new Delhi. There will be some hesitation in the initial public offering (IPO) market this week. IPOs of two companies will open this week. The first IPO will be of UMA Exports IPO. This will be the first IPO to come after almost two months. After this the IPO of Veranda Learning Solutions IPO will come in the market. Compared to last year, there have been fewer IPOs this year.
So far in the year 2022, only three companies have launched their IPOs and have raised ₹7,429 crore from them. The companies that have floated IPOs so far include Adani Wilmar, AGS Transact Technologies and Vedanta Fashions. Due to the volatility of the market, many companies have postponed their IPO for some time.
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Uma Exports IPO
The IPO of Uma Exports will be available for subscription from March 28 to March 30. Uma Exports has fixed the price band of its IPO at Rs 65-68. The company’s shares will be listed on April 7. Those who will get the shares will start showing the shares in their account by 6th April. Uma Exports wants to raise Rs 60 crore from the issue. Out of this, Rs 50 crore will be used by the company to meet the working requirements.
This is the work of the company
Uma Exports deals in trading, marketing and import-export of spices like red chilli, turmeric, cumin and coriander, rice, wheat, maize, jowar and tea and sugar etc. The company imports pulses, black urad dal and tur dal from Canada, Australia and Myanmar. It exports sugar to Sri Lanka, United Arab Emirates and Afghanistan and maize to Bangladesh.
The total income of Uma Exports in the financial year 2021 was Rs 752.03 crore. In the financial year 2021, the company’s net profit stood at Rs 12.18 crore as against Rs 8.33 crore last year. The operating profit of the company also increased and it reached Rs 21.25 crore in the financial year 20221 from Rs 19.75 crore last year.
Veranda Learning Solutions IPO
The IPO of Veranda Learning Solutions, which provides offline-online coaching for UPSE, CA, Banking and other government exams, will open for subscription from March 29 to 31. Veranda Learning provides integrated learning solution in online and offline mode. The company provides services to students, professionals and corporate employees through its 4 subsidiaries.
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The company has fixed the price band of IPO (Veranda Learning IPO Price Band) at Rs 130-137 per share. The company wants to raise Rs 200 crore through IPO. 75 per cent of the IPO is reserved for QIBs while 15 per cent is reserved for non-institutional investors. 10 per cent is reserved for retail investors. The allotment of shares is expected on April 5 and listing on April 7.
Tags: IPO, stock market
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