Uma Exports IPO To Open On March 28: Check Details

Amid sell off in the wake of Russia-Ukraine crisis which began in February end and high volatility, government even had to defer its LIC IPO plan. Now, even as the primary market activity has come to a halt, there is an upcoming IPO of Rs. 60 crore by Uma Exports.

The IPO offer period is from March 28 to 30 and it plans to debut on the bourses on April 7, 2022.

The company filed its draft papers for the public issue with the SEBI in September 2021. Through the issue, the company aims to mop up around Rs. 60 crore, of which Rs. 50 crore will finance working capital reqiurement. The overall limit for working capital as of March 2021 is placed at Rs. 85 crore.

Uma Exports, a Kolkata based company, 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.The company 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. The company maintains stocks and distribute them to different institutional parties like manufacturers, exporters, etc.

For Fy 2021, company's total income had been at Rs. 752.03 crore as against Rs. 810.31 in the year ago period. Net profit for the period stood at Rs 12.18 crore versus Rs 8.33 crore last year.

As per experts, this is perhaps a small sized IPO and hence it will list under T2T category at NSE and BSE.