27 Mar , 2024 By : Debdeep Gupta
Shares of Chatha Foods Limited are listed at Rs 73, a premium of 30.36 percent over the issue price of Rs 56 on the BSE SME. The Rs 34-crore offer got a good response and was subscribed 19.28 times.
Established in 1997, Chatha Foods specializes in processing frozen food products such as chicken appetizers, meat patties, chicken sausages, and sliced meat. Its clients include quick-serving restaurants (QSRs), casual dining restaurants (CDRs), and other entities in the hotel-restaurant-catering segment.
The company plans to use funds for setting up a new manufacturing unit and general corporate purposes.
The IPO, entirely a fresh issue of 59.62 lakh shares, closed for subscription on March 21. Retail investors bought 14.60 times their quota of shares, qualified institutional buyers 8.54 times and high-networth individuals purchased 44.52 times the portion set aside for them.
The price band for the offer was Rs 52-56 a share. Indorient Financial Services Ltd was the book-running lead manager of the IPO and Skyline Financial Services Private Ltd was the registrar for the issue. The market maker was Alacrity Securities.
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