Shanthala FMCG Products Ltd Share Price – NSE

Trading, Small Cap

Shanthala FMCG Products will hold a meeting of the Board of Directors of the Company on 23 November 2023.

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The scrip was listed at Rs 108, up 18.68% over the initial public offer (IPO) price. The stock was currently trading flat compared with its listing price.

The counter hit a high of Rs 113.40 and a low of Rs 103. About 4.05 lakh shares of the company changed hands at the counter.

Shanthala FMCG Products' IPO was subscribed 3.75 times. The issue opened for bidding on 27 October 2023 and it closed on 31 October, 2023. The price of the IPO was fixed Rs 91 per share.

The IPO comprised fresh issue of 17,66,400 shares. The promoter and promoter shareholding diluted to 57.019% from 77.442% pre-IPO.

The company intends to utilize the net proceeds to meet funding working capital and general corporate purpose.

Shanthala FMCG Products is a FMCG product distributor for the large size FMCG Companies in India for whom it distributes branded packaged foods, personal care products, education & stationery products, matches & agarbatti and tobacco products. branded Beauty & wellbeing, Nutrition, Personal care & Home care products as well as food products like Oil, Sugar and Atta. The company's customers are local retailers and wholesalers located in their region. As on September 30, 2023, the company has total 26 employees.

The company recorded revenue from operations of Rs 15.74 crore and net profit of Rs 0.10 crore for the period as on 31 August 2023.

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