Arunaya Organics share price makes a weak debut, stock opens with 48.10% discount at ₹30.10 apiece on NSE SME
Arunaya Organics share price made a weak debut on NSE SME today amid Indo-Pak conflict. Arunaya Organics share price today opened at ₹ 30.10 which is 48.10% lower than the issue price of ₹ 58.
The initial public offering (IPO) of Arunaya Organics had a subscription period that ran from Tuesday, April 29 until Friday, May 2. With a face value of ₹ 10, shares in the Arunaya Organics IPO are priced at ₹ 58. At least 2,000 of those shares are up for bid, and there are multiples of those shares available. Arunaya Organics IPO subscription status was 2.53 times on the last day of bidding, as per chittorgarh.com
Founded in 2010, Arunaya Organics Limited specializes in the production and export of specialty dyes and intermediates. The company has earned a solid reputation for providing high-quality chemical products to numerous sectors, including textiles, paints, plastics, mining, and food processing.
Their product offerings consist of various forms such as standardized spray-dried and tray-dried powders, granules, raw materials, reverse osmosis-treated items, and salt-free alternatives.
As stated in the red herring prospectus (RHP), the company's listed peers with similar profiles include Vipul Organics Limited, which has a P/E ratio of 72.94, Mahickra Chemicals Limited with a P/E ratio of 81.43, and Ducol Organics & Colours Ltd, which has a P/E ratio of 34.96.
Arunaya Organics IPO consists of a fresh issue of 52,60,000 equity shares, aggregating to ₹ 30.51 crore, and an offer-for-sale (OFS) of 3.48 crore equity shares by the promoters selling shareholder.
The Arunaya Organics IPO intends to use the net proceeds from the offering for several purposes, including establishing a new manufacturing facility in Gujarat, meeting the company's working capital needs, and pursuing general corporate objectives.
Unistone Capital Pvt Ltd serves as the lead manager for the Arunaya Organics IPO, while Bigshare Services Pvt Ltd acts as the registrar for the offering. R.K. Stock Holding Private Limited is the market maker associated with the Arunaya Organics IPO.
Arunaya Organics IPO GMP or grey market premium was ₹ 0, which meant shares were trading at their issue price of ₹ 58 with no premium or discount in the grey market according to investorgain.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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