NEW DELHI: The initial public offer (IPO) by SME
Valencia Nutritionkicked off on Monday. The company intends to sell 15,72,000 shares at Rs 46 each in the fixed price issue.
By 11.45 pm, the issue had received bids for 84,000 shares on BSE. The issue will close on December 30.
Prospective retail investors may require to bid for at least 3000 shares, ie a minimum of Rs 1.38 lakhs.
The company is an applied biotechnology startup operating in the field of researching, developing & marketing nutraceutical products i.e. multi-nutrient functional beverages such as ‘Bounce Superdrinks’ & ‘VitaMe Enriched Beverage’ to prevent or manage lifestyle-related diseases.
The company intends to utilise the Rs 5.26 crore issue partly to construct of new corporate office and research development and pre-mix laboratory building in Bengaluru. Besides, it intends to meet its sales, marketing and distribution expenses for increasing its brand value.
The company said that its formulations are created in-house by highly qualified nutrition & health care professionals. It says it uses an outsourcing model that emphasises on quality manufacturing, bottling, packaging and transportation.
Indian nutraceuticals market is expected to grow at a compounded annual growth rate of 21 per cent and reach $10 billion by 2022 from $4 billion now.
For the interested retail individual investors, the use of UPI Id in Application Form is mandatory while applying through designated intermediaries. All other category of investors are to mandatorily use only ASBA facility for making payments.
IPO
via https://www.AiUpNow.com
December 23, 2019 at 03:39AM by , Khareem Sudlow
