SME IPO: Ayurvedic nutraceuticals player Accretion Nutraveda jumps 48%
Business
Accretion Nutraveda, a young player in Ayurvedic nutraceuticals, made a splashy debut on the BSE SME platform with shares opening at ₹191—up 48% from its ₹129 IPO price.
The IPO saw strong demand, getting oversubscribed by 1.77 times, especially among retail investors.
Company makes Ayurvedic nutraceuticals for domestic and export markets
Started in 2021, Accretion Nutraveda makes Ayurvedic tablets, capsules, powders and more at its certified Gujarat facility.
They serve both Indian and overseas markets like Sri Lanka and Singapore.
The company's recent revenue and profit figures were not disclosed in the source report.
IPO funds to boost automation and equipment purchases
Funds raised will help automate their current setup (₹4.22 crore), buy new equipment (₹8.03 crore), boost working capital (₹5.5 crore), and cover other business needs as they scale up.