Uma Exports shares traded at a 17% premium to their issue price on BSE today. Stock from Uma Exports debuted in the market at Rs 80 on BSE. The issue price of the IPO stood at Rs 68. The market capitalization of Uma Exports increased to Rs 276.56 crore.
A total of 4.69 lakh shares of the company changed hands, representing a turnover of Rs 3.77 crore on BSE.
On NSE, the share is listed at Rs 76, up 11.76% from the IPO issue price. The company’s market capitalization rose to Rs 269 crore. A total of 9.73 lakh shares in the company changed hands, representing a turnover of Rs 7.79 crore on the NSE.
The issue was open for subscription between March 28 and March 30 within a price range of Rs 65-68 per share. The Rs 60 crore IPO was subscribed 7.67 times in the last day.
The quota reserved for retail bidders was taken up more than 10 times, while the QIB quota garnered almost 3 times the auction. The share allocated to non-institutional bidders was subscribed just over twice.
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Corporate CapitalVentures Pvt Ltd was the lead manager responsible for the issue.
The allotment of shares took place on April 4, 2022. The market lot size of Uma Exports IPO was 220 shares. A retail investor can apply for up to 13 lots (2,860 shares or Rs 194,480).
Proceeds from the public offering will be used to supplement working capital requirements and general corporate purposes.
Uma Exports is engaged in the marketing, trading and distribution of agricultural products, including rice, wheat, sugar, spices, dry red chillies, coriander, cumin seeds, food grains, pulses, etc It is a B2B merchant supplying products to manufacturers, exporting, etc. The company imports products like lentils, fava beans, black urad dal and tur dal to India in large quantities from Canada, Australia and Burma.