NEW DELHI : Uma Exports Ltd’s initial public offering (IPO) will run from March 28 to 30 and the firm engaged in trading and marketing of agricultural produce and commodities plans to list on April 7.
Uma Exports, which had filed draft papers in September 2021, expects to raise around Rs 60 crore via the IPO of which Rs 50 crore will fund working capital requirements. As of March 2021, the total sanctioned limit for working capital facilities stood at Rs 85 crore.
The company is engaged in trading and marketing of agricultural produce and commodities such as sugar, spices like dry red chillies, turmeric, coriander, cumin seeds, foodgrains like rice, wheat, corn, sorghum and tea, pulses, and agricultural feed like soybean meal and rice bran de-oiled cake.
The firm imports lentils, faba beans, black urad dal and tur dal majorly from Canada, Australia and Myanmar. The company primarily exports sugar to Sri Lanka, UAE and Afghanistan, and corn to Bangladesh.
Uma Exports is in the process of setting up a procurement office in Australia through a wholly owned subsidiary which will allow it to dispatch commodities directly to other global locations. This move will enable the company to save costs on freight and import duties among others, the firm said in its draft papers.
For FY21, total income stood at Rs 752.03 crore against Rs 810.31 crore a year ago. Net profit for the period stood at Rs 12.18 crore versus Rs 8.33 crore last year. Operating profit stood at Rs 21.25 crore versus Rs 19.75 crore a year ago. Total debt for the period stood at Rs 42.14 crore.