Gajanand International Limited IPO: Important Details of IPO

• Gajanand International Limited IPO is a fixed price issue worth up to Rs 20.65 crores.
• Bidding opens on September 9 and closes on September 11, 2024.
• Gajanand International Limited SME IPO price set at Rs 36 per share.
• The minimum amount required for retail investors is Rs 1,08,000.

Gajanand International Limited IPO: Synopsis

Gajanand International Limited IPO is open for subscription from Monday, September 9, 2024, and closes on Wednesday, September 11, 2024. The price for this IPO is set at Rs 36 per share.

Gajanand International Limited IPO is offering entirely a fresh issue of 57.36 lakh equity shares worth up to Rs 20.65 crore equity shares. The allotment for this new IPO is expected to be finalised on Thursday, September 12, 2024. The listing of this IPO will be done on Monday, September 16, 2024, at the NSE SME segment.

The minimum lot size set for the retail category is 1 lot, i.e., 3000 shares. For retail investors, the minimum and maximum investment amount required is Rs 108,000. However, for the HNI category, the minimum lot size is 2 lots, i.e., 6000 shares amounting to Rs 216,000.

The IPO is managed by Fast Track Finsec Private Limited, which is the book-running lead manager of this public issue. The company has appointed Skyline Financial Services Private Limited as the registrar for the issue.

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Gajanand International Limited Limited: About the Company

Gajanand International Limited, founded in 2009 as Gajanand Cottex Private Limited, specialises in producing contamination-free and sustainable cotton. The company's product offerings include Mech1 cotton, grown in Madhya Pradesh and Maharashtra, Shankar6 cotton, India's top exported raw cotton variety, and DCH 32 cotton, cultivated in Karnataka, Tamil Nadu, and Madhya Pradesh. They also produce Khol, a cotton product made from pure seeds.

With an installed capacity of 37,500 MT per year, Gajanand International leverages its strategic location for raw material access and transportation. As of March 31, 2024, the company had 22 employees and continues to expand its operations to meet market demands.

Gajanand International Limited IPO: Objectives

The company proposes to utilise the funds being raised to benefit from listing on the Emerge Platform of NSE and to achieve the following objectives: fulfilling working capital requirements, covering general corporate purposes, and addressing the Issue expenses.

Gajanand International Limited IPO: Other Important Details

Time Table of Gajanand International Limited IPO

Gajanand International Limited IPO: Financial Metrics (Amt in Rs Lakhs)

Minimum Investment: Lot Size Details

Promoters of Gajanand International Limited Limited and Their Holdings

The company's promoters are Mr Ashok Bhagvanbhai Monsara, Mrs Truptiben Ashokbhai Monsara, and Mr Ashish Dhirajlal Monsara. They collectively held 90.50% of the company's shares. However, post-IPO, changes in their shareholdings have not yet been disclosed.

FAQs

1.       What are the core details available for the Gajanand International Limited IPO?

Gajanand International Limited IPO is a fixed price public issue of 57.36 lakh equity shares. This upcoming IPO is offering entirely a fresh issue of 57.36 lakh equity shares. The allotment for this new IPO is expected to be finalised on Thursday, September 12, 2024.

2.       How can I apply for the Gajanand International Limited IPO?

The public subscription of this new IPO opens on September 9 and closes on September 11, 2024. Click here to initiate the application process.

3.       Who is the lead manager(s) for the Gajanand International Limited IPO?

Fast Track Finsec Private Limited was appointed as the book-running lead manager for the IPO.

4.       Who is appointed as the registrar for this IPO?

Skyline Financial Services Private Limited has been appointed as the registrar for this public issue.

5.       How will the net proceeds from the IPO will be utilised?

The company proposes to utilise the funds being raised to benefit from listing on the Emerge Platform of NSE and to achieve the following objectives: fulfilling working capital requirements, covering general corporate purposes, and addressing the Issue expenses.

6.       How can I check the allotment status of the IPO?

Investors who applied for an IPO can check the allotment status of the Gajanand International Limited IPO by visiting here. For further updates, follow Bigul.

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