Sita Shree IPO subscribed 0.80 times
The initial public offering of Sita Shree Food Products was subscribed 0.80 till 1 pm on Friday, as per the NSE website. The issue closes on Friday.
By INDIATIMES NEWS NETWORK |
MUMBAI: The initial public offering of Sita Shree Food Products was subscribed 0.80 till 1 pm on Friday, as per the NSE website. The issue closes on Friday.
The issue received 93.13 lakh bids. Around 20.07 lakh bids were received at cut off price.
The company has set a price band of Rs 27- Rs 30 per share aggregating to Rs 31.50 crore.
The company plans to utilize the net proceeds to part finance its Rs 48.12-crore expansion. This includes setting up of a solvent extraction plant having 500 tonne per day capacity, a oil refinery for solvent extraction plant having 100 tpd capacity, a lecithin plant for processing the by products of solvent extraction plant having 5 tpd capacity, and a flour mill of 275 tpd. The project will be set up at Badiakima, Indore, Madhya Pradesh.
The issue received 93.13 lakh bids. Around 20.07 lakh bids were received at cut off price.
The company has set a price band of Rs 27- Rs 30 per share aggregating to Rs 31.50 crore.
The company plans to utilize the net proceeds to part finance its Rs 48.12-crore expansion. This includes setting up of a solvent extraction plant having 500 tonne per day capacity, a oil refinery for solvent extraction plant having 100 tpd capacity, a lecithin plant for processing the by products of solvent extraction plant having 5 tpd capacity, and a flour mill of 275 tpd. The project will be set up at Badiakima, Indore, Madhya Pradesh.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
