By Sheetal Kumari | March 3, 2025
MC Desk | August 12, 2025
The IPO saw overwhelming demand, with bids for 12.5 crore shares against 2.1 crore on Day 1.
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Non-Institutional Investors subscribed their quota nearly 11 times, leading the charge.
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Retail participation was strong, with nearly 6x subscription for their portion.
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Qualified Institutional Buyers subscribed 3x of their reserved quota.
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Grey market premium jumped to 23–24.5% over the IPO price, signalling bullish sentiment.
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Min. lot: 144 shares (Rs 14,688 at upper band). Allotment on Aug 18, listing on Aug 20.
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Kolkata-based maize starch & derivatives maker catering to food, paper, feed & adhesives sectors.
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High RoE (20.25%), strong EPS, low P/E vs peers; sector experience among promoters.
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High leverage remains a key risk; success hinges on balancing expansion with debt reduction.
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Moneycontrol advises users to check with certified experts before taking any investment decisions.
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