ENA MSME 2024-03-27 16:00:24 <p><span style="font-size:14px"><strong>New Delhi, Mar 27 (KNN)</strong> Chatha Foods Limited, a frozen food products company, made a strong stock market debut on Wednesday. The company's shares got listed at Rs 73 on the BSE SME platform, marking a premium of 30.36 per cent over the issue price of Rs 56 per share.</span></p> <p><span style="font-size:14px">The Rs 34-crore initial public offering (IPO) of Chatha Foods witnessed robust investor demand, with the issue being subscribed a whopping 19.28 times. The stellar response underscores the investor appetite for the company's business prospects.</span></p> <p><span style="font-size:14px">Established in 1997, Chatha Foods specializes in processing a range of frozen food products, including chicken appetizers, meat patties, chicken sausages, and sliced meat.</span></p> <p><span style="font-size:14px">The company caters to quick-service restaurants (QSRs), casual dining restaurants (CDRs), and other entities in the hotel, restaurant, and catering (HORECA) segment.</span></p> <p><span style="font-size:14px">The IPO, which was entirely a fresh issue of 59.62 lakh shares, closed for subscription on March 21. The strong demand was evident across investor categories.</span></p> <p><span style="font-size:14px">Retail investors bought shares 14.60 times their allocated quota, while qualified institutional buyers and high net worth individuals subscribed to 8.54 times and 44.52 times their respective portions.</span></p> <p><span style="font-size:14px">Chatha Foods plans to utilise the IPO proceeds to set up a new manufacturing unit and fund general corporate purposes, positioning itself for future growth in the frozen food segment.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37189 https://knnindia.co.in/news/newsdetails/msme/chatha-foods-ipo-listed-on-bse-sme-at-30-premium 2024-03-27 16:00:24 knnindia.co.in