There was tremendous enthusiasm among investors about an IPO of ₹ 33 crore of Snehaa Organics in Hyderabad. The issue was opened on 29 August and closed on 2 September. Now today is a very special day for investors, because the share allotment will be finalized on September 4.
Investors who have applied in this IPO will be able to check whether they have been allotted share. For this, they visit the website of Registrar Skyline Financial Services. You have to choose the “Snehaa Organics iPO” option, then check the allotment status by entering your PAN or application number.
IPO gets tremendous response
Investors saw a lot of interest in this issue. Total subscription: 28 times, retail investor category: 37.75 Gun, qualified institutional buyers (QIBS): 42.19 times, non-institutional investors (NIIS): 16.23 times, the company introduced this IPO at ₹ 115-122 shares, under which 26.79 million new shares were introduced by the company, under which this IPO was introduced on the price band, the company introduced this IPO ₹ 122. Was released.
Indication from gray market
Before the listing, there is a slight rise in the shares of Snehaa Organics in the gray market.
- GMP (Gray Market Premium): ₹ 4 per share
- Potential Listing Price: Close to ₹ 126
Although it refers to the premium positive sentiment, it is considered a bit weak compared to other recent SME IPOS.
Allotment and refund dates
- September 4: Investors who will be allotted shares will be credited in their demat account. The refund process of investors who will not get shares will also start from September 4.
- September 5: Sneha Organics shares will be listed on NSE SME platform.
Use of amount raised from IPO
The company will use the amount raised from this public issue: in meeting the needs of working capital, repaying debt, and for other corporate purposes.
Company business and financial performance
Snehaa Organics mainly works in solvent recovery and recycling business and serves the pharmaceutical industry.
- Company income in FY25: ₹ 26.29 crore (10% increase)
- NET PROFIT: ₹ 7.34 crore more than doubled
- The company’s ever increasing growth and strong financial position is a positive signal for investors.
Main things for investors
Strong subscription and positive gray market premium indicate that light profits can be given on the listing. However, this is an SME IPO, so volatility can be high. This company offers a good possibility of growth for long-term investors, especially given its strong hold in pharma and recycling sector. Investors now look at the listing of September 5, where it will be decided how much returns Snehaa Organics will be able to give to investors.
