SSMD Agrotech India IPO Subscription Status: IPO Fully Subscribed So Far on Final Day

New Delhi, November 27: SSMD Agrotech India IPO continues to see heavy investor demand on its last day, with overall subscription status reaching 1.28 times by 1:15 PM. Until now, it has received total bids for 33,96,000 shares, against 26,61,000 shares on offer.

Retail investors led the subscription, bidding for 26,62,000 shares against 13,18,000 shares on offer, resulting in a 2.02 times subscription. The QIB category followed with a 2 times subscription, with bids for 54,000 shares against 27,000 shares available. Non-Institutional Buyers recorded the lowest subscription at 0.52 times, bidding for 6,80,000 shares against 13,16,000 shares on offer

Key Details About SSMD Agrotech India IPO

The ₹34.09 crore SSMD Agrotech India IPO is entirely a fresh issue of 0.28 crore shares of ₹34.09 crore. SSMD Agrotech India IPO price band is set at ₹114 to ₹121 per share. The lot size is 1,000 shares per application, with a minimum investment amount by a retail investor of ₹2,42,0000 (2,000 shares) at the upper price band. The minimum lot size investment for HNI is 3 lots (3,000 shares), amounting to ₹3,63,000. 3Dimension Capital Services Ltd. is the book running lead manager, and Bigshare Services Pvt.Ltd is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd.

SSMD Agrotech India IPO: Utilisation of Funds

The company has outlined that it will utilise ₹13.10 crore for funding working capital requirements. Another ₹6.83 crore will be used for repayment of certain borrowings, ₹2.04 crore for setting up new D2C dark stores, ₹0.97 crore for purchasing machinery for setting up a namkeen plant, and the remaining for general corporate purposes.

What’s Next for SSMD Agrotech India IPO?

SSMD Agrotech India IPO is in its last day of bidding, and the subscription window will close today. Until now, it has witnessed strong investor demand, with 1.28 times subscription, which indicates that it may garner more demand in the last few hours. The share allotment for SSMD Agrotech India IPO is expected on November 28, with the company crediting shares and initiating refunds on December 1. The shares of the company are expected to list on the BSE SME on December 2.

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