Snack maker Annapurna Swadisht’s SME IPO is subscribed by 190 times

• Kolkata-based Annapurna Swadisht has received bids for ₹3,835 crore as against issue size of ₹30.25 crore.
• The IPO opened for subscription from September 15 to September 19.
• Shares of the company will get listed on the SME NSE platform.

Kolkata-based Annapurna Swadisht which recently closed its IPO on September 19 has been subscribed by 190.49 times by investors.

The IPO opened for subscription from September 15 to September 19.

The IPO is different from the rest of the lot as it will be listed on the NSE SME platform. NSE SME is the platform at the National Stock Exchange for small and medium enterprises to list their shares publicly. The companies can migrate to the mainboard of exchange after fulfilling certain conditions.

The IPO received bids of ₹3,835 crore as against issue size of ₹30.25. The price band of the IPO was at ₹68-70 per share.
The company will have to mandatorily be listed and traded on the SME Platform of BSE for a minimum period of two years from the date of listing and only after that it can migrate to the main board of the NSE as per the SEBI guidelines.

The company is a manufacturer of snacks and food products under its brand ‘Annapurna’ where it sells -- fryums, cakes, candy, namkeen, chips and Gohona Bori. It sells products under brand names such as Jackpot, Chatpata Moon, Balloon, Finger, Rambo, Makeup Box, Dhamaka, Phoochka, Jungle Adventures, Ringa, Bachpan Ka Pyaar, Kurchure, Cream Filled Cake Vanilla, Cream Filled Cake Litchi, among others.

The company has two manufacturing units in Asansol and Siliguri.

The company plans to utilise the net proceeds from the IPO for funding the capital expenditure requirements and general corporate purposes.

The IPO will be listed on exchanges on September 27.

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