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IPO

Agri-commodities trader Uma Exports' IPO oversubscribed

MoneyControl  

The public offering of Uma Exports, a Kolkata-headquartered agricultural produce and commodities trader, received bids for 7.08 crore equity shares against IPO size of 92.30 lakh equity shares, getting oversubscribed by 7.67 times. Retail investors have put in bids 10.11 times the portion set aside for them, the allotted quota of non-institutional investors was booked 2.22 times and that of qualified institutional buyers 2.81 times. The offer will fetch the agri-commodities trader INR 60 crore which will be used as working capital. The price band for the offer is INR 65-68 per equity share. Uma Exports markets sugar, spices like dry red chillies, turmeric, coriander, cumin seeds, food grains like rice, wheat, corn, sorghum and tea, pulses and agricultural feed like soyabean meal and rice bran de-oiled cake. The company imports lentils, faba beans, black urad dal and tur dal in bulk.