IPO Update: Opportunity to earn big money next week, IPO of this company coming before LIC, know full details


new Delhi. There is good news for those investing in IPO. The coming week is an opportunity for them to make big profits. Actually, Uma Exports Limited’s IPO (Uma Exports Limited IPO) is going to be launched amidst fears of postponing LIC’s initial public offering (LIC IPO). This IPO will open for investors on March 28. The last date is 30 March.

This means that the company’s IPO will be closed in the last week of the current financial year. The company is planning to list on April 7. Uma Exports had submitted the draft papers with the market regulator Sebi in September 2021.

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Plan to raise Rs 60 crore

Uma Exports is planning to raise around Rs 60 crore through this IPO. Of this, Rs 50 crore will be used to meet the working capital requirements. The total sanctioned limit for working capital facilities as of March 2021 was Rs 85 crore.

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Know what the company does

The company is engaged in trading and marketing of agricultural products and sugar, spices like dry red chilli, turmeric, coriander, cumin, rice, wheat, maize, jowar and tea, pulses. The company imports pulses, faba beans, black urad dal and tur dal mainly from Canada, Australia and Myanmar. Sri Lanka exports sugar to UAE, Afghanistan and maize to Bangladesh.

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import duty will be saved

Uma Exports is in the process of setting up an office in Australia through a wholly owned subsidiary. This will allow it to ship items directly to other global locations. The company said in its draft paper that this move will help the company save cost on freight and import duty.

Monitoring the financial position of the company

The company’s total income in the financial year 2021 was Rs 752.03 crore, which was Rs 810.31 crore a year ago. Net profit stood at Rs 12.18 crore in FY 2021 as against Rs 8.33 crore in its previous year. The operating profit of the company stood at Rs 21.25 crore, as against Rs 19.75 crore a year ago. The company’s total debt stood at Rs 42.14 crore during this period.

Tags: investment, IPO, LIC IPO, stock return


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