The intial public offering of Leo Dry Fruits and Spices Trading Ltd., known for its range of spices, dry fruits and frozen products, which launched its initial public offering on the first day of New Year 2025, Jan. 1 will close for subscription on Friday, Jan. 3.

The SME IPO was subscribed 14.15 times on Thursday, led by demand from retail investors and non-institutional investors who bid close to 20 times the shares offered.

The company aims to mop up Rs 25.12 crore from the primary market through the issuance of 48.30 lakh shares.

Here’s all you need to know to about Leo Dry Fruits and Spices Trading IPO.

Leo Dry Fruits And Spices Trading IPO: Key Details

Leo Dry Fruits and Spices Trading IPO, open for bidding till Jan. 3, is a book-building offer with entirely a fresh issuance of 48.3 lakh shares. The offer size doesn’t include any offer-for-sale component. The allotment of shares in the SME public offer is scheduled to be finalised on Jan. 6, followed by the credit of shares into the demat account of successful bidders on Jan. 7. Refunds for the non-allottees will also be initiated on the same day.

Shares of Leo Dry Fruits and Spices Trading Ltd. are scheduled to make their market debut on the NSE SME platform, Emerge, on Jan. 8.

The company has reserved up to 50% of the net issue for qualified institutional buyers and 35% for retail investors. Non-institutional investors have been allocated 15% of the net issue size. 

With the Leo Dry Fruits and Spices Trading IPO price band set in the range of Rs 51 to Rs 52 per share, retail investors may invest in the issue with a minimum lot size of 2,000 shares. This results in a minimum investment of Rs 1,04,000 at the upper price for a single application. 

Leo Dry Fruits and Spices Trading Ltd. has appointed Shreni Shares Ltd. as the sole book-running lead manager for its IPO, whereas Bigshare Services Pvt. is its registrar. Rikhav Securities Ltd. is the Leo Dry Fruits and Spices Trading IPO market maker.

Leo Dry Fruits And Spices IPO Day 3: Subscription Status

The IPO has been subscribed 22.39 times as of 10:29 a.m. on Friday

  • Qualified Institutions: 1.01 times

  • Non-Institutional Buyers: 28.7 times

  • Retail Investors: 31.62 times

The subscription status will be updated at regular intervals.

Leo Dry Fruits And Spices IPO GMP Today

According to InvestorGain, the grey market premium for the Leo Dry Fruits and Spices IPO stood at Rs 18 as of 7:57 a.m. on Jan. 3. This suggests that the shares could list at Rs 70 each, reflecting a 34.62% premium to the upper end of the price band.

The GMP trends have shown an upward movement post day 1 when the issue was fully subscribed. Leo Dry Fruits and Spices IPO saw a muted response in the unlisted market ahead of its launch with the grey market premium on the company’s shares being Rs 0 on Jan. 1.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Also Read: How To Check Indo Farm Equipment IPO Allotment Status

Leo Dry Fruits And Spices IPO Day 2: Subscription Status

The IPO was subscribed 14.15 times on Thursday.

  • Qualified Institutions: 1 time

  • Non-Institutional Buyers: 17.35 times

  • Retail Investors: 20.12 times

Leo Dry Fruits And Spices Trading: Business And Financials

Leo Dryfruits and Spices Trading Ltd. is engaged in the manufacturing and trading of a variety of spices, dry fruits, ghee seasoning and other grocery products. Incorporated in 2019, the company primarily has two business verticals: trading and manufacturing and processing of spices. The company sells its products under the VANDU brand and its semi-fried products under the name FRYD. 

Use Of Proceeds

Leo Dry Fruits and Spices in its red herring prospectus has said that it plans to use the net proceeds from the issue to fund its working capital requirement and branding, advertisement and market activities.

A portion of the remaining funds will also be used for general corporate purposes. 

Financials

Leo Dry Fruits and Spices Trading Ltd posted a revenue of Rs 17.88 crore with a net profit of Rs 1.87 crore in the first six months of FY25. The company has shown a strong growth trajectory over the past few years, with revenues rising over 71% year-on-year to Rs 62.26 crore in FY24 from Rs 36.46 crore in FY23. Profit rose to Rs 6.63 crore in FY24 from Rs 3.63 crore in the previous fiscal. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.The grey market premium for the Leo Dry Fruits and Spices IPO stood at Rs 18 as of 7:57 a.m. on Friday, indicating an expected percentage gain of 34.62% per share.  Read MoreIPOs, Markets 

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