Mumbai: If you're planning to invest in an IPO, here's a news starting Friday, August 22, Anondita Medicare, a condom manufacturing company based in Uttar Pradesh, is opening its IPO for public investment. The subscription will close on August 26, and share allotment will be finalized by August 28.
The company’s shares will be listed on NSE Emerge on September 1.
Strong Grey Market Premium
The IPO is already making buzz in the grey market, where its shares are available at a Rs 58 premium. This means investors could see up to 40 percent profit on listing day, depending on the final listing price.
IPO Details
- The IPO consists of a fresh issue of 47.93 lakh shares.
- Price band: Rs 137 to Rs 145 per share
- Total amount to be raised: Rs 69.5 crore
Anondita Medicare is known for manufacturing male condoms under the 'Cobra' brand. The company operates from Noida with 11 production lines, and has an annual capacity of around 56.2 crore condoms.
Company’s Plan for IPO Funds
Anondita Medicare plans to use the IPO funds in the following way:
- Rs 6 crore for buying new equipment and machinery
- Rs 35 crore for working capital needs
Remaining funds will be used for future acquisitions and general corporate purposes
Competitor in Market
The company competes directly with Cupid, another listed company in the same segment.
This IPO could be a good opportunity for short-term listing gains as well as long-term investment, depending on market response.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions in the stock market or IPOs.
