The initial public offering (IPO) of Anya Polytech & Fertilizers kicks off for bidding on Thursday, December 26. The issue can be subscribed till Monday, December 30. The company is offering its shares in the range of Rs 13-14 apiece, for which investors can apply for a minimum of 10,000 equity shares and its multiples thereafter.
Incorporated in 2011, New-Delhi based Anya Polytech & Fertilizers is engaged in the business of fertilizers and bags manufacturing and also provides environmental solutions. It manufactures high-quality high-density polyethylene (HDPE) & polypropylene (PP) bags and zinc sulphate fertilizers.
The IPO of Anya Polytech & Fertilizers includes a fresh share sale of 3,20,00,000 equity shares, amounting to Rs 44.80 crore. The net proceeds from the issue shall be utilized towards setting-up new project in Yara Green Energy; meeting capital expenditure and working capital requirements of the company and its subsidiaries; and general corporate purposes
Retail investors can apply for a single lot or 10,000 equity shares, which would cost Rs 1,40,000 at the upper end of the price band. Other investors need to apply for a minimum of two lots or 20,000 equity shares, amounting to Rs 2,80,000 at the upper end of the price band.
Ahead of its IPO, Anya Polytech raised 12.74 crore from anchor investors by allocating 91,00,000 equity shares at Rs 14 apiece. Its anchor book included names like Zeta Global Funds, NAV Capital VCC, Aarth AIF, Nexus Equity Growth Fund, Shina Start Build Cap, Galaxy Noble Opportunities Fund, Next Orbit Growth Fund.
For the three-month ended on June 30, 2024, Anya Polytech reported a net profit of Rs 4.544 with a revenue of Rs 40.73 crore. Its net profit stood at Rs 9.98 crore with a revenue of Rs 125.06 crore for the financial year 2023-24. The grey market premium (GMP) of the company stood at Rs 3, suggesting 22 per cent upside for the investors.
The company had reserved 50 per cent of the net offer for the qualified institutional bidders (QIBs), while non-institutional investors will have 15 per cent of the allocation in the net offer. Retail investors will get 35 per cent of the net issue reserved for them. The company shall command a market capitalization of Rs 168 crore.
Beeline Capital Advisors is the book running lead manager of the Anya Polytech IPO, while Skyline Financial Services is the registrar for the issue. The market maker for Anya Polytech IPO is Spread X Securities. Shares of the company are likely to be listed on NSE SME platform on Thursday, January 2, 2025.