Sameera Agro and Infra IPO opens for bidding; check GMP and details

Sameera Agro and Infra's IPO opens for bidding on Thursday, December 21, aiming to raise a total of Rs 62.64 crore through the sale of 34.80 lakh equity shares. The bidding for the issue will conclude on Wednesday, December 27. Shares of the company will be listed on the NSE Emerge platform on January 1, 2024.

Formerly known as Sameera Homes, Sameera Agro and Infra was established in 2002, and operates in infrastructure development and construction. Sameera Agro and Infra, in its expansion, has diversified into processing, drying, sale, purchase, marketing, and distribution of agricultural commodities, such as pulses, cereals, grains, and lentils.

Investors can participate by bidding for a minimum of 800 equity shares, or multiples thereof, amounting to Rs 1,44,000. Retail investors can bid for a single lot of 800 equity shares, while non-retail investors need to bid for a minimum of two lots (1,600 equity shares), totaling at least Rs 2,88,000.

The funds raised from the IPO will be allocated for various purposes, including ongoing project construction, building a new multiplex, meeting working capital requirements for the agro-business, and covering general corporate expenses. The company currently is not commanding any premium in the grey market.

The company engages in the planning, development, and construction of various projects, including residential and commercial spaces, apartments, townships, multistoried complexes, gated communities, landscapes, bridges, flyovers, subways, alleys, and industrial parks.

Sameera Agro and Infra owns a leased manufacturing and processing unit near Hyderabad, accessible to Telangana, Karnataka, and Maharashtra, and is in the process of acquiring processing mills on a lease basis in Guntur and Rajahmundry, Andhra Pradesh.

Notably, the company has reserved 184,000 equity shares for the market maker (SVCM Securities) and allocated 50 per cent of the net offer for retail investors, with the remaining 50 per cent for other investors. First Overseas Capital is the sole manager for the IPO, and Kfin Technologies will serve as the registrar.
 

For the fiscal year 2023, Sameera Agro and Infra reported a significant increase in revenue by 31.79 per cent to Rs 138.82 crore. The profit after tax (PAT) also surged by 266.1 per cent to Rs 10.04 crore on a year-on-year basis. As of September 30, 2023, the company achieved a net profit of Rs 6.92 crore with a revenue of Rs 94.37 crore.

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