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The IPO of Arunaya Organics Limited will open for subscription on April 29 and is set to close on May 2. The firm has also set a price band of ₹55 to ₹58 per share for the IPO. Interested individuals have to bid for at least 2,000 shares and in multiples of 2,000 thereafter.
Company Overview
Arunaya Organics Limited specializes in manufacturing and exporting specialty dyes and chemical intermediates since its inception in 2010. The company holds a strong position in the market as a reliable supplier of chemical products due to its focus on industrial quality for textiles, paints, plastics, mining, food processing, and other industries. It supplies standardized spray-dried powders, tray-dried powdered, granules, crude chemicals, items subjected to reverse osmosis, salt-free items as well as salt-free items.
Peer Benchmarking
As stated in Red Herring Prospectus (RHP), the available peers for Arunaya Organics are:
Vipul Organics Limited: 72.94 P/E ratio
Mahickra Chemicals Limited: 81.43 P/E ratio
Ducol Organics & Colours Ltd: 34.96 P/E ratio
IPO Information
The Arunaya Organics IPO encompasses:
Fresh Issue: 52,60,000 equity shares totaling ₹30.51 crores
Offer-for-Sale (OFS): Promoter shareholding selling 3.48 crore equity shares
Objectives of the Offer's Net Proceeds
The net proceeds of Arunaya Organic’s IPO will be used for the following purposes:
To construct a new manufacturing unit in Gujarat
To fulfill operational pending payments
General expenses for the company
IPO administrators
Lead Manager: Unistone Capital Pvt Ltd
Registrar: Bigshare Services Pvt Ltd
Market Maker: R.K. Stock Holding Private Limited
Current GMP (GMP of the shares in Grey Market)
As per the latest figures accessed on investorgain.com, Arunaya Organics IPO shares are selling in the grey market at ₹0, suggesting these shares are perceived to be issued at ₹58 with no extra value in the grey market.
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