The IPO of NFP Sampoorna Foods will open for subscription on Monday, with grey market signals indicating a muted listing outlook ahead of the issue launch. According to market trackers, the IPO was commanding a grey market premium (GMP) of 0%, suggesting no premium over the upper end of the issue price band in the unofficial market.
The NSE SME issue aims to raise around Rs 24.53 crore through an entirely fresh issue of 44.6 lakh shares. The IPO will remain open for subscription between May 18 and May 20, while the tentative listing date has been fixed as May 25 on the NSE SME platform.
The company has fixed the price band at Rs 52-55 per share. Investors can bid for a minimum of 2,000 shares, but retail applicants will have to apply for at least two lots or 4,000 shares, translating into a minimum investment of Rs 2.2 lakh at the upper end of the price band.
For small non-institutional investors, the minimum application size has been fixed at 6,000 shares amounting to Rs 3.3 lakh. The IPO consists entirely of a fresh issue, meaning the company will receive the full proceeds from the public issue.
Incorporated in 2019, NFP Sampoorna Foods operates in the dry fruits processing and distribution segment with a primary focus on cashew nuts. The company imports raw cashew material mainly from African countries and processes it for domestic distribution.
Apart from cashews, the company also offers almonds, makhana and gift packs targeted at health-conscious consumers and festive demand.
The flat GMP suggests grey market participants are currently not expecting significant listing gains from the issue. In the SME market, GMP is often closely tracked by retail investors as an indicator of informal market sentiment ahead of listing, though it does not guarantee actual market performance after debut.
3Dimension Capital Services is the book-running lead manager to the issue, while Skyline Financial Services is acting as the registrar. Anant Securities is the market maker for the IPO.
