Uma Exports’ IPO is set to begin on March 28 with an objective of raising Rs 60 crore
- ByStartupStory | March 19, 2022
The initial public offering (IPO) of Uma Exports Ltd will take place from March 28 to 30, and the firm, which trades and markets agricultural produce and commodities, aims to go public on April 7.
Uma Exports, which filed draft papers in September 2021, expects to raise Rs 60 crore through the IPO, with Rs 50 crore going toward working capital. The entire sanctioned ceiling for working capital facilities was Rs 85 crore as of March 2021. Sugar, spices like dry red chillies, turmeric, coriander, and cumin seeds, foodgrains like rice, wheat, corn, sorghum, and tea, legumes, and agricultural feed like soybean meal and rice bran de-oiled cake are among the products traded and marketed by the company.
Lentils, faba beans, black urad dal, and tur dal are mostly imported from Canada, Australia, and Myanmar. Sugar is mostly exported to Sri Lanka, the United Arab Emirates, and Afghanistan, whereas corn is primarily sent to Bangladesh.
Uma Exports is establishing a procurement office in Australia through a completely owned subsidiary, which will enable it to ship commodities directly to other parts of the world. According to the firm’s draft filings, this move will allow it to save money on freight and import duties, among other things.
Total income for FY21 was Rs 752.03 crore, down from Rs 810.31 crore the previous year. The net profit for the period was Rs 12.18 crore, up from Rs 8.33 crore the previous year. Operating profit was Rs 21.25 crore, up from Rs 19.75 crore the previous year. For the time, the total debt was Rs 42.14 crore.
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