BSE SME Aelea Commodities Soars on Debut

Shares of Aelea Commodities were trading at Rs 173.25 on the BSE, marking an 82.37% premium over the issue price of Rs 95. The stock was listed at Rs 165, a 73.68% premium over the IPO price, and is currently capped at a 5% increase from its listing price.

The stock reached a high of Rs 173.25 and a low of Rs 156.75, with around 24.60 lakh shares traded.

Aelea Commodities' IPO was highly successful, being subscribed 182.18 times. The bidding period was from July 12 to July 16, 2024, with a price band set at Rs 91-95 per share. The IPO included a fresh issue of 53,68,800 shares, reducing the promoter and promoter group shareholding from 86.45% to 63.66%.

The company plans to use the proceeds to set up a new manufacturing unit, purchase plant and machinery for existing facilities, cover general corporate purposes, and meet issue-related expenses.

Aelea Commodities trades in cashews and other commodities such as sugar and rice, importing cashews from several African countries and selling to both businesses and consumers. As of May 31, 2024, the company had 48 employees.

For the period ending May 31, 2024, the company reported Rs 27.55 crore in revenue and a net profit of Rs 2.80 crore.

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