Skyrocketing Start for TBI Corn with Shares Opening at ₹198, Surging 110% Above Issue PriceSkyrocketing Start for TBI Corn with Shares Opening at ₹198, Surging 110% Above Issue Price

TBI Corn’s shares soared on their NSE SME debut, launching at ₹198 per share, a remarkable 110.64% above the initial price of ₹94. This impressive opening marks a strong start for TBI Corn on the market, significantly outperforming its issue price.

The subscription for TBI Corn’s IPO began on May 31 and ended on June 4. With a price range of ₹90 to 94 per share and a minimum lot size of 1,200 shares, the IPO closed impressively, oversubscribed by 231.21 times on the final day.

TBI Corn Limited produces and exports GMO-free, additive-free corn products like grits, flakes, broken maize, and flour, along with turmeric. The company holds various international organic and ISO certifications and serves markets in the Gulf, Sri Lanka, Asia, Europe, and the US. They also supply top Indian firms in the cornstarch and cattle feed sectors, focusing on innovation and global expansion.

TBI Corn Limited’s IPO aims to expand its unit, boost production, and upgrade equipment with INR 16.80 crores, while allocating INR 17 crores for increasing working capital and general corporate purposes.