KN Agri IPO subscribed 2.4 occasions on day one, situation closed on Thursday

On Tuesday, the primary day of the problem, the IPO of KN Agri Assets was subscribed 2.4 occasions. Information offered by the inventory exchanges reveals that the providing has garnered bids for 15.5 million shares as towards 6.6 million shares. The difficulty closed on Thursday.

The corporate is trying to increase round Rs 50 crore by means of IPO. Its shares will likely be listed on the NSE Emerge platform, which caters to small and medium enterprises (SMEs). The worth band of the IPO is Rs 71-75 per share.

KN Agro is an built-in agriculture and meals firm. It has three seed processing models, two oil refineries and a flour mill in Madhya Pradesh.

Its purchasers embrace Adani Wilmar Restricted, Cargill India, Bunge India and Ruchi Soya. KN Agri had reported a web revenue of Rs 26.2 crore on income of Rs 1,301 crore in FY 2011.

Pricey reader,

Enterprise Customary has all the time labored onerous to supply up to date info and commentary on occasions which can be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on the way to enhance our providing has additional strengthened our resolve and dedication to those beliefs. Even throughout these tough occasions arising out of COVID-19, we’re dedicated to conserving you knowledgeable and up to date with related information, authoritative views and sharp feedback on related related points.
Nonetheless, we now have a request.

As we grapple with the financial influence of the pandemic, we’d like your help much more in order that we are able to proceed to give you extra high quality content material. Our subscription mannequin has obtained an encouraging response from a lot of you who’ve subscribed to our on-line content material. Subscribing to extra of our on-line content material can solely assist us obtain our targets of offering you with higher and extra related content material. We consider in impartial, unbiased and credible journalism. Your help by means of extra subscriptions may also help us observe the journalism we’re dedicated to.

help high quality journalism and Subscribe to Enterprise Customary,

digital editor

Supply hyperlink