look news india
Hamps Bio Limited, a small but influential company, has made a big entry in the stock market. The company’s shares were listed at ₹96.90 with a huge premium of 90%, while its issue price was only ₹51. Hemps Bio’s IPO opened on 13 December 2024 and closed on 17 December. The company is primarily active in the marketing and distribution of tablets, syrups, capsules, injectables, oils, and nutritional supplements.
Status of Upper Circuit after listing
Immediately after the listing, shares of Hemps Bio performed strongly. Their price reached ₹ 101.74 with 5% upper circuit. This performance proved to be extremely beneficial for the company’s investors. This is an increase of almost 100% compared to the issue price of ₹51. The total market capitalization of the company has now crossed ₹44 crore.
Before the IPO, the promoters’ stake in the company was 100%, which has now come down to 71.99%.
Record of 1057 times subscription to IPO
Hemps Bio’s IPO was subscribed a record-breaking 1057 times.
- It received 1342.04 times subscription in the Retail Investors category.
- It was subscribed 758.27 times in the Non-Institutional Investors (NII) category.
Retail investors were allowed to invest only in 1 lot, consisting of 2000 shares. The price of each lot was ₹102,000. The total public issue size of this IPO was ₹6.22 crore.
Use of funds raised from IPO
Hemps Bio Limited will use the funds raised from the IPO for various purposes, including:
- Purchase of Plant and Machinery for FMCG Division.
- Increase brand visibility and awareness.
- To meet general corporate needs.
Company presence and product portfolio
As of October 31, 2024, Hemps Bio Limited offers more than 180 products. The company has only 78 employees, reflecting its small but impressive operation.
Beginning of benefits for investors
The spectacular listing of Hemps Bio has given tremendous returns to investors. This small-scale company is proving popular among investors due to its effective business model and product portfolio.
Going forward, it will be interesting to see how the company executes its growth plans using the funds raised from its IPO.