- The IPO price is fixed at Rs 20 per share
- Retail investors must invest a minimum of Rs 1.2 lakh and have a minimum lot size of 6,000 shares
- High Networth Individuals can apply for 2 lots or 12,000 shares, which amounts to an investment of Rs 2,40,000
NE BUSINESS BUREAU
AHMEDABAD, OCT 2
Vadodara-based NeoPolitan Pizza and Foods Ltd.’s initial public offer (IPO) opened for subscription on Monday, September30. The BSE SME issue will be available for bidding till Friday, October 4. The Rs 12-crore fixed price offer consists of a fresh issue of 60 lakh shares of a face value of Rs 10 each.
The IPO price has been fixed at Rs 20 apiece. Retail investors can bid for a minimum single lot size of 6,000 shares, aggregating to an investment of Rs 1,20,000. On the other hand, High Networth Individuals can apply for 2 lots or 12,000 shares, which amounts to an investment of Rs 2,40,000.
NeoPolitan Pizza and Foods Ltd. promoters include Mukund Purohit and Arti Mukund Purohit.
The company proposes to utilize the funds being raised through this Issue towards expansion of the retail network by launching 16 new quick service restaurants, security deposit and advance rent, brokerage charges, working capital requirements and general corporate expenses
The company has reserved 50% of the net issue for retail investors and the remaining 50% for other investor categories. The IPO offer size also includes a market maker portion of 3,00,000 shares.
NeoPolitan Pizza and Foods Limited reported a revenue of Rs 4,401.07 lakh, an increase of 120% and profit after tax (PAT) rose by 80% to Rs 210.72 lakh between the financial year ending with March 31, 2024 and March 31, 2023
Turnaround Corporate Advisors Private Limited is the book running lead manager of the IPO
