Aelea Commodities’ shares saw a strong start to the stock market as they were listed on July 22. At Rs 165, they were trading at a premium of 73.6 percent over the Rs 95 issue price on the BSE SME platform.
The shares were trading at an 81% premium, thus the listing gains are less than the grey market predictions.
A new issue of 53.69 lakh shares, the Rs 51 crore public offer drew a lot of interest from investors, as it was approximately 170 times subscribed. Non-institutional investors led the way, buying 390 times their allocated quota, followed by regular investors and qualified institutional buyers, or QIBs.
It was founded in 2018 and focuses on trading agricultural products, particularly cashews. The firm also deals in sugar, pulses, soybeans, rice, and wheat flour. Aelea also imports raw cashew nuts from several African nations, including Benin, Tanzania, Burkina Faso, Senegal and Côte d’Ivoire.
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