SME IPO of Sheel Biotech to list tomorrow
Sheel Biotech's IPO was in high demand, getting oversubscribed 15.97 times before closing on October 3.
Shares were priced at ₹63 each, with strong interest from all investor groups—QIBs subscribed 19.73 times, NIIs 25.92 times, and retail investors 9.56 times the shares available.
The company is all set to debut on the NSE SME platform on October 8.
What does Sheel Biotech do?
Started back in 1991, Sheel Biotech works in biotech, floriculture, and greenhouse tech—think high-quality planting materials grown via tissue culture and hydroponics.
They also help farmers with climate-controlled greenhouses and run training programs and certification services through Farmer Producer Organizations.
Financials and IPO details
For FY25 (ending March this year), Sheel Biotech's revenue grew by 11% to ₹102.27 crore while net profit held steady at ₹10.64 crore.
Money raised from the IPO will go toward expanding operations and working capital needs.
Market experts expect a debut price between ₹72-75 per share when trading starts on October 8.