Leo Dryfruits and Spices SME IPO Day 3: GMP, price band, subscription, key dates and other details

The SME initial public offering (IPO) of Leo Dryfruits and Spices Trading, which opened for subscription on Wednesday, has been subscribed 24.88 times on the third and final day of the bidding process.

At 11:10 am, subscriptions from retail investors stood at 35.58 times, while the non-institutional investors had subscribed by 24.17 times on the last day of bidding. Meanwhile, the qualified institutional buyers' portion was subscribed 1.01 times

The Rs 25.12 crore IPO is entirely a fresh issue of 48.30 lakh equity shares.


Leo Dryfruits and Spices plans to use the proceeds from the issue in funding the working capital requirements of the company, branding, advertisement and marketing activities and general corporate purposes.

Leo Dryfruits and Spices Trading price band

The company has fixed a price band of Rs 51-52 per share, where investors can bid for 69 shares in one lot.

GMP for Leo Dryfruits and Spices Trading

The GMP of Leo Dryfruits and Spices is currently Rs 9-10 in the unlisted markets, which indicates a premium of 17% over the issue price.

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About Leo Dryfruits and Spices Trading

Leo Dryfruits and Spices is engaged in the manufacturing/processing, trading and marketing of a wide range of spices, dry fruits and other grocery products under the brand name “VANDU” and frozen/semi fried products under the brand name of “FRYD”.

The company is currently engaged in supplying various whole spices and blended spices under the spices category, plain, roasted and flavored dry fruits under the dry fruits category and ghee, various types of seasoning, chiz bites, poppy seeds, sesame seeds and many more under other grocery products category in different packaging sizes.

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Leo Dryfruits and Spices Trading financial performance

The revenue from operations for the company in March 2024 was Rs 6,216.59 lakh, representing a YoY increase of 70.56% compared to March 2023. Meanwhile, the profit after tax jumped 79% YoY to Rs 958.68 lakh for the fiscal year ended March 2024.

Leo Dryfruits and Spices Trading listing and allotment date

The IPO of Leo Dryfruits and Spices opened for public subscription on January 1 and will be available to bid for till January 3. Meanwhile, the allotment for the IPO is expected to be finalised on January 6 and the listing of shares will be on January 8.

Lead managers and Registrar

Shreni Shares Limited is the book running lead manager to the issue while the registrar to the issue is Bigshare Services. The equity shares are proposed to be listed on BSE SME platform.

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