The Rs 12 crore fixed price IPO closed on December 16 and was subscribed 1.49 times overall. Retail investors subscribed their portion 1.70 times, while the non-institutional investor segment was subscribed 1.27 times. The issue saw a total of 460 applications, pointing to modest participation.
The IPO is entirely a fresh issue of 40.92 lakh shares and values the Ahmedabad-based agri-commodities company at a pre-IPO market capitalisation of about Rs 40 crore.
Stanbik Agro is a vegetable and fruit seller, which operates across contract farming, modern retailing and B2B supply of agricultural commodities. The company works with farmers to cultivate crops such as sesame, cumin and cotton, while also supplying fresh fruits and vegetables to retailers, wholesalers and institutional buyers.
Financially, the company has reported strong growth over the past two years. Revenue nearly doubled in FY25, while profit after tax rose over 100% year-on-year. Proceeds from the issue will be used primarily to expand the company’s retail network, meet working capital requirements and for general corporate purposes.
Grow House Wealth Management is the book-running lead manager, while Purva Sharegistry is the registrar to the issue.
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