Ecoline Exim's ₹76cr IPO to list today: What to expect
Ecoline Exim's IPO wrapped up on September 25, raising ₹76.42 crore with shares priced at ₹134-141 each.
The offer included a fresh issue of ₹61.19 crore and an offer for sale of ₹15.23 crore.
Even with all the excitement—like anchor investors putting in ₹21.76 crore and the IPO being oversubscribed 6 times—experts expect the stock to list flat on the NSE SME platform today (September 30), since there's no premium in the gray market.
Eco-friendly packaging solutions for retail and supermarket chains
Ecoline Exim makes eco-friendly cotton and jute packaging, plus promotional bags, and ships them out to over 27 countries—including the US, Europe, Japan, and Mexico.
With three units in Gujarat and West Bengal, they mainly supply supermarkets and retail chains.
Institutional investors led the charge
Institutional buyers led the charge with a whopping 9.5x subscription; non-institutional investors subscribed 5.4x and retail folks went for 4.4x the shares offered.
For FY25, revenue was ₹273 crore (a bit lower than last year), while net profit came in at ₹18.8 crore compared to ₹22.6 crore previously—still showing steady business even as profits dipped slightly this year.