Arunaya Organics IPO Day 2 update; subscription at 96%, GMP remains flat

Arunaya Organics' unlisted shares were trading flat at ₹58, the upper price band, in the grey markets

Arunaya Organics IPO Day 2 update: The initial public offering (IPO) of dyes manufacturer Arunaya Organics has received a decent response from investors as the issue has been subscribed 96 per cent as of 12:28 PM on Wednesday, April 30, 2025, day 2 of subscription, according to data from NSE. The SME IPO opened for public subscription on Tuesday, April 29 and will close on Friday, May 2, 2025. 

 

The portion reserved for retail investors has been fully subscribed at 1.65 times. The qualified institutional buyers (QIBs) portion was booked 97 per cent and the non-institutional investors (NIIs) portion was subscribed only 22 per cent.

 

Arunaya Organics IPO GMP

The unlisted shares of Arunaya Organics were trading flat at ₹58, the upper price band, in the grey markets, according to the sources tracking unofficial markets.  ALSO READ | Ather Energy IPO ends today; check subscription status, GMP, listing date

 

Arunaya Organics IPO details

Arunaya Organics IPO aims to raise ₹33.99 crore through a bookbuilding issue. The SME issue comprises a fresh issue of 5.26 million shares amounting to ₹30.51 crore and an offer for sale (OFS) of 0.6 million shares amounting to ₹3.48 crore. The basis of allotment of shares is likely to be finalised on Monday, May 5, 2025. The shares of Arunaya Organics will be listed on the NSE SME platform, tentatively on Wednesday, May 7, 2025. 

 

According to the red herring prospectus (RHP), the company has set the price band in the range of ₹55-58 per equity share. Retail investors require a minimum investment amount of ₹1,10,000 to subscribe for a minimum of one lot comprising 2,000 shares. High-net-worth individuals (HNIs) can bid for a minimum of two lots consisting of 4,000 shares with a minimum investment amount of ₹2,32,000.

 

Bigshare Services serves as the registrar of the issue. Unistone Capital is the sole book-running lead manager. 

 

The company aims to utilise ₹11.78 crore from the net issue proceeds for setting up a new manufacturing facility, located at Dahej, Bharuch in Gujarat and ₹9 crore for meeting working capital requirements. The remaining funds will be used for general corporate purposes, as per RHP.  ALSO READ | Iware Supplychain IPO Day 3 update; check subscription, GMP, key dates

 

About Arunaya Organics

Incorporated in July 2010, Arunaya Organics is engaged in trading and manufacturing of different types of dyes and its intermediaries. It supplies a wide range of products including reactive, acid, direct, basic and solvent dyes, as well as dye intermediaries. The company caters to both domestic and international markets. Its manufacturing facility located in Ahmedabad, Gujarat has an annual capacity of 30 metric tonne per annum. 

 

In fiscal year 2023-24 (FY24), the company reported revenue from operations of ₹62.23 crore, down 17.95 per cent from ₹75.85 crore in the previous financial year. Its profit after tax (PAT) grew 133.86 per cent Y-o-Y to ₹4.05 crore compared to ₹1.73 crore in the year-ago period.