India, 2nd December 2022: Ambo Agritec Limited became the 408th company to get listed on the BSE SME Platform on December 02, 2022. Ambo Agritec Limited came out with an initial public offering of 34,00,000 Equity Shares of Rs.10 each (“Equity Shares”) for cash at a price of Rs. 30 per equity share (the “Offer Price”), aggregating to Rs. 10.20 crore. The company successfully completed its public issue on November 24, 2022.
Ambo Agritec Limited is a West Bengal-based Company whose registered office is at Kolkata. The company is engaged in the business of manufacturing of biscuits, outsourced manufacturing of edible oils, Vanaspati and Bengali speciality products (through third parties). In addition to this, the company is also engaged in trading of Crude Linseed Oil and Soyabean Meal. Ambo Agritec uses raw material of premium quality sourced from reputed local suppliers for Biscuits and raw materials imported for Edible Oils & Vanaspati, which help us to ensure the quality of our products.
Kolkata-based Finshore Management Services Limited, was the lead manager of Ambo Agritec Limited.
So far, 156 companies have migrated to the main board. The 407 companies listed on the BSE SME Platform have raised Rs.4,491.75 crore from the market and the total market capitalization of 407 companies as on December 01, 2022 is Rs. 64,000.00 Crore. BSE is the market leader in this segment with a market share of 61 percent.
SEBI came out with detailed guidelines on 18th May 2010 for the launch of an SME Exchange/Platform. BSE became the first stock exchange to get approval from SEBI and launched its SME platform on 13th March 2012.
The response since the launch of this platform by BSE has been positive till date.