Anya Polytech & Fertilizers IPO launches today: Review all information & the most recent GMP

The initial public offering (IPO) of Anya Polytech & Fertilizers is set to begin bidding on Thursday, December 26, and will remain open until Monday, December 30. The company is offering its shares at a price range of Rs 13-14 each, with a minimum application requirement of 10,000 equity shares and additional shares in multiples of that amount.

Founded in 2011 and based in New Delhi, Anya Polytech & Fertilizers specializes in manufacturing fertilizers and bags, as well as providing environmental solutions. The company produces high-quality high-density polyethylene (HDPE) and polypropylene (PP) bags, along with zinc sulphate fertilizers.

The IPO will consist of a fresh share issuance of 32 million equity shares, amounting to Rs 44.80 crore. The proceeds from this offering will be used to establish a new project in Yara Green Energy, to meet capital expenditure and working capital needs for the company and its subsidiaries, and for general corporate purposes.

Retail investors can apply for a single lot of 10,000 equity shares, which will cost Rs 1,40,000 at the upper end of the price range. Other investors must apply for a minimum of two lots, totaling 20,000 equity shares, at a cost of Rs 2,80,000 at the upper end of the price range.

Before the IPO, Anya Polytech raised Rs 12.74 crore from anchor investors by allocating 9.1 million equity shares at Rs 14 each. The anchor book includes notable names such as Zeta Global Funds, NAV Capital VCC, Aarth AIF, Nexus Equity Growth Fund, Shina Start Build Cap, Galaxy Noble Opportunities Fund, and Next Orbit Growth Fund.

For the three months ending June 30, 2024, Anya Polytech reported a net profit of Rs 4.544 crore, with revenues of Rs 40.73 crore. For the financial year 2023-24, the company's net profit was Rs 9.98 crore, with total revenues of Rs 125.06 crore. The grey market premium (GMP) for the company is currently Rs 3, indicating a potential upside of 22 percent for investors.

Of the net offer, 50 percent is reserved for qualified institutional bidders (QIBs), 15 percent for non-institutional investors, and 35 percent for retail investors. The company is expected to have a market capitalization of Rs 168 crore.

Beeline Capital Advisors serves as the book-running lead manager for the Anya Polytech IPO, while Skyline Financial Services is the registrar for the issue. Spread X Securities acts as the market maker for the IPO. Shares of Anya Polytech are anticipated to be listed on the NSE SME platform on Thursday, January 2, 2025.