Neopolitan Pizza IPO listing: Shares of Neopolitan Pizza had a flat debut on the bourses on Wednesday, October 9, listing at ₹19.25 on the BSE SME, which is close to its IPO price of ₹20. The SME initial public offer (IPO), valued at ₹12 crore, was open for subscription from September 30 to October 4, 2024. The IPO is entirely a fresh issue of 60 lakh.
The IPO received a healthy response, with an overall subscription of 32.72 times.
The company plans to utilize the proceeds from the net fresh issue for several key initiatives. This includes setting up a new manufacturing unit to enhance its production capabilities.
Additionally, a portion of the funds will be allocated for the repayment or prepayment of certain debt facilities. Furthermore, the proceeds will cover expenses related to the registration of land purchased from the promoter. The company will also reserve some funds for general corporate purposes to support its overall operations and strategic objectives.
The company operates in two segments, namely the restaurant business and the trading of agricultural commodities. In the restaurant business, the company owns and operates its own restaurants as well as operates through a franchise model.
It offers Neopolitan-style pizza, which is a traditional Italian pizza made with fresh ingredients. The menu includes a variety of toppings, and the company offers gluten-free and vegetarian options. The brand was named “Neopolitan Pizza,” a name derived from the little village of Italy where Pizza originated.
In addition, the company deals in products such as wheat, rice, tomatoes, onions, and other such products. The trading segment of the business aims to source high-quality agricultural products from trusted suppliers and sell them to customers at competitive prices.
As of December 31, 2023, the company has 19 restaurants located in more than 16 cities, spread across 2 states and union territories in India, as per the company's DRHP report.
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