Gajanand International Limited IPO

NiftyTrader • September 9, 2024

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Gajanand International Limited IPO

Gajanand International Limited IPO opens on September 9, 2024, and closes on September 11, 2024. The allotment for the Gajanand International Limited IPO is anticipated to be completed on Thursday, September 12, 2024. The IPO will be tentatively listed on the NSE and SME on Monday, September 16, 2024.

Gajanand International Limited IPO’s price band is Rs 36 per share per share. The IPO is a book-built issue of Rs 20.65 crores. The issue is entirely a fresh issue of 57.36 lakh shares.

Gajanand International IPO Details

IPO Date	September 9, 2024 to September 11, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹36 per share
Lot Size	3000 Shares
Total Issue Size	5,736,000 shares (aggregating up to ₹20.65 Cr)
Fresh Issue	5,736,000 shares (aggregating up to ₹20.65 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	NSE SME
Shareholding pre-issue	13,099,568
Shareholding post-issue	18,835,568
Market Maker portion	288,000 shares

Gajanand International IPO Lot Size

Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	3000	₹108,000
Retail (Max)	1	3000	₹108,000
S-HNI (Min)	2	6000	₹216,000

Gajanand International IPO Objectives

The Company proposes to utilize the funds being raised towards funding the following objects and achieve the benefits of listing on the Emerge Platform of NSE.
The objects of the Issue are:-

To Meet Working Capital Requirement.
To meet the Working Capital requirements of the Company;
To meet out the Issue Expenses.

About Gajanand International Limited

Founded in 2009, Gajanand International Limited, previously Gajanand Cottex Private Limited, specializes in producing high-quality, sustainable cotton varieties including Mech1, Shankar6, DCH 32, and Khol. With an annual capacity of 37,500 MT, the company benefits from strategic locations for raw material harvesting and efficient transportation. Its scalable operations and diverse product range enhance adaptability to market shifts. As of March 31, 2024, Gajanand International employs 22 staff members, underscoring its commitment to growth and innovation.

Gajanand International Limited Financial Information

Gajanand International Limited’s revenue increased by 48% and profit after tax (PAT) rose by 59% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	3,931.1	1,900.58	1,944.36
Revenue	10,874.81	7,342.4	6,176.21
Profit After Tax	223.73	141.06	2.85
Net Worth	1,771.36	547.62	406.57
Reserves and Surplus	461.4	505.75	364.7
Total Borrowing	1,207.07	1,179.48	1,465.28
			Amount in ₹ Lakhs

Gajanand International IPO Reservation

Gajanand International IPO offers 57,36,000 shares. 27,24,000 (47.49%) to NII, 27,24,000 (47.49%) to RII.

Investor Category	Shares Offered
Anchor Investor Shares Offered	–
Market Maker Shares Offered	2,88,000 (5.02%)
Other Shares Offered	27,24,000 (47.49%)
Retail Shares Offered	27,24,000 (47.49%)
Total Shares Offered	57,36,000 (100%)

Gajanand International IPO Timeline

Gajanand International IPO opens on September 9, 2024, and closes on September 11, 2024.

IPO Open Date	Monday, September 9, 2024
IPO Close Date	Wednesday, September 11, 2024
Basis of Allotment	Thursday, September 12, 2024
Initiation of Refunds	Friday, September 13, 2024
A credit of Shares to Demat	Friday, September 13, 2024
Listing Date	Monday, September 16, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 11, 2024