The IPO of Uma Exports Limited is going to be launched amid apprehensions of postponing the initial public offering (IPO) of LIC. This IPO will open for investors on March 28. At the same time, the last date is 30 March. This means that the company’s IPO will be closed in the last week of the current financial year. At the same time, the company is planning to list on April 7.
In September 2021, Uma Exports had filed draft papers with SEBI. The company is planning to raise around Rs 60 crore through this IPO. Of this, Rs 50 crore will meet the working capital requirements. As of March 2021, the total sanctioned limit for working capital facilities was Rs 85 crore.
Buying of shares of Rs 4 is increasing every day, the strongest performance of 52 weeks
The company is engaged in trading and marketing of agricultural products and sugar, spices like dry red chillies, turmeric, coriander, cumin, rice, wheat, maize, jowar and tea, pulses. The company imports pulses, faba beans, black urad dal and tur dal mainly from Canada, Australia and Myanmar. While Sri Lanka exports sugar to UAE, Afghanistan and maize to Bangladesh.
Uma Exports is in the process of setting up an office in Australia through a wholly owned subsidiary that will allow it to ship items directly to other global locations. The firm, in its draft paper, said the move would help the company save costs on freight and import duty.