Leo Dryfruits & Spices kicked off its stock market journey with a bang on Wednesday, listing at ₹68 on the BSE SME platform—a solid 31% jump from its issue price of ₹52. However, the early enthusiasm cooled off quickly, with the stock slipping 2.2% to ₹66.50 in subsequent trading. The ₹25.12 crore IPO saw extraordinary demand during its subscription period from January 1 to January 3. Non-institutional buyers led the charge, oversubscribing their portion by a jaw-dropping 394 times, while retail investors followed with 154 times oversubscription. Even the qualified institutional buyers (QIBs) showed strong interest, bidding 68 times their allocated shares. Leo plans to channel the IPO proceeds into key areas like working capital, branding, advertising, marketing, and general corporate purposes. The majority of Leo’s business currently comes from Maharashtra, with sales in the state contributing over 96% of its revenue for the fiscal year ending March 2024. Now, Leo aims to extend its footprint across India and venture into international markets. Despite the initial dip post-listing, the market debut underscores strong investor confidence in Leo Dryfruits & Spices’ growth potential.