Swasth Foodtech IPO off to a good start; subscription rises 2x, GMP up 26%

Swasth Foodtech IPO GMP zooms: Shares of rice bran oil producer and seller Swasth Foodtech are commanding a decent premium in the grey markets as their initial public offering opens for subscription today, February 20, 2025. Swasth Foodtech comprises a fresh issue of 1.58 million equity shares and is available at Rs 94 per share, with a lot size of 1,200 shares.

 

Sources tracking grey market activities revealed that Swasth Foodtech shares were trading at Rs 118 per share, reflecting a grey market premium (GMP) of Rs 24 per share, or 25.53 per cent over the IPO price.

 

Meanwhile, Swasth Foodtech IPO has seen a favorable response from investors, as it got subscribed around 1.94x per cent at around 03:44 PM on Thursday.

 

The subscription window for the Swasth Foodtech IPO is expected to close on Monday, February 24, 2025. Investors can bid for a minimum of 1,200 shares and in multiples thereof.

 

A retail investor would require a minimum of Rs 1,12,800 to bid for one lot of 1,200 shares. The minimum amount required by a High Net-Worth Individual (HNI) is Rs 2,25,600 for a minimum of 2 lots, or 2,400 shares.

 

Following the closure of the subscription window, the basis of allotment of Swasth Foodtech IPO shares is expected to be finalized on Thursday, February 25, 2025. Shares of Swasth Foodtech IPO are slated to list on the BSE SME, tentatively on Friday, February 28, 2025.

 

Mas Services is the registrar for the Swasth Foodtech IPO, while Horizon Management acts as the sole book-running lead manager for the issue. Giriraj Stock Broking is the market maker for the public offering.

 

Swasth Foodtech proposes to utilize the proceeds from the public offering for setting up a packing line at the existing manufacturing unit. The company further intends to use the IPO proceeds for funding working capital requirements as well as for general corporate purposes.

 

Incorporated in 2021, Swasth Foodtech India processes rice bran oil for sale to oil manufacturers and packers. The company produces various grades of rice bran oil, rich in Vitamin E and Oryzanol, offering heart-healthy benefits. Swasth Foodtech operates a zero-waste unit, reusing or selling by-products like gums, wax, and fatty acids. The company has a production capacity of 125 MT per day and operates a manufacturing facility in Purba Burdwan, West Bengal. Swasth Foodtech's products include rice bran oil and by-products like fatty acids, wax, and gums.