PNN
Mumbai (Maharashtra) [India], July 10: Aelea Commodities Limited, has announced its plan to go public with an Initial Public Offering (IPO) on July 12, 2024. The company is aiming to raise Rs 51 Crore at the price of Rs 95 per share through this IPO, with shares set to be listed on the BSE SME platform.
The issue size is Up to 53,68,800 equity shares at a face value of Rs 10 each.
Equity Share Allocation
* QIB Anchor Portion - Up To 15,28,800 Equity Shares
* Qualified Institutional Buyers (QIB) - Up To 10,20,000Equity Shares
* Non-Institutional Investors (NII) - Up To 7,65,600Equity Shares
* Retail Individual Investors (RII) - Up To 17,85,600Equity Shares
* Market Maker - Up To 2,68,800 Equity Shares
The net proceeds from the IPO will be utilized for the Setting up of a new manufacturing unit and Installation of Plant & Machinery thereon, the Purchase of Plant and Machinery at the existing manufacturing unit, and General Corporate Purposes. The bidding for Anchor portion will open on July 11, 2024, The issue will open for subscription for all other categories from July 12, 2024 and closes on July 16, 2024.
The Book Running Lead Manager to the Issue is Ekadrisht Capital Private Limited. The Registrar to the Issue isMaashitla Securities Private Limited.
Hozefa S Jawadwala, Chairman and Managing Director of Aelea Commodities Limited, stated, "We are glad to announce the launch of our Initial Public Offering (IPO), a significant milestone in Aelea Commodities Limited's journey. The funds raised from the IPO will be instrumental in setting up a new manufacturing unit, upgrading our existing facility, and further enhancing production efficiency and our commitment to delivering high-quality cashew products."
We are looking forward to leveraging these investments to drive innovation, improve operational efficiency, and expand our market presence both domestically and internationally. We are confident that this step will drive our growth and solidify our position in the market."
Abhishek Jhunjhunwala, Director of Ekadrisht Capital Private Limited said, "We are pleased to announce the Initial Public Offering (IPO) of Aelea Commodities Limited. Their expertise in processing and trading high-quality cashews is pivotal in driving their growth strategy forward. As the global cashew market expands, driven by the increasing adoption of vegan diets and nut-based products, the company is poised to capitalize on these trends with enhanced production capabilities and a commitment to excellence.
Their investment focus on new manufacturing facilities and advanced technology underscores their dedication to meeting rising demand while maintaining the highest quality standards. With strong support, they are confident in their ability to leverage market opportunities, drive operational efficiencies, and solidify their position as a leading player in the cashew processing and trading sector. Together, they look forward to a successful IPO and achieving sustainable growth in the dynamic cashew industry.
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