Baba Food Processing IPO: Check GMP, subscription other key details

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Baba Food Processing IPO opened on November 3 and will close on November 7. Price band is Rs 72-76 per share.

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Baba Food Processing manufactures wheat flour products like atta, sooji, etc. Promoter is Yogesh Kumar Sahu.

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IPO size is Rs 33 crore, completely a fresh issue with no OFS component.

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Funds to be used for setting up new manufacturing facility, machinery purchases, working capital, repayment of debts.

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IPO saw strong demand on Day 1, subscribed 2.44 times overall. Retail portion subscribed 3.06 times.

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Grey market premium is +Rs 30, indicating positive investor sentiment.

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Company posted good growth in revenue and profits in last fiscal year.

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IPO valued at P/E of 30.62 based on annualized FY24 earnings, fully priced as per analysts.

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Company faces high competition in flour market. IPO best suited for medium to long term investors.

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