Neopolitan Pizza had a flat start on the stock market on October 9, 2024. The company’s shares listed at ₹19.25 on the BSE SME, which is close to its IPO price of ₹20. The IPO, worth ₹12 crore, was open for bidding between September 30 and October 4, 2024. It was a fresh issue of 60 lakh shares, and the IPO received a strong response, with a subscription rate of 32.72 times.
Neopolitan Pizza plans to use the money raised from the IPO to expand its business. The company will set up a new manufacturing unit to boost production and will also use some funds to repay or reduce certain debts. Part of the money will go towards covering costs related to land purchased from the company’s promoter, and the rest will be used for general business needs.
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About Neopolitan Pizza
The company runs two types of businesses: its restaurant chain and trading agricultural products. It operates its own restaurants and has franchise outlets too. Neopolitan Pizza serves traditional Italian-style pizzas made with fresh ingredients, offering various toppings, gluten-free, and vegetarian options.
Neopolitan Pizza also trades agricultural products such as wheat, rice, tomatoes, and onions, sourcing these from reliable suppliers and selling them at competitive prices.
As of December 31, 2023, the company had 19 restaurants across 16 cities in two Indian states and union territories, according to its DRHP report.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
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