Upcoming IPO: Arunaya Organics IPO opens on April 29; issue price band set at ₹55-58 apiece; check GMP

Upcoming IPO: Arunaya Organics Limited IPO will open for subscription on Tuesday, April 29 and close on Friday, May 2. Arunaya Organics IPO price band has been fixed in the range of ₹55 to ₹58 per equity share of face value of ₹10 each. Bids can be made for a minimum of 2,000 equity shares and in multiples of 2,000 equity shares thereafter.

Founded in 2010, Arunaya Organics Limited specializes in the production and export of specialty dyes and intermediates.

The company has built a solid reputation for providing high-quality chemical products to a range of sectors, including textiles, paints, plastics, mining, and food processing.

Their product offerings include various forms such as standardized spray-dried and tray-dried powders, granules, crude products, reverse osmosis-treated items, and salt-free options.

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

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 intends to use the net proceeds from the offering for several purposes, including establishing a new manufacturing plant in Gujarat, supporting the working capital needs of the company, and addressing 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. The market maker associated with the Arunaya Organics IPO is R.K. Stock Holding Private Limited.

Ather Energy IPO GMP today

Ather Energy 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.