Sameera Agro IPO to open on December 21; check price band and other details

The initial public offering (IPO) of Sameera Agro and Infra will open for bidding on Thursday, December 21, 2023. The company will be offering its shares at a price of Rs 180 apiece with a lot size of 800 equity shares. The bidding for the issue will conclude on Wednesday, December 27, 2023.

Sameera Agro And Infra, formerly known as Sameera Homes, is an infrastructure development and construction company, incorporated in 2002. It plans, develops, and constructs residential and commercial spaces, apartments, townships, multistoried complexes, gated communities, landscapes, bridges, flyovers, subways, alleys, industrial parks and more.

The company is looking to raise a total of 62.64 crore via IPO route, which entirely includes a sale of 34.80 lakh equity shares. It is a fixed price band issue, which shall be listed at emerge platform of the National Stock Exchange (NSE) on January 1, 2024.

Investors can make a bid for a minimum of 800 equity shares, or its multiples thereafter, amounting to Rs 1,44,000. Retail investors can bid for a single lot or 800 equity shares, while non-retail investors need to bid for a minimum of two lots or 1,600 equity shares amounting to at least Rs 2,88,000 equity shares.

The net proceeds from the issue shall be utilised towards construction of ongoing projects; construction of a new multiplex; to meet the existing working capital requirement for the agro-business; and general corporate expenses. First Overseas Capital is the sole manager to the issue, while Kfin Technologies is the registrar for the IPO.

Sameera Agro And Infra expanded its business activities and ventured into processing, drying, sale, purchase, marketing, and distribution of agricultural commodities of pulses, cereals, grains, such as urad dal, moong dal, toor dal, peeled and unpeeled, mung dal, black grans, green gram, mung beans, red lentils, yellow dal, split yellow peas and more.

It has a leased manufacturing and processing unit near Hyderabad which is accessible for all the three states- Telangana, Karnataka and Maharashtra. The Company is also in the process of acquiring processing mills on a lease basis at Guntur and Rajahmundry in Andhra Pradesh.

It has reserved 184,000 equity shares for the market maker portion, which is SVCM Securities for Sameera Agro. The company has reserved 50 per cent of the net offer for retail investors, while the remaining of 50 per cent of the issue shall be allocated towards other investors for the issue.

Sameera Agro And Infra' revenue increased by 31.79 per cent to Rs 138.82 crore and profit after tax (PAT) rose by 266.1 per cent to Rs 10.04 crore for the FY23 on a year-on-year (YoY) basis. The company reported a net profit of Rs 6.92 crore with a revenue of Rs 94.37 crore for the period ended on September 30, 2023.

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