Arunaya Organics IPO subscribed over 2.5x, led by retail investors; check GMP, issue details, more

Arunaya Organics IPO, which opened for subscription on Tuesday, April 29, concluded today, May 2. Arunaya Organics IPO price band has been set between ₹55 and ₹58 per equity share, with a face value of ₹10 each. Investors can place bids for a minimum of 2,000 equity shares and in increments of 2,000 shares thereafter.

Established in 2010, Arunaya Organics Limited focuses on the manufacturing and exportation of specialty dyes and intermediates. The company has developed a strong reputation for delivering high-quality chemical products across various industries, including textiles, paints, plastics, mining, and food processing.

Their product range includes different forms such as standardized spray-dried and tray-dried powders, granules, crude materials, reverse osmosis-treated products, and options that are salt-free.

According to the red herring prospectus (RHP), the company's comparable listed peers include Vipul Organics Limited (with a P/E ratio of 72.94), Mahickra Chemicals Limited (with a P/E ratio of 81.43), and Ducol Organics & Colours Ltd (with a P/E ratio of 34.96).

Arunaya Organics IPO subscription status

Arunaya Organics IPO subscription status is 2.53 times, on day 3. The retail portion was subscribed 4.33 times, and NII portion was booked 1.49 times. Qualified Institutional Buyer (QIBs) was booked 1.01 time.

The company has received bids for 1,40,78,000 shares against 55,64,000 shares on offer, at 5.45 pm, according to data on chittorgarh.com

Arunaya Organics IPO details

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 plans to allocate the net proceeds from the offering for various purposes, such as setting up a new manufacturing facility in Gujarat, fulfilling the company's working capital requirements, and addressing general corporate goals.

Unistone Capital Pvt Ltd is the lead manager for the Arunaya Organics IPO, while Bigshare Services Pvt Ltd is the registrar for the offering. The market maker linked to the Arunaya Organics IPO is R.K. Stock Holding Private Limited.

Arunaya Organics IPO GMP today

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.

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