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20 Nov 2024
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.
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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
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Gajanand International Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 11-09-2024 | 36 | 5.0 (14%) | 11-Sep-2024 12:15 |
| 10-09-2024 | 36 | 5.0 (14%) | 10-Sep-2024 12:15 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Gajanand International Limited IPO Overview
| 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 | 3000 Shares |
| Total Issue Size | 5,736,000 shares (aggregating up to ₹20.65 Cr) |
| Fresh Issue | 5,736,000 shares (aggregating up to ₹20.65 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 13,099,568 |
| Share holding post issue | 18,835,568 |
| Market Maker portion | 288,000 shares Nikunj Stock Brokers |
Gajanand International IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| 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 |
Gajanand International Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹108,000 |
| Retail (Max) | 1 | 3000 | ₹108,000 |
| HNI (Min) | 2 | 6,000 | ₹216,000 |
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 |
Gajanand International IPO Promoter Holding
| Share Holding Pre Issue | 90.50% |
| Share Holding Post Issue |
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.
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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.
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Company strengths:
- ● The company has an installed capacity of 37,500 MT/year
- ● Location advantage: Raw material harvesting nearby/easy availability and readily available transportation.
- ● Increasing scalability of the company and self-consumption: By expanding its operations and diversifying its product offering, the company has improved its ability to adapt quickly to changing market demand.
Gajanand International Limited Financial Information
| Period Ended | 30 Nov 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 3,748.77 | 1,900.58 | 1,944.36 | 1,942.64 | ||||||||||||||||||||||||||||||||||||
| Revenue | 4,660.41 | 7,342.4 | 6,176.21 | 5,846.56 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 199.29 | 141.06 | 2.85 | 0.99 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 1,747 | 547.62 | 406.57 | 403.72 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 436.96 | 505.75 | 364.7 | 361.85 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 80,04,000 | 301.37 | 441.56 | 441.77 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.08 | 1.59 |
| P/E (x) | 33.43 | 22.68 |
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.
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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.
FAQs for Gajanand International IPO
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What is Gajanand International IPO?
Gajanand International IPO is a SME IPO. The company is going to raise ₹20.65 Crores via IPO. The issue is priced at ₹36 per equity share. The IPO is to be listed on NSE.
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When will Gajanand International IPO open for subscription?
The IPO is to open on September 9, 2024, for QIB, NII and Retail Investors. The IPO will close on September 11, 2024.
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What is the Gajanand International IPO Investors Portion?
The investors’ portion for QIB is 00%, NII is 50%, and Retail is 50%.
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What is Gajanand International IPO Issue Size?
Gajanand International IPO issue size is ₹20.65 crores.
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What is Gajanand International IPO Price Band?
Gajanand International IPO Price Band is ₹36.
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What is Gajanand International IPO Lot Size?
The minimum bid is 3000 Shares with ₹108,000 amount.
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What is the Gajanand International IPO Allotment Date?
Gajanand International IPO allotment date is September 12, 2024.
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What is the Gajanand International IPO Listing Date?
Gajanand International IPO listing date is September 16, 2024. The IPO is to be listed on the NSE.
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What is the current GMP of Gajanand International IPO?
The current GMP of Gajanand International IPO is 5.0 (14%).
DRHP:
DRHP of Gajanand International Limited IPO.
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What is Gajanand International IPO?
Gajanand International IPO is a SME IPO. The company is going to raise ₹20.65 Crores via IPO. The issue is priced at ₹36 per equity share. The IPO is to be listed on NSE.
-
When will Gajanand International IPO open for subscription?
The IPO is to open on September 9, 2024, for QIB, NII and Retail Investors. The IPO will close on September 11, 2024.
-
What is the Gajanand International IPO Investors Portion?
The investors’ portion for QIB is 00%, NII is 50%, and Retail is 50%.
-
What is Gajanand International IPO Issue Size?
Gajanand International IPO issue size is ₹20.65 crores.
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What is Gajanand International IPO Price Band?
Gajanand International IPO Price Band is ₹36.
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What is Gajanand International IPO Lot Size?
The minimum bid is 3000 Shares with ₹108,000 amount.
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What is the Gajanand International IPO Allotment Date?
Gajanand International IPO allotment date is September 12, 2024.
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What is the Gajanand International IPO Listing Date?
Gajanand International IPO listing date is September 16, 2024. The IPO is to be listed on the NSE.
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What is the current GMP of Gajanand International IPO?
The current GMP of Gajanand International IPO is 5.0 (14%).
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