NFP Sampoorna Foods’ initial public offering (IPO) has been subscribed 1.26 times as of the third day of its subscription period, which closes today. The company aims to raise ₹24.53 crore by issuing 44.6 lakh shares priced between ₹52 and ₹55 each, according to livemint.com.
The IPO opened on 18 May and is set to close on 20 May. Investors are allowed to apply for a minimum of 2,000 equity shares, with subsequent applications in multiples of 2,000 shares. The shares have a face value of ₹10 each. The subscription rate of 1.26 times indicates a positive response from the market within the three-day window.
This IPO is significant as NFP Sampoorna Foods operates in the dry fruits sector, a niche but growing segment in India’s food industry. Raising ₹24.53 crore through this public offering will help the company expand its operations and enhance its market presence. The subscription level also reflects investor interest in food-related SMEs, a sector that has seen increasing activity in recent years.
Following the close of the IPO today, the company will proceed with allotment of shares to investors. Market participants will watch for the final subscription numbers and listing date, which will determine the initial trading performance of NFP Sampoorna Foods on the stock exchange. The funds raised are expected to support the company’s growth plans in the competitive dry fruits market.