Proventus Agrocom Limited, the Mumbai-headquartered one-stop shop for healthy snacking solutions, made a stupendous debut on NSE Emerge – the SME exchange platform of the National Stock Exchange.
The company’s shares were listed at a premium of 12% at Rs 862 a share over its issue price of Rs 771 per share. It locked at upper circuit with only buyers on exchange.
The company witnessed total traded volumes of 1.67 lakh shares and clocked a turnover of approx. Rs 13.86 crore as of 11am on its debut day. The company’s IPO was issued open for subscriptions from May 24 to May 26 and the issue saw an overall subscription of close to 2.75 times. On the listing ceremony, many dignitaries and industry personalities were present to grace the occasion.
Durga Prasad Jhawar, Managing Director & CEO, Proventus Agrocom, said: “We aim to inspire healthier choices for nutritious living and sustained well-being by facilitating our customers with nature’s most nutritious snacks. The IPO and its success are an endorsement of the company’s experience in the agro produce industry, its efficient sourcing channels and distribution chain, and in the ProV brand which aims to target the growing lifestyle conscious buyers to expand its presence.”
Celebrity Chef Sanjeev Kapoor who is the brand ambassador of ProV attended the listing ceremony and said: “As ProV continues its journey as part of Proventus Agrocom, it remains fully committed to its core values and its mission of creating a line of ‘Nature’s Nutritious Produce’ to provide us with an alternative to those relatively unhealthy options that surround us in our fast-paced life. The company’s unwavering dedication to excellence, customer satisfaction, and technological innovation will continue to be the driving force behind its success. Whenever I meet the Proventus Team, I am amazed to see the breadth of knowledge. I am glad to partner with the ProV brand in a category that is growing quickly and one that I am especially fond of.”