Swasth Foodtech share price makes a flat debut, lists at IPO price of ₹94 on BSE SME

Swasth Foodtech share price made a flat debut on BSE SME today. Swasth Foodtech share price today opened at ₹94, which is the IPO price.

The initial public offering (IPO) of Swasth Foodtech India had a subscription period that ran from Thursday, February 20 until Monday, February 24. With a face value of ₹10, Swasth Foodtech IPO price band has been set at Rs94. At least 1,200 of those shares are up for bid, and there are multiples of those shares available. Swasth Foodtech IPO subscription status was 7.83 times on the last day of bidding.

Swasth Foodtech India Limited focuses on processing rice bran oil for distribution to oil manufacturers and packers. The company produces several grades of rice bran oil that are rich in Vitamin E and Oryzanol, which are known for their heart-healthy advantages, high smoke point, and neutral flavour ideal for cooking.

In addition to rice bran oil, the company also markets and sells various byproducts, including fatty acids, gums, spent earth, and wax, which arise during the processing of their products in the open market. Their facility is equipped with a refining unit dedicated to bulk production of rice bran oil. Furthermore, Swasth Foodtech India Limited plans to utilise the proceeds from their operations to establish a packaging unit aimed at both their own brands and third-party brands, specifically targeting small retailers.

As per the Prospectus, the company's listed peers are Halder Ventres Ltd (with a P/E of 11.70), and Sarveshwar Foods (with a P/E of 37.20).

Swasth Foodtech IPO details

The Swasth Foodtech IPO, valued ₹14.92 crore, includes a fresh issuance of 15,87,600 equity shares with a face value of ₹10. There is no "offer for sale" component.

The company proposes to utilise the net proceeds from the issue towards several objectives, including the establishment of a packing line at the existing manufacturing unit, funding the working capital requirements of the company, and addressing general corporate purposes.

Horizon Management Private Limited serves as the book-running lead manager for the Swasth Foodtech IPO, while Mas Services Limited acts as the registrar for the issue. Additionally, Giriraj Stock Broking Private Limited is the market maker for the Swasth Foodtech IPO.

Swasth Foodtech IPO GMP today

Swasth Foodtech IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹94 with no premium or discount in the grey market according to investorgain.com

According to the grey market activities observed in the last 12 sessions, today's IPO GMP shows a downward trend and is anticipated to decline further. The minimum GMP recorded is ₹0.00, and the maximum GMP is ₹24.00, as stated by experts from investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.'

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