The Rs 60 crore-IPO of Uma Exports saw a solid response, particularly from retail buyers. The issue, which was open for subscription on Monday, March 28, sailed through on the first day itself and continued to witness a solid response on the second day of the bidding. The issue will close on March 30. Shares of Uma Exports are yet to make its debut in the grey market. So, Uma Exports IPO GMP (grey market premium) is still not available on the second day of bidding.
Uma Exports IPO: Subscription Status
According to data from BSE, the issue was subscribed a little more than three times by 11.25 am on Tuesday. Investors made bid for 2,78,06,900 equity shares as against 92,30,769 offered in the issue. The portion reserved for retail bidders was subscribed 4.2 times, whereas HNI allocation was booked 47 per cent. The quota for qualified institutional buyers was not even off the mark.
Uma Exports IPO: Subscription Date
The public issue opened on 28th March 2022 and it will remain open for bidding till 30th March 2022. Agri products trader and distributor company aims to raise Rs 60 crore from its public offer.
Uma Exports IPO: Price Band
The Company has a fixed price band for the public issue at Rs 65 to Rs 68 per equity share.
Uma Exports IPO: Lot Size
A bidder will be able to apply in lots and one lot will comprise 220 company shares. One bidder can apply for a minimum of one lot and a maximum of 13 lots. As one bidder can apply for a minimum of one lot and a maximum of 13 lots. A bidder will require a minimum of Rs 14,960 ( Rs 68 x 220) to apply for the IPO whereas a bidder can invest a maximum of Rs 1,94,480 [( Rs 68 x 220) x 13] in Uma Exports IPO.
Uma Exports IPO: Allotment & Listing Date
The likely date for share allotment is April 4, 2022. Bidders can check share allotment status either on the BSE website or on the website of the official registrar of the IPO — MAS Services Limited. Shares of Uma Exports will be listed on both NSE and BSE and the likely date for share listing is April 7, 2022.
Uma Exports IPO: What Do Analysts Say?
Highlighting upon the fundamentals of the company; Abhay Doshi, Founder at UnlistedArena.com said, “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.”
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