Anya Polytech shares list at 22% premium; fall short of IPO GMP forecasts

Anya Polytech IPO listing: Shares of Anya Polytech & Fertilizers made a decent start on the NSE SME platform on Thursday, January 2, 2024, following the completion of its initial public offering. Anya Polytech shares listed at Rs 17.10 per share, reflecting a premium of Rs 3.10 or 22.14 per cent over the IPO allotment price of Rs 14.

 

Anya Polytech IPO listing fell short of the grey market expectations. Ahead of listing, Anya Polytech shares were quoted trading at Rs 20 per share, reflecting a grey market premium of Rs 6 or 42.86 per cent over the issue price of Rs 14. 

 

Anya Polytech IPO is a book-built issue of Rs 44.80 crore, which comprises an entirely fresh issue of 3,20,00,000 shares. The public offering was available at a price band of Rs 13-14, and a lot size of 10,000 shares. Anya Polytech IPO received an overwhelming response from the investors and ended with getting oversubscribed by 439.8 times on Monday, December 30, 2024.

 

The basis of allotment of Anya Polytech IPO shares was finalised on Tuesday, December 31, 2024.

 

The company, in its Red Herring Prospectus (RHP), said that it will use the proceeds to meet capital expenditure and working capital requirements in Anya Polytech & Fertilizers, and for setting up a new project in Yara Green Energy, a subsidiary company, along with working capital requirements. The company will further use the proceeds to meet working capital and capital expenditure in Arawali Phosphate, a subsidiary company, as well as for general corporate purposes.

 

Anya Polytech & Fertilizers Limited was incorporated in 2011. The company manufactures HDPE and PP bags, as well as Zinc Sulphate fertilizers. It began commercial production in January 2013 and operates at full capacity. The company's products include HDPE bags for bulk packaging and PP bags for packaging fertilizers and food grains. Anya Polytech also produces Zinc Sulphate Monohydrate fertilizers for agricultural and veterinary use. As of January 31, 2024, the company has 126 employees.