The Rs 60 crore IPO of Uma Exports received a solid response, especially from retail buyers. The issue, which opened for subscription on Monday, March 28, was completed on day one and received a good response on the second day of bidding. The issue will close on March 30. Shares of Uma Exports are yet to make their gray market debut. Hence, the IPO of Uma Exports is not available on the second day of GMP (Grey Market Premium) bidding.
Uma Exports IPO: Subscription Status
As of 11.25 am on Tuesday, the issue was subscribed a little more than three times, according to BSE data. Investors bid for 2,78,06,900 equity shares as against 92,30,769 offered in the issue. The portion reserved for retail bidders was subscribed 4.2 times, while the HNI allocation was booked 47 per cent. The quota for qualified institutional buyers was not far off the mark either.
An Export IPO: Subscription Date
The public issue opened on 28 March 2022 and will be open for bidding till 30 March 2022. The agricultural produce trader and distributor company aims to raise Rs 60 crore through its public offering.
Uma Exports IPO: Price Band
The company has a fixed price band of Rs 65 to Rs 68 per equity share for public issue.
Uma Exports IPO: Lot Size
One bidder will be able to apply in lots and one lot will consist of 220 shares of the company. A bidder can apply for a minimum of one lot and a maximum of 13 lots. As a bidder can apply for minimum one lot and maximum 13 lots. A bidder will need to invest a minimum of Rs 14,960 (Rs 68 x 220) to apply for the IPO while a maximum of Rs 1,94,480 can be invested by a single bidder. [( Rs 68 x 220) x 13] In an export IPO.
Uma Exports IPO: Allotment & Listing Date
The tentative date for allotment of shares is April 4, 2022. Bidders can check the status of allotment of shares either on the website of BSE or on the website of the official registrar of IPOs – MAS Services Limited. The shares of Uma Exports will be listed on both NSE and BSE and the likely date of listing of the shares is April 7, 2022.
Uma Exports IPO: What Do Analysts Say?
Highlighting the core principles of the company; Abhay Doshi, Founder, UnlistedArena.com, said, “Uma Exports is engaged in the business of trading and marketing of agricultural products and commodities like sugar, spices, lentils, etc. The name of the company suggests it to be an export company but most of the Revenues come from domestic sales which is 90.34 per cent of total sales in FY 2021 while exports contribute only 9.66 per cent to revenue. The company’s EBITDA margin is 2.83 per cent and PAT margin is only 1.62 per cent, which provides no protection in adverse conditions. Moreover, trading is cyclical in nature and is characterized by high volatility in commodity prices.”
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