Powerful Debut! The share price of Leo Dryfruits & Spices is ₹68, which is 31% higher than the IPO price.

Leo Dryfruits & Spices dropped to ₹66.50 after debuting on the BSE SME at ₹68, 31% higher than the issue price of ₹52. Non-institutional buyers showed a great deal of interest in the IPO, as seen by the 181.77 subscriptions. The company wants to be more visible in the market.

Leo Dryfruits & Spices Trading IPO Listing: On Wednesday, January 8, 2024, Leo Dryfruits & Spices made a big market debut as its stock was listed on the BSE SME for ₹68 per share, 31% more than the issue price of ₹52. The stock fell 2.2% to its current trading price of ₹66.50 after making a great beginning.

Between January 1 and January 3, the ₹25.12 crore SME IPO was available for subscription at a price range of ₹51 to ₹52 per share.A total of 48.30 lakh equity shares were issued in a new issue during the IPO.

Non-institutional purchasers and retail investors responded very well to the issue, booking sections 394 times and 154 times, respectively, resulting in an 181.77 subscription rate. The exchange data shows that the qualified institutional buyers (QIBs) part was subscribed 68 times.

The business intends to use the net proceeds from the offering to finance its general corporate objectives, branding, marketing, and advertising campaigns, as well as working capital needs.

Regarding Leo Dry Fruits
A variety of spices, dried fruits, and other grocery items are manufactured, processed, traded, and marketed by the company under the VANDU brand, and frozen and semi-fried goods are sold under the FRYD brand.

Under the spices category, it currently supplies a variety of whole spices and blended spices; under the dry fruits category, it offers plain, roasted, and flavored dry fruits; and under the other grocery products category, it offers ghee, different kinds of seasoning, chiz bites, poppy seeds, sesame seeds, and many other items in a range of packaging sizes.

At the moment, the state of Maharashtra accounts for the majority of the company's sales. According to the company's DRHP report, its sales for the fiscal year ended March 31, 2024, 2023, and 2022 were ₹6,011.99 Lakhs, ₹3,368.88 Lakhs, and ₹489.70 Lakhs from Maharashtra, which represent 96.71%, 92.45%, and 93.00% of the revenue from operations, respectively.

Both international markets and other states in the nation are potential destinations for the company's business operations.