Snehaa Organics IPO: The initial public offering (IPO) of Snehaa Organics opened for public subscription on Friday, August 29, and will remain so until Tuesday, September 2. The ₹ 32.68 crore SME IPO is a fresh issue of 26,79,000 shares.
Snehaa Organics IPO subscription status
By 1:30 PM on Friday, the issue had seen an overall subscription of 1.16 times, with the retail portion booked 1.7 times, and the segment reserved for NIIs subscribed to 0.67 times. QIB’s portion was booked 1 time.
Snehaa Organics IPO details
1. Snehaa Organics IPO GMP: According to market sources, the latest grey market premium (GMP) of Snehaa Organics shares was ₹32. The latest GMP indicates the stock could be listed at a premium of 26 per cent.
2. Snehaa Organics IPO date: The SME IPO opened for subscription on Friday, August 29. It will conclude on Tuesday, September 2.
3. Snehaa Organics IPO price: The price band of the IPO has been fixed at ₹115 to ₹122 per equity share.
4. Snehaa Organics IPO size: The company aims to raise ₹32.68 crore from this issue, which it intends to use to meet its working capital requirements, repay some loans, for general corporate purposes, and to cover the issue expenses.
5. Snehaa Organics IPO lot size: Retail investors can bid for a minimum and maximum of 2,000 shares in this SME IPO.
6. Snehaa Organics IPO reservation: Retail investors have been offered 12,10,000 shares, or 45.17 per cent of the net issue, while the company has reserved 12,09,000 shares, or 45.13 per cent of the net issue, for non-institutional investors (NIIs). 1,26,000 shares have been reserved for qualified institutional buyers (QIBs).
7. Snehaa Organics IPO allotment date: The IPO is closing on Tuesday, September 2. So, the company is expected to finalise the share allotment next day on Wednesday, September 3. Successful bidders can expect shares of the company in their demat accounts on Thursday, September 4, and bidders who fail to get the allocation may get a refund on the same day.
8. Snehaa Organics IPO book-running lead manager and registrar: According to the issue’s Red Herring Prospectus (RHP), Fast Track Finsec Pvt. Ltd. is the book-running lead manager, and Skyline Financial Services Pvt.Ltd. is the registrar.
9. Snehaa Organics IPO listing: As per SEBI’s T+3 rule of IPO listing, the IPO is proposed for listing on the NSE SME on Friday, September 5.
10. Snehaa Organics business overview: According to the issue’s RHP, the company operates in the solvent recovery and recycling sector, providing sustainable solutions for industries that utilise solvents in their processes.
For FY24, the company earned a profit of ₹3.7 crore, which rose to ₹7.3 crore next year. Revenue from operations rose to ₹26.22 crore in FY25 from ₹23.72 crore in FY24.