Uma Exports shares rise on market debut, premium listing
Shares of Uma Exports made their stock market debut on Thursday with the shares trading at Rs 76 on the NSE, a premium of more than 11% to the issue price of its IPO of ₹68 per share. On the BSE, shares of Uma Exports began trading at ₹80 coins, up 17% from issue price.
Uma Exports’ three-day initial public offering (IPO) opened last week on Monday, March 28, 2022 and closed on March 30, 2022. The company had set the price range for the public offering at ₹65 to ₹68 per share. After 3 days of auction, the initial share sale was subscribed 7.67 times in total while the retail investor category was booked more than 10 times.
The company had said it planned to use the net proceeds of the issue for increased working capital requirements and general corporate purposes.
Uma Exports is engaged in the trading and marketing of agricultural products and commodities such as sugar, spices such as dry red chillies, turmeric, coriander, cumin seeds, food grains such as rice, wheat, maize, sorghum and tea, legumes and agricultural foods like soybean meal. and de-oiled rice bran cake.
Download the app to get 14 days of unlimited access to Mint Premium absolutely free!