Neopolitan Pizza shares debuted on the BSE SME platform at ₹19.25, a 3.75% drop from the IPO price of ₹20. The stock initially hit the lower circuit at ₹18.29 but later rebounded, trading 5% higher at ₹20.21 on the BSE.
Neopolitan Pizza And Foods IPO saw significant traction on Day 4, with the subscription reaching 32.72 times. This strong response reflects high investor interest in the offering, indicating a positive outlook for the company as it moves closer to closing its public offering successfully.
Neopolitan Pizza And Foods Limited operates in the restaurant sector and agricultural commodity trading. It owns and franchises Neopolitan-style pizza restaurants and trades agricultural products like wheat and onions. The company has expanded internationally with a subsidiary in the USA and is led by experienced promoters Mukund and Arti Purohit, enhancing its market presence with their expertise.
The NeoPolitan Pizza and Foods Ltd IPO aims to raise funds for 16 new restaurants (INR 7.08 crores), security deposits, rent, and brokerage (INR 0.39 crores), working capital (INR 3.52 crores), and general corporate purposes.