Stanbik Agro fixes price for IPO

Mumbai: Ahmedabad-based Stanbik Agro Ltd has fixed the price at Rs 30 per share for its initial public offering (IPO), which opens for public subscription on December 12, according to a statement.

The Ahmedabad-based company, which is engaged in contract farming, wholesale and supply of agricultural commodities, seeks to raise Rs 12.28 crore through the IPO, Stanbik Agro said.

The public offer comprises a fresh issue of about 40.92 lakh shares of face value of Rs 10 each.