Quanto Agroworld Debut Slips 5% Below IPO Price
Quanto Agroworld shares fell to ₹63.65 on BSE SME, marking a 5% drop from the ₹67 issue price.
Key points
- Quanto Agroworld shares opened at ₹66.99 and fell to ₹63.65 on BSE SME.
- The company raised ₹31.02 crore through a fresh issue of 46.30 lakh shares.
- The IPO received 1.39 times overall subscription, with NII demand at 1.66 times.
Quanto Agroworld shares opened at ₹66.99 on the BSE SME platform on Tuesday, slightly below the ₹67 IPO issue price. By 10:08 AM IST, the stock had declined to ₹63.65, representing a 4.99% drop from its debut level.
The listing followed a ₹31.02 crore fixed-price IPO that was entirely a fresh issue of 46.30 lakh shares. According to data reported by HDFC Sky, the issue received 1.39 times overall subscription, with no offer-for-sale component included in the offering.
IPO Structure And Subscription Details
The company raised ₹31.02 crore through the sale of 46.30 lakh new shares, reserving 2.32 lakh shares for the market maker. The net offer to the public was 43.98 lakh shares, with bids received for 61.24 lakh shares in total.
Subscription patterns showed a divergence between investor categories. The Non-Institutional Investor (NII) segment was subscribed 1.66 times, while the retail portion received only 0.79 times subscription. Retail investors placed bids for 17.28 lakh shares against an offer of 22 lakh shares.
Retail Participation And Application Data
The minimum retail application required a purchase of 4,000 shares, amounting to an investment of ₹2.68 lakh at the issue price. The issue attracted a total of 587 applications from both retail and NII investors.
Early Trading Session Performance
Trading began almost in line with the IPO price before the stock moved lower during the initial session. At ₹63.65, the share price was ₹3.34 below the opening price and ₹3.35 below the original issue price.
