The initial public offering (IPO) of Mother Nutri Foods, which opened for subscription today, November 26, received a healthy response from investors. By the end of the day 02, the issue was subscribed 1.34 times, with 29.43 lakh shares bid for against the 22 lakh shares on offer.
The NII portion was subscribed 2.54 times, while the retail investor segment was booked at 1.04 times. The QIB quota was subscribed 0.95 times, according to exchange data.
Mother Nutri Foods Issue Details
The ₹39.59 crore issue comprises a combination of a fresh issue of 0.27 crore shares aggregating ₹31.67 crore and an offer for sale of 0.07 crore shares aggregating ₹7.92 crore.
The price band has been fixed at ₹111– ₹117 per share, while the lot size is set at 2,400 shares, requiring a minimum investment of ₹2,80,800 for retail investors. The SME IPO is proposed to list on the BSE SME platform, tentatively on Wednesday, December 03.
The company plans to utilize the proceeds from the issue for setting up a new manufacturing facility located at Mahuva, Bhavnagar in Gujarat, and for general corporate purposes.
In other issue details, the Mother Nutri IPO allotment of shares is expected to be finalized on Monday, December 01. The company will initiate refunds on Tuesday, December 02, and the shares will be credited to the demat accounts of allottees on the same day following refunds.
Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. is the book running lead manager, and Bigshare Services Pvt. Ltd. is the registrar of the issue. The Market Maker of the company is Mansi Share & Stock Broking Pvt. Ltd.
Meanwhile, as per market sources, the grey market premium (GMP) for Mother Nutri Foods is nil, indicating that the stock might debut on the exchanges at the IPO price or possibly at a discount.
About Mother Nutri Foods
The company is a B2B peanut butter manufacturer offering multiple flavors and variants, selling under its own brand in countries like Libya, Dubai, and Japan. It also provides private labelling for domestic and international clients across over 20 countries, handling production, supply, and quality control while clients sell under their own brand.
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