Strong Debut! Leo Dryfruits & Spices shares list at ₹68, premium of 31% over IPO price

Leo Dryfruits & Spices Trading IPO Listing: Leo Dryfruits & Spices made a strong debut on the bourses on Wednesday, January 08, 2024, as the stock got listed at ₹68 apiece on BSE SME, a premium of 31% over the issue price of ₹52. The issue was subscribed 181.77 times as it received a stellar response from non-institutional buyers and retail investors, whose portions were booked 394 times and 154 times, respectively. The company proposes to utilise the net proceeds from the issue towards funding the working capital requirements of the company, branding, About Leo Dry Fruits The company is engaged in the manufacturing/processing, trading, and marketing of a wide range of spices, dry fruits, and other grocery products under the brand name “VANDU” and frozen/semi-fried products under the brand name of “FRYD.” It is currently engaged in supplying various whole spices and blended spices under the spices category; plain, roasted, and flavored dry fruits under the dry fruits category; and ghee, various types of seasoning, chiz bites, poppy seeds, sesame seeds, and many more under the other grocery products category in different packaging sizes. For the financial year ending March 31, 2024, 2023, and 2022, its sales were ₹6,011.99 Lakhs, ₹3,368.88 Lakhs, and ₹489.70 Lakhs from Maharashtra, which constitutes 96.71%, 92.45%, and 93.00%, respectively, of the revenue from operations, as per the company's DRHP report.