Leo Dry Fruits and Spices Trading came to market through an SME IPO that opened on 1 January 2025 and closed on 3 January 2025, and the shares listed on 8 January 2025 on BSE SME. The price band was ₹51 to ₹52 per share and one lot was 2000 shares, so the minimum application was ₹1,04,000. The issue size was ₹25.12 crore. The whole issue was fresh shares, so the money raised went to the company.
Bigshare Services Pvt Ltd was the registrar to the issue, and Shreni Shares Limited was the lead manager.
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Incorporated in November 2019, Leo Dryfruits & Spices Trading Limited specializes in manufacturing and trading a variety of spices and dry fruits under the brand VANDU as well as frozen and semi-fried products under “FRYD. The company supplies whole and blended spices, roasted and flavoured dry fruits, ghee, seasonings, and other grocery items in various packaging sizes.
The company's business is divided into two verticals:- Trading of Products Manufacturing and Processing of Spices The company's manufacturing unit is situated in Thane, Maharastra. The company operates in three segments: B2B, B2C, and D2C.
In the B2B segment, the company wholesales whole spices and dry fruits in bulk to traders for unbranded resale In the B2C segment, the company sells its products as whole spices, blended spices, dry fruits, and groceries under VANDU through distributors, super stockists, e-commerce platforms like Amazon and Flipkart, and its website. In the D2C segment, they sell directly to customers through its website and online channel partners such as Amazon, Flipkart etc.
As of September 30, 2024, the Company had approximately 46 permanent employees at various levels.
As described in the offer document.
Mr. Kaushik Sobhagchand Shah, Mr Ketan Sobhagchand Shah, Mr Parth Ashish Mehta. Promoter holding 52.21% before the issue and 38.11% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Leo Dry Fruits and Spices Trading IPO was a ₹25.12 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹51–₹52 per share with a lot size of 2,000 shares (₹1,04,000). The IPO was open from January 1 to January 3, 2025. Shares listed on BSE SME on January 8, 2025 at ₹68, a 30.8% premium to the issue price of ₹52. Bigshare Services Pvt Ltd is the registrar.
Shreni Shares Limited is the book running lead manager.
The price band of Leo Dry Fruits and Spices Trading IPO is ₹51 to ₹52 per share.
The lot size of Leo Dry Fruits and Spices Trading IPO is 2000 shares.
The minimum investment for Leo Dry Fruits and Spices Trading IPO is approximately ₹1,04,000 based on the upper price band.
The allotment date of Leo Dry Fruits and Spices Trading IPO is Jan 6, 2025.
Leo Dry Fruits and Spices Trading IPO's final recorded GMP before listing was ₹14 per share (a 27% premium over the ₹52 upper price band). The shares listed at ₹68. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Leo Dry Fruits and Spices Trading IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Leo Dry Fruits and Spices Trading IPO allotment status on Rupix for quick and easy access.
₹51 to ₹52 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 2000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,04,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,04,000, for one lot of 2000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 1 January 2025 and closed on 3 January 2025.
The basis of allotment was published on 6 January 2025 by Bigshare Services Pvt Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 8 January 2025 on BSE SME.
The issue size was ₹25.12 crore. The fresh issue was 48,30,000 shares (aggregating up to ₹25.12 crore).