Sameera Agro and Infra's initial public offering (IPO) kicks off its bidding process on Thursday, December 21, with an aim to generate Rs 62.64 crore through the sale of 34.80 lakh equity shares. The bidding period for the issue concludes on Wednesday, December 27, and the shares are scheduled for listing on the NSE Emerge platform on January 1, 2024.
Formerly recognized as Sameera Homes, Sameera Agro and Infra, established in 2002, specializes in infrastructure development and construction. As part of its expansion, the company has diversified into the processing, drying, sale, purchase, marketing, and distribution of agricultural commodities, including pulses, cereals, grains, and lentils.
Potential investors can participate by bidding for a minimum of 800 equity shares or multiples thereof, equating to Rs 1,44,000. Retail investors have the option to bid for a single lot of 800 equity shares, while non-retail investors are required to bid for a minimum of two lots (1,600 equity shares), totaling at least Rs 2,88,000.
The proceeds from the IPO will be allocated for various purposes, such as ongoing project construction, the establishment of a new multiplex, meeting working capital requirements for the agro-business, and covering general corporate expenses. Presently, the company is not commanding any premium in the grey market.
Sameera Agro and Infra engage in the planning, development, and construction of various projects, encompassing residential and commercial spaces, apartments, townships, multistoried complexes, gated communities, landscapes, bridges, flyovers, subways, alleys, and industrial parks.
The company owns a leased manufacturing and processing unit near Hyderabad, accessible to Telangana, Karnataka, and Maharashtra. Additionally, it is in the process of acquiring processing mills on a lease basis in Guntur and Rajahmundry, Andhra Pradesh.
For the fiscal year 2023, Sameera Agro and Infra reported a substantial increase in revenue by 31.79 percent, reaching Rs 138.82 crore. The profit after tax (PAT) also experienced a remarkable surge by 266.1 percent to Rs 10.04 crore on a year-on-year basis. As of September 30, 2023, the company achieved a net profit of Rs 6.92 crore with a revenue of Rs 94.37 crore.
