Exciting News Alert! IPO GMP of Chaatha Foods Opens on 19th March 2024 đđ
Chaatha Foods Limited has launched its IPO with a plan to raise a whopping 34 crore rupees. Investors can place their bids in the SME issue on the BSE by 21st March. The company supplies premium quality meat products to major international chains like Domino’s, Subway, Burger King, and more.
Under the IPO, 59.62 lakh new shares will be issued, and once closed, the company’s shares may be listed on BSE SME on 27th March 2024. The price range for Chaatha Foods’ IPO is set at 53-56 rupees per share, with a lot size of 2000 shares. This means retail investors will need to invest a minimum of 1.12 lakh rupees.
50% of the IPO is reserved for institutional buyers, 35% for retail investors, and 15% for non-institutional investors. IndOrient Financial Services Limited is the book running lead manager for the IPO, with Registrar Skyline Financial Services Private Limited and Market Maker Alacrity Securities.
With a market share of 81.36%, Chaatha Foods Limited is a leading Indian manufacturer of frozen and ready-to-eat processed meat products. The company, established in 1999, reported a revenue of 117.24 crore rupees and a net profit of 2.45 crore rupees in FY23.
During April-September 2023, the company generated a revenue of 70.78 crore rupees and a net profit of 3.41 crore rupees. Don’t miss out on this exciting opportunity to invest in one of India’s top meat processing companies!
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