Aelea Commodities Ltd. is gearing up for its Initial Public Offering, aiming to raise Rs 51.00 crore through a fresh issue of 53.69 lakh shares. The company specialises in trading of agricultural products, primarily focusing on the processing and trading of cashews.
The IPO subscription period will open on July 12, 2024, and close on July 16, 2024, with allotment expected to be finalised by July 18, 2024. The company plans to list its shares on the BSE SME platform, with the tentative listing date slated for July 22, 2024. The IPO price band is set between Rs. 91 to Rs. 95 per share.
Retail investors need to apply for a minimum of 1200 shares, requiring an investment of Rs. 114,000. The minimum lot size for High Net-Worth Individuals is 2 lots (2400 shares), amounting to Rs. 228,000.
Aelea Commodities IPO is reserving 50% of the net issue for qualified institutional buyers (QIBs), 15% of the net offer has been allocated for non-institutional investors (NIIs) and 35% for retail investors. Up to 2,68,800 equity shares have been allotted to the market maker portion.
According to the company’s Red Herring Prospectus, Ekadrisht Capital Private Ltd is the book-running lead manager for the Aelea Commodities IPO, with Maashitla Securities Private Limited appointed as the registrar. SS Corporate Securities will serve as the market maker for the IPO.
Established in 2018, Aelea Commodities Limited specialises in the trading of agricultural products, primarily focusing on the processing and trading of cashews. The company is also engaged in the business of agro commodities viz. trading of sugar, rice, wheat flour, pulses, beans, vegetables, etc.
Aelea Commodities imports Raw Cashew Nuts (RCN) from various African nations, including Benin, Tanzania, Burkina Faso, Senegal, and Cote d’Ivoire. The company’s clientele spans across Rajasthan, Karnataka, Gujarat, Mumbai, Dubai, and Sri Lanka.
The company operates a processing unit in Surat, Gujarat, with plans underway to establish another unit in the Taluka district of Surat.
The funds raised from the IPO will be utilised for:
– Setting up a new manufacturing unit and installing plant and machinery.
– Purchasing plant and machinery for an existing manufacturing unit.
– General corporate purposes.
Aelea Commodities Limited has demonstrated robust financial growth, reporting a 31.2% increase in revenue and a significant 539.22% rise in Profit After Tax (PAT) between the financial years ending March 31, 2024, and March 31, 2023. This strong performance underscores the company’s strategic expansion plans and market position within the agricultural commodities sector.