SMEs in Gujarat attracts investors interest, scoops huge in IPOs

New Delhi, May 10 (KNN) Gujarat based Zota Healthcare Ltd and Euro India Fresh Foods ltd, recently scooped big amount through the Initial Public Offerings (IPOs).

Zota Healthcare, a Pharma enterprise based in Gujarat  entered the market with an IPO intending to raise Rs 58.14 crores. This is the biggest SME public offer so far. The company received an overwhelming response with bids amounting to Rs 930 crores whereas the company offered shares of Rs 58.14 crores. The issue got oversubscribed by 15.97 times and it is all set to get it shares listed under the National Stock Exchange’s SME exchange today.

Another enterprise from Surat, Euro India Fresh Foods churned up Rs 51.25 crores through the public offering.

Talking to press, Mahavir Lunawat, MD at Pantomath Capital Advisors said that few time back no one could have imagined that an SME could go to the market with an IPO of Rs 50 crores or more. But this has changed and the Entrepreneurs have bigger dreams and visions now

He also said that the prime reason for the increasing investment is the presence of a prosperous ecosystem in the state across sectors. Also earlier there was lack of information and awareness in the State regarding the listing, but now more and more companies know about it and are getting numbered under the SME exchanges.

Pantomath Capital has been taking care of both these IPOs. (KNN/ DA)