UMA Exports IPO subscribed 7.67 times; retail portion booked 10.11 times

The Rs 60-crore initial public offering (IPO) of Uma Exports has witnessed a strong response from investors and closed with 7.67 times subscription on Wednesday, March 30, 2022, the last day for subscription. Investors made bids for 7,08,34,280 equity shares as against 92,30,769 offered in the issue.

According to data from the BSE, the public issue has seen a strong response from retail investors. The portion reserved for retail individual investors (RIIs) was subscribed 10.11 times (bids for 6,43,65,400 equity shares were made as against 63,69,231 shares on offer). The Qualified Institutional Buyers (QIBs) portion was subscribed 2.81 times and Non-Institutional Investors (NIIs) was subscribed 2.22 times.

The company had fixed a price band for its public issue at Rs 65-68 per share and retail investors were allowed to bid for the issue in a lot of 220 Equity Shares and in multiples thereof.

The Kolkata-based company has decided to utilise the proceeds of the public issue to fund its working capital requirements (Rs 50 crore).

The company will initiate the refunds and credit of equity shares to Demat accounts of allottees on April 5, 2022. The shares of the company will debut on the bourses on April 7, 2022.

The issue is 100 per cent book building. Corporate Capital Ventures Private Limited is acting as the book running lead manager of the issue while Mas Services Limited is the registrar.

Uma Exports is engaged in trading and marketing agricultural produce and commodities such as sugar, spices like dry red chillies, turmeric, coriander, cumin seeds, food grains like rice, wheat, corn, sorghum and tea, pulses and agricultural feed like soyabean meal and rice bran de-oiled cake.