Live
- Can Meditation and Mindfulness Help you Propel your Career?
- People in Karnataka won't tolerate ‘rowdyism’ in politics: Bommai
- Iran's President again warns Israel against counterattack
- Atlantis Dubai secures IBCCES Certified Autism Center designation
- Canadian government too emulating TN Chief Minister's school breakfast scheme: Udhayanidhi Stalin
- No one stole the party, says Ajit Pawar in veiled retort to Sharad Pawar
- 6 skin tightening face packs for flawless skin
- AAP releases its 40 star campaigners for Gujarat, Sunita Kejriwal's name also included
- Supreme Court Considers Voting Transparency: Challenges Of Reverting To Paper Ballots Examined
- Arrests Made In Salman Khan Residence Shooting Case: Suspects' Intricate Escape Journey Unveiled
UMA Exports IPO: Opens today; Find details before investing
UMA Exports will launch its public offer on Monday, March 28, 2022. The company has fixed a price band for its public issue at Rs 65-68 per share.
UMA Exports will launch its public offer on Monday, March 28, 2022. The company has fixed a price band for its public issue at Rs 65-68 per share. The bid lot will be 220 Equity Shares and in multiples thereof. The issue will remain open for bidding till Wednesday, March 30, 2022.
The Kolkata-based company has plans to raise up to Rs 60 crore from the public issue and will utilise Rs 50 crore out of this to fund its working capital requirements. As of March 2021, it had a total sanctioned limit of working capital facilities of Rs 85 crore, including fund-based and non-fund-based limits.
Initiation of refunds and credit of equity shares to Demat accounts of allottees will be on April 5, 2022. The company has plans to debut on the bourses on April 7, 2022.
The issue is a 100 per cent book building. Corporate Capital Ventures Private Limited is acting as the book running lead manager of the issue while Mas Services Limited is the registrar.
Uma Exports is engaged into trading and marketing of agricultural produce and commodities such as sugar, spices like dry red chillies, turmeric, coriander, cumin seeds, food grains like rice, wheat, corn, sorghum and tea, pulses and agricultural feed like soyabean meal and rice bran de-oiled cake.
It imports lentils, faba beans, black Matpe, and toor (Pigean Peas) in India in bulk quantities. Its major imports are from Canada, Australia and Burma. The company is a B2Btrader, highly specialized in sugar, corn and dal. It primarily exports sugar to Sri Lanka, the UAE and Afghanistan and corn to Bangladesh. The company maintains stocks and distribute them to different institutional parties like manufacturers, exporters, etc.
Uma Exports is in process of creating a procurement office located in Australia through a wholly-owned subsidiary, which will allow it to procure the commodities directly from Australia and then ship directly to various global locations. It will help Uma in reducing costs such as freight and import duties, and thereby improve its profitability as per the draft papers submitted to the regulator of markets in September 2021.
