Uma Exports IPO oversubscribed on final day of the issue. Share allotment, listing date details here
Premium- The three-day initial public offering (IPO) of Uma Exports had opened this week on Monday, March 28, 2022
The three-day initial public offering (IPO) of Uma Exports had opened this week on Monday, March 28, 2022 and will conclude on March 30, 2022. The agri products trader and distributor company has aimed to raise ₹60 crore from its initial share sale. The company had fixed price band of the public issue at ₹65 to ₹68 per equity share.
As of 3 pm on the last day of the bidding, Uma exports IPO has been subscribed nearly 7 times with retail investors' category booked over 9 times and Non Institutional Investors (NIIs) bid 1.3x whereas Qualified Institutional Buyers (QIBs) bid 2.8 times, BSE data showed.
Likely date for the finalization of the share allotment is 4th April 2022. Bidder can check share allotment status either on the BSE website or on the website of official registrar of the IPO — MAS Services Limited. Meanwhile, shares of Uma Exports is expected to be listed on both NSE and BSE on 7th April 2022.
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“Uma Exports is engaged in the business of trading and marketing of agricultural produce and commodities like sugar, spices, lentils, etc. The company’s name suggest it to be an export company but majority of revenues come from domestic sales which is 90.34 per cent of total sales in FY2021 while exports contribute only 9.66 per cent to the revenue. The company has EBITDA margins of 2.83 per cent and PAT margins of 1.62 per cent only, which leaves no room of safety in case of adverse situations. Also, the business is cyclical in nature and the commodity prices have a characteristic of high volatility," said Abhay Doshi, Founder at UnlistedArena.com.
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