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Uma Exports Listing: Despite negative rating, Uma Exports gave excellent listing gains to investors, capital increased by 24% on the first day

Uma Exports Listing: Uma Exports, a leading agricultural sector company doing B2B business, today made a great entry in the domestic market.

Uma Exports Listing: Uma Exports, a leading company in the agriculture sector doing B2B business, had a great entry in the domestic market today. Its shares were listed at Rs 80 at a premium of about 18 per cent against the issue price of Rs 68 per share. After the listing, it became stronger and reached a price of Rs 84, that is, on the very first day, the capital of IPO investors increased by about 24 percent. For this IPO, most brokerage firms had given an AVOID rating due to aggressive issue price relative to Pierce, besides risks associated with weather and government policies on commodity trade, but it gave investors better listing gains even in a declining market today.

Issue was subscribed 8 times

The Rs 60 crore IPO of Uma Exports was open for subscription last month between March 28-30, 2022. In this, lot size of Rs 65-68 per share was fixed in lot size of 220 shares for investment. The IPO was subscribed 7.67 times and the maximum portion reserved for retail investors was subscribed. The share reserved for Qualified Institutional Buyers (QIBs) was subscribed 2.81 times, the share reserved for non-institutional investors 2.22 times and the share reserved for retail investors 10.11 times. The face value per share is Rs 10. All shares under the issue are freshly issued and the money raised will be used to meet working capital requirements and for general corporate purposes.

Details about the company

Uma Exports is doing business since the year 1988. This company does B2B business of Rice, Wheat, Sugar, Spices, Dry Red Chillies, Coriander, Cumin, Cereals and Pulses etc. It supplies to manufacturers and exports. Apart from this, the company imports lentils, tur dal, black urad dal and bean seeds in bulk from Canada, Australia and Burma. This company not only supplies agricultural products to domestic companies but is also expanding its business in Malaysia, Sri Lanka and Bangladesh. Talking about the financial position of the company, its net profit (Profit After Tax) has increased in the last three financial years. The company had a net profit of Rs 2.89 crore in the financial year 2018-19, which increased to Rs 8.33 crore in the next financial year and increased to Rs 12.18 crore in the financial year 2020-21.

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