BSE SME Swasth Foodtech India slides on listing day

Shares of Swasth Foodtech India were trading at Rs 89.30 on the NSE, a discount of 5% compared with the issue price of Rs 94.

The scrip was listed at 94, matching the initial public offer (IPO) price. The counter hit a high of Rs 94 and a low of Rs 89.30. About 0.61 lakh shares of the company changed hands at the counter.

Swasth Foodtech India's IPO was subscribed 7.48 times. The issue opened for bidding on 20 February 2025 and it closed on 24 February 2025. The price of the IPO was set at Rs 94 per share.

The IPO comprised fresh issue of 15,87,600 equity shares. The promoter and promoter group shareholding dilutes to 72.90% from 100% pre-issue.

The company intends to utilize the net proceeds to set up a packing line at its existing manufacturing unit, fund working capital requirements and general corporate purposes.

Swasth Foodtech India is engaged in the processing of edible rice bran oil from crude oil, which is subsequently sold to edible oil manufacturers and packers. The company produces a variety of grades and colors of edible rice bran oil, customized according to the specific needs of their customers. Their business model is structured to market and sell not only the finished productedible rice bran oilbut also the residues and byproducts produced during the processing. As a result, they also sell fatty acids, gums, spent earth, and wax in the open market. As of 30 September 2024, the company had 17 employees.

The company recorded revenue from operations of Rs 88.29 crore and net profit of Rs 1.83 crore for the period as of 30 September 2024.

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