Rukmani Devi Garg Agro Impex Shares Debut at 20% Discount on BSE SME

Shares of Rukmani Devi Garg Agro Impex made a cautious entry into the market on October 6, listing at Rs 79.20 per share on the BSE SME platform. This opening price came at a 20% discount to its IPO price of Rs 99, reflecting a muted start for investors despite strong initial interest in the offering.

Market Performance

• Listing price: Rs 79.20
• IPO price: Rs 99
• Discount on listing: 20%

The debut highlights a difference between investor enthusiasm during the IPO subscription and the market’s immediate reaction on listing day.

IPO Details

"Rukmani Devi Garg Agro Impex launched its IPO to raise Rs 23.5 crore, entirely through a fresh issue of shares."

Key points of the IPO:

• Price band: Rs 93–99 per share
• Minimum investment: 1,200 shares (~Rs 1.19 lakh)
• Subscription period: September 26–30, 2025
• IPO subscription: 28+ times overall

Among investors, Non-Institutional Investors (NII) showed the strongest interest, oversubscribing their reserved quota over 57 times during the bidding period.

The company plans to use the proceeds to:

• Fund working capital requirements
• Support general corporate purposes

Fedex Securities acted as the book running lead manager, while Bigshare Services Pvt Ltd served as the registrar of the issue.

Company Overview

Rukmani Devi Garg Agro Impex operates in the agricultural produce aggregation sector, focusing on sourcing, collecting, and distributing farm products. The company’s business model relies on connecting farmers with buyers efficiently, aiming to streamline supply chains and enhance market access for agricultural produce.

Summary

The IPO of Rukmani Devi Garg Agro Impex attracted strong investor interest but opened at a notable discount, reflecting cautious market sentiment. With plans to deploy funds for working capital and corporate purposes, the company aims to strengthen its operations in the agri-aggregation sector.

Key Takeaways:

• Shares listed at Rs 79.20, 20% below IPO price
• IPO raised Rs 23.5 crore entirely through fresh issue
• Strong subscription during IPO, especially from NII
• Funds intended for working capital and general corporate use

The debut highlights the dynamics between IPO subscription enthusiasm and market listing realities, offering insights into investor behavior in the BSE SME segment.