of high-quality products, the company has established itself as a trusted brand for consumers looking for premium dry fruits, spices, and other related products. The funds raised through this IPO will be utilized for working capital requirements, expansion plans, and other corporate purposes, positioning the company for sustained growth in the competitive market.

Conclusion

With strong investor interest, a promising Grey Market Premium, and the backing of a reputable lead manager, the Leo Dry Fruits and Spices IPO has generated significant excitement among investors. As the subscription period nears its end, many are eagerly awaiting the final listing date to see the company’s shares hit the stock exchanges. Given the company’s strong market presence and robust business plan, this IPO presents an attractive opportunity for investors seeking exposure to the dry fruits and spices sector.