The initial public offering (IPO) of Pajson Agro India has gotten off to a strong start, with institutional investors showing keen interest in the issue. The IPO, which opened for bidding today, has been fully booked with 45.30 lakh shares bid for against 41.79 lakh shares on offer.
The company aims to raise ₹74.45 crore from the issue, which will be used to set up a new cashew processing facility in Andhra Pradesh and for general corporate purposes. The price band for the IPO has been fixed at ₹112-118 per share, with a lot size of 1,200 shares.
The response from different investor segments has been varied, with Qualified Institutional Investors (QIBs) oversubscribing 3.54 times and Non-Institutional Investors (NIIs) subscribing 0.18 times. The retail segment has seen a modest response, with subscriptions at 0.09 times.
The company is a cashew processing company that supplies cashew kernels to domestic and international markets. It also sells by-products like cashew husk and shells for industrial and agricultural use. With a strong focus on quality and customer satisfaction, Pajson Agro India is looking to expand its operations and increase its market share in the agro-processing industry.
Disclaimer: Investors are advised to consult with certified experts before making any investment decisions.
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