Aelea Commodities IPO: SME IPO subscribed five times on first day of issue; Check latest GMP

Aelea Commodities IPO: The initial public offering (IPO) of the small and medium-sized enterprise (SME) Aelea Commodities Ltd was subscribed over five times on the first day of its issue today. The SME IPO of the agri commodities trader and producer opened for subscription on Friday, July 12, 2024 and will close on July 16, 2024.

Aelea Commodities offers a total of 5,368,800 shares. The Gujarat-based company reserved 1,785,600 equity shares or 33.26 per cent for retail investors, 765,600 shares or 14.26 per cent for the non-institutional investors (NIIs), and 1,020,000 shares or 19 per cent for qualified institutional buyers (QIBs) in the issue. 1,528,800 equity shares or 28.48 per cent are set aside for anchor investors.

Also Read: Aelea Commodities IPO price band set at ₹91-95 per share; SME IPO to open on July 12

Aelea Commodities IPO Subscription Status:

On Friday, Aelea Commodities IPO was subscribed 5.01 times. Retail investors bid the highest as the portion reserved for them was subscribed 8.08 times, while the portion reserved for NIIs was booked 4.54 times. The QIB portion was left unsubscribed on the first day. The SME IPO received 1,78,74,000 share applications against offered 35,71,200 shares on Friday.

Aelea Commodities IPO Details:

Aelea Commodities IPO price band has been set at ₹91 to ₹95 per share. The company aims to raise ₹51.00 crore from the book built issue which is entirely a fresh issue of 53.69 lakh equity shares. The IPO lot size is 1,200 shares and the minimum investment amount required by retail investors is ₹114,000. 

The agricultural products trader proposes to use the net issue proceeds for setting up a new manufacturing unit and installing plant and machinery thereon, purchasing plant and machinery at an existing manufacturing unit and for general corporate purposes.

Ekadrisht Capital Private Limited is the book running lead manager of the Aelea Commodities IPO, while Maashitla Securities Private Limited is the IPO registrar. Hozefa S Jawadwala, Satyanarayan Patro, Ashok Patel, Firoz Gulamhusein Hathiyari, Rashida Hozefa Jawadwala, Sonali Malla, Sumita A Patel, and Farida Firoz Hathiyari are the promoters of Aelea Commodities.

Also Read: Sahaj Solar IPO booked over 97 times on the second bidding day; retail investors steal the show. Check GMP

Aelea Commodities Company Details:

Aelea Commodities is engaged in the trading of agricultural products, mainly in processing and trading cashews. The company also trades other commodities such as sugar, soybean, rice, pulses, and wheat flour. The processing unit is situated in Surat, Gujarat and is another processing unit is coming up in Taluka district, Surat, Gujarat.

Aelea Commodities reported a net profit of ₹12.22 crore upon a revenue of ₹144.50 crore for the financial year 2023-2024. In FY23, the company’s net profit was ₹1.91 crore and revenue was ₹110.14 crore.  The company imports Raw Cashew Nuts (RCN) from various African nations, including Benin, Tanzania, Burkina Faso, Senegal, and Cote d’Ivoire. It trades in by-products from sugar mills, such as Bagasse.

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Aelea Commodities IPO GMP:

Aelea Commodities GMP today, or grey market premium, is ₹66 per share, according to stock market observers. This indicates that the equity shares of Aelea Commodities are trading at ₹161 apiece in the grey market, a premium of 69.47 per cent to the IPO price of ₹95 per share.