Sampoorna Foods IPO Sees 1.26x Subscription on Third Day

NFP Sampoorna Foods IPO Opens for Subscription

The NFP Sampoorna Foods Initial Public Offering (IPO) has begun accepting subscriptions from investors, starting on Monday, 18 May, and will close on Wednesday, 20 May. The company has set a price band of ₹52 to ₹55 per equity share, with a face value of ₹10 each. Investors can apply for a minimum of 2,000 equity shares, in multiples of 2,000 thereafter.

Company Overview

NFP Sampoorna Foods specializes in processing and distributing high-quality dry fruits, primarily focusing on cashew nuts. The company sources its raw cashew materials mainly from Africa and adheres to strict quality control standards throughout its operations. It is certified with ISO 9001:2015 and ISO 22000:2018, highlighting its commitment to quality management and food safety.

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Product Range and Distribution

The company's product range includes cashew nuts, almonds, makhana (fox nuts), and custom gift packs tailored for both retail and corporate clientele. NFP Sampoorna Foods employs advanced technologies in roasting and packaging to preserve freshness and nutritional integrity. The company promotes its products through traditional retail channels and online marketplaces such as Amazon, Flipkart, and its official website.

IPO Details

The NSE SME issue aims to raise around ₹24.53 crore by issuing 44.6 lakh new shares. For retail investors, the minimum investment requirement is 6,000 shares, amounting to ₹3.3 lakh. The IPO consists exclusively of new shares, meaning the company will retain all the funds raised from the public offering. 3Dimension Capital Services is the designated book-running lead manager for this offering, while Skyline Financial Services is serving as the registrar. Anant Securities has been appointed as the market maker for the IPO.

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IPO Subscription Status

As of day 3, the IPO subscription status has reached 1.26x. The retail portion was subscribed at 2.21x, the Non-Institutional Investor (NII) portion was booked at 30%, and the Qualified Institutional Buyers (QIBs) portion has received 1x bidding. The company has received bids for 53,24,000 shares against 42,36,000 shares on offer at 12:00 IST, according to BSE data.

Grey Market Premium

The grey market premium (GMP) for NFP Sampoorna Foods IPO was ₹0, indicating shares were trading at the issue price of ₹55 with no premium or discount in the grey market, according to investorgain.com. The GMP has been in a downward trend over the past eight sessions and is expected to decline further, with a minimum GMP of ₹0.00 and a maximum of ₹8.