The scrip was listed at Rs 39.97, a discount of 4.83% compared with the issue price. The scrip hit a high of Rs 40 and a low of Rs 37.98. About 6.42 lakh shares of the company changed hands at the counter.
The initial public offer (IPO) of Shelter Pharma was subscribed 13.63 times. The issue opened for bidding on 10 August 2023 and it closed on 14 August 2023. The price of the IPO was fixed at Rs 42 per share.
The IPO comprised fresh issue of 38,50,000 shares. The promoter and promoter group shareholding diluted to 56.88% from 84.92% pre-IPO.
The company intends to utilize the net proceeds for working capital requirements and general corporate purpose.
Shelter Pharma primarily focuses in manufacturing herbal products with well-built presence in Human Pharma as well as Veterinary space. In the Human pharma segment, Shelter has product portfolio of OTC products as well Ethical pharma products. Similarly, Shelter has OTC and Ethical presence in Veterinary segment. Shelter Pharma also has presence in various other countries like Egypt, Kuwait, Bangladesh, Qatar. The company has 18 employees.
The company recorded a revenue from operations of Rs 30.12 crore and net profit of Rs 4.94 crore for the period ended as on 31 March 2022.