Aristo Biotech SME IPO to open next week, check GMP, price and other details

Market


The Initial Public Offer (IPO) of Aristo Bio – Tech And Lifescience Limited will take place in the next week, on January 16, 2023. By issuing 18,12,800 shares at a price of 72 per share, which would be sold in lots of 1,600 shares, the company anticipates raising 1,305.22 lakhs of issue size. 8,60,800 shares, or 50% of the net issue, are held by HNIs, whereas retail Investors make up the remaining 50% or 8,60,800 shares. 

Beeline Capital Advisors Private Limited, a renowned merchant banking company in Gujarat, is the issue’s lead manager. Link Intime Financial Services Private Limited is the issue’s registrar. Out of the total IPO to be raised, Rs. 1,305.22 lakhs will be divided as follows: Rs. 935.22 lakhs will be used to fulfil the company’s working capital requirements; Rs. 250.00 lakhs will be used for general corporate purposes; and Rs. 120.00 lakhs will be used to cover issue charges.

Chairman and Managing Director, Aristo Bio-Tech And Lifescience Limited, Mr. Narendra Singh Barhat, said, “IPO funding will help us in growing our company to next stage as we have enough capacity in our existing setup and good team what we need is working capital to fuel our growth and IPO funding will provide that.”

The latest IPO Grey Market Premium (GMP) of Aristo Bio-Tech and Lifescience is 11 as of today. The expected listing price for the Aristo Bio-Tech and Lifescience SME IPO is 83 which includes the maximum issue price taking into account the issue price of 72 per share plus today’s GMP. In light of the current GMP, the expected listing price is at a 15.28% upside level. The issue will close on January 19th, 2023, and thereafter list on the NSE Emerge platform. The anticipated SME IPO Listing Date is January 27, 2023. The highest IPO GMP was achieved today for Aristo Bio-Tech and Lifescience at a price of 11, while the lowest GMP was registered on January 10, 2023, at 9. One should not rely on what the grey market premium (GMP) represents, which is the price at which an initial public offering (IPO) is traded on an unofficial or non-regulated grey market before it is listed on the respective stock exchange.

Ravi Singh, Vice President and Head of Research at Share India said “Indian economy majorly depends on agriculture and biotechnology is a key to India’s agriculture future. Aristo Biotech has a robust market in India and an export market, for its products including insecticides, herbicides, etc. The company’s financial performance has also shown stable growth and improved earnings each quarter. We recommend investors may subscribe to this IPO from a long-term perspective.”

Avinash Gorakshakar, Head of Research, Profitmart Securities said “Aristo Bio tech is a leading agrochemical player enjoying a diversified basket of technical and branded formulations in its product basket. Financially it has put up a decent performance in FY22 and hopefully in FY23 also the co will be recording healthy growth in both topline and profits. We believe the domestic agrochemicals industry presents a strong business opportunity ahead for the next 2 to 3 years going ahead. Looking at the company’s long-term prospects, one can subscribe with a time frame of 2 years.”

Insecticides, herbicides, fungicides, and plant growth regulators are just a few of the many product categories that Aristo Bio – Tech And Lifescience Limited is involved in.


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