Gajanand International Limited IPO And Its GMP IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | [.] |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 36 per share |
| Lot Size | 3,000 Shares |
| Total Issue Size | 57,36,000 shares (aggregating up to ₹ 20.65 Cr) |
| Fresh Issue | 57,36,000 shares (aggregating up to ₹ 20.65 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 1,30,99,568 |
| Share holding post issue | 1,88,35,568 |
| Market Maker portion | ₹ 2,88,000 shares Nikunj Stock Broke |
About Gajanand International Limited IPO And Its GMP
Gajanand International Limited was originally incorporated as a private limited Company under the Companies Act, 1956 in the name and style of “Gajanand Cottex Private Limited” bearing corporate identification number U17111GJ2009PTC057251, dated June 15, 2009, issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli.
Thereafter, the name of their company was changed to “Gajanand International Private Limited” and a fresh certificate of incorporation dated May 26, 2023, was issued by the Registrar of Companies, Ahmedabad. Subsequently, the name of the company was changed to “Gajanand International Limited” according to a shareholders’ resolution passed at an extraordinary general meeting held on May 27, 2023, and a fresh certificate of incorporation dated June 01, 2023, was issued by Registrar of Companies, Ahmedabad bearing corporate identification number U17111GJ2009PLC057251.
- IPO Details:
- IPO Size: Rs 20.65 crores
- Issue Type: Fixed price
- Number of Shares: 57.36 lakh shares
- Issue Price: ₹36 per share
- Subscription Dates: September 9, 2024 to September 11, 2024
- Minimum Lot Size: 3000 shares
- Book Running Lead Manager: Fast Track Finsec Pvt Ltd
- Registrar: Skyline Financial Services Private Ltd
- Market Maker: Nikunj Stock Brokers
Gajanand International Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Company & Financials
Founded in 2009, Gajanand International Limited, formerly known as Gajanand Cottex Private Limited, is engaged in the production of contamination-free and sustainable cotton.
The company's product portfolio includes:
1. Mech1 cotton: Grown in Madhya Pradesh and Maharashtra, it is sown in the June/July period and harvested from November to January.
2. Shankar6 cotton: This is grown domestically and is the most exported raw cotton variety in India.
3. DCH 32 cotton: It is sown in the months of July-August and is ready for harvest from December to March. It is grown in the states of Karnataka, Tamil Nadu and Madhya Pradesh.
4. Khol: It is made from high-quality and pure cotton seeds.
Objectives of Gajanand International IPO
The Company proposes to utilize the funds being raised towards funding the following objectives and achieve the benefits of listing on the Emerge Platform of NSE.
The objectives of the Issue are:-
1. To meet the Working Capital requirements of the Company.
2. To meet the General Corporate Purposes.
3. To meet the Issue Expenses.
Gajanand International IPO Review
The company is in the business of manufacturing and marketing of variety of cotton. It has posted growth in its top and bottom lines for the reported periods. Based on FY24 earnings, the issue relatively appears fully priced. Considering the current fancy and bright prospects for the company, well-informed investors may park funds for medium to long term.
Gajanand International Limited IPO And Its GMP Financial Information
Latest Revenue
₹ 4,660.41 Cr
Profit After Tax
₹ 199.29 Cr
Net Worth
₹ 1,747 Cr
Total Borrowing
₹ 80,04,000 Cr
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 30 Nov 2023 | 3,748.77 | 4,660.41 | 199.29 | 1,747 | 80,04,000 |
| 31 Mar 2023 | 1,900.58 | 7,342.4 | 141.06 | 547.62 | 301.37 |
| 31 Mar 2022 | 1,944.36 | 6,176.21 | 2.85 | 406.57 | 441.56 |
| 31 Mar 2021 | 1,942.64 | 5,846.56 | 0.99 | 403.72 | 441.77 |
| Amount in ₹ Crore | |||||
Gajanand International Limited IPO And Its GMP IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Gajanand International Limited IPO And Its GMP IPO GMP is currently trading at ₹5, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹41, which is 13.89% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
IPO Estimated Listing Return
Based on the IPO Price of ₹36 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹5 and a lot size of 3000 shares.
Gajanand International Limited IPO And Its GMP IPO GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-09-11 | ₹36 | ₹5.0(14%) | 2024-09-11 |
| 2024-09-10 | ₹36 | ₹5.0(14%) | 2025-09-10 |
Gajanand International Limited IPO And Its GMP Key Performance Indicator
| KPI | Values |
|---|---|
| - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.08 | 1.59 |
| P/E (x) | 33.43 | 22.68 |
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Competitive Strengths
Gajanand International Limited IPO And Its GMP IPO Timeline
| IPO Open Date | Monday, September 9, 2024 |
| IPO Close Date | Wednesday, September 11, 2024 |
| Basis of Allotment | Thursday, September 12, 2024 |
| Initiation of Refunds | Friday, September 13, 2024 |
| Credit of Shares to Demat | Friday, September 13, 2024 |
| Listing Date | Monday, September 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹ 1,08,000 |
| Retail (Max) | 1 | 3,000 | ₹ 1,08,000 |
| HNI (Min) | 2 | 6,000 | ₹ 2,16,000 |