City crops agro limited share price makes tepid debut; list at 2% premium at Rupee25.50 on BSE SME
City Crops Agro Limited IPO listing date: City Crops Agro Limited shares made a tepid debut on BSE SME today. On BSE SME, City Crops Agro Limited share price today was listed at ₹25.50 per share, 2% higher than the issue price of ₹25.
City Crops Agro IPO price band was set at ₹25 per equity share of face value of ₹10 each. City Crops IPO lot size was 6000 equity shares and in multiples of 6000 equity shares thereafter. The issue price was 2.5 times of the face value of the equity shares. City Crops Agro IPO opened for subscription on Tuesday, September 26, and closed on Friday, September 29.
City Crops Agro IPO details
City Crops Agro Limited IPO, which is worth ₹15 crores, is completely a fresh issue of 6,000,000 equity share; there is no offer for sale (OFS) component. Kaupilkumar Hasmukhbhai Shah and Shitalben Kaupilkumar Shah are the promoter of the company.
The company plans to use the net proceeds from the offering to meet working capital requirements, fund general corporate purposes, and cover issue related expenses.
The book running lead manager of the issue is Turnaround Corporate Advisors Pvt Ltd, and registrar to the issue is Skyline Financial Services Pvt Ltd.
According to red herring prospectus (RHP), out of 60,00,00 equity shares, 3,00,000 equity shares at face value of ₹10 each at a price of ₹25 per equity share aggregating to ₹75 lakhs is reserved for the market makers.
Further, 57,00,000 equity shares at face value of ₹10 each at a price of ₹25 per equity share aggregating to ₹1425 lakhs is net issue to the public.
City Crops Agro IPO GMP today
City Crops IPO GMP today or grey market premium was ₹0, which meant City Crops shares were trading at their issue price of ₹25 with no premium or discount in the grey market according to investorgain.com
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Bymint
