Uma Exports shares rise on market debut, list at premium

Shares of Uma Exports made their stock market debut on Thursday with the stock listing at Rs 76 on the NSE, a premium of over 11% as compared to its IPO issue price of ₹68 per share. On BSE, Uma Exports shares started trading at ₹80 apiece, up 17% from issue price.

The three-day initial public offering (IPO) of Uma Exports had opened last week on Monday, March 28, 2022 and concluded on March 30, 2022. The company had fixed price band of the public issue at ₹65 to ₹68 per equity share. After 3 days of bidding, the initial share sale got subscribed 7.67 times overall whereas the retail investors' category was booked over 10 times.

The company had said it plans to utilize net proceeds from the issue for the augmentation of working capital requirements and general corporate purposes.

Uma Exports is engaged in trading and marketing agricultural produce and commodities such as sugar, spices like dry red chillies, turmeric, coriander, cumin seeds, food grains like rice, wheat, corn, sorghum and tea, pulses, and agricultural feed like soyabean meal and rice bran de-oiled cake.