Arunaya Organics IPO opens for subscription: Check key details, GMP, price band, and more

Synopsis

Arunaya Organics is launching its IPO on April 29, aiming to raise Rs 34 crore through a fresh issue and offer for sale. The IPO proceeds will fund a new manufacturing facility and working capital needs.

Arunaya Organics is set to launch its initial public offering (IPO) for subscription on April 29, with the issue closing on May 2. The IPO, through which the company aims to raise Rs 34 crore, comprises a fresh issue of 52.60 lakh shares amounting to Rs 30.51 crore and an offer for sale (OFS) of 6 lakh shares up to Rs 3.48 crore.

The IPO proceeds will be used to set up a new manufacturing facility, fund working capital needs, and for general corporate purposes.

IPO pricing and investment details

Investors can bid for the IPO at a price band of Rs 55 to Rs 58 per share. Retail investors can bid for a minimum of 2000 shares, which translates to a minimum investment of Rs 1.16 lakh. For high-net-worth individuals (HNIs), the minimum investment requirement is 2 lots, or Rs 2.32 lakh.

Key dates and timeline

The Arunaya Organics IPO will open for subscription on April 29 and close on May 2. Allotment details are expected to be finalized on May 5. The tentative listing date for the company on the NSE SME platform is set for May 7.

Issue structure

In the IPO, about 40% each is reserved for retail investors and non-institutional investors, and the remaining 20% is allocated for qualified institutional buyers (QIBs).

About Arunaya Organics

Arunaya Organics specializes in manufacturing and exporting specialty dyes and intermediates. With an annual production capacity of 30 metric tons, the company has built a strong reputation for providing high-quality chemical products for industries such as textiles, paints, plastics, mining, and food processing.

Financial Overview

For the fiscal year ending March 2024, Arunaya Organics posted a revenue of Rs 62.79 crore and a profit after tax (PAT) of Rs 4.06 crore.

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