On Tuesday, October 10, 2023, the shares of City Crops Agro Limited made a lukewarm opening on BSE SME as the index was listed at 2 percent higher than the price of the share when it was issued at Rs 25. On BSE SME, City Crops Agro Limited’s share price was at 25.50 for each share showing a tepid debut of the index. However, the price band of City Crops Agro Limited IPO was fixed at Rs 25 per equity share with a face value of Rs 10 each. We have a lot more to share with you in this article regarding the City Crops Agro Limited IPO. In case, you are scrambling to the web regarding the City Crops Agro Limited share price, the following sections will tell you at what premium City Crops Agro Limited share started on Tuesday and by how much points it surged. Swipe down the page.
Reportedly, the City Crops Agro Limited IPO lot size was 6000 equity shares and in multiple of 6000 equity shares after the price band of the City Crops Agro Limited IPO was set at Rs 25 per equity share with a face value of Rs 10 per share. The price was 2.5 times the face value of the equity shares when it was issued. On Friday, September 29, City Crops Agro IPO closed and on Tuesday, September 26, opened for subscription. Take a look below to get the details of City Crops Agro Ltd IPO details.
Details You Need To Know About City Crops Agro IPO
Talking about the promoters of the company, the promotions of the company are being done by Shitalben Kaupilkumar Shah and Kaupilkumar Hamukhbhai Shah. What is the worth of City Crops Agro? Reportedly, the current value of City Crops Agro Ltd is Rs 15 crores which is the fresh issue of 6,000,000 equity share. Kindly note that there is no OFS (Offer-For-Sale) component in this IPO.
City Crops Agro Ltd is planning to use the net proceeds from the offering to fulfill working capital requirements, cover issue-related expenses, and fund general corporate purposes. Turnaround Corporate Advisors Pvt Ltd is the book-running lead manager of the issue and Skyline Financial Services Pvt Ltd is the registrar of the issue. According to RHP (Red Herring Prospectus), 3,00,000 equity shares out of 60,00,00 equity shares at a face value of Rs 10 each at a price of Rs 25 per equity share aggregating to Rs 75 lakhs is reserved for the market makers.