US Jobs Data Rebounds While NFP Sampoorna Foods Pulls SME Offer
Search queries for NFP news are currently split across two major market events: global investors tracking the latest U.S. Non-Farm Payrolls data, and Indian equity traders following the withdrawal of New Delhi-based dry fruits distributor NFP Sampoorna Foods’ initial public offering.
- U.S. job growth is expected to pick up in October with moderate wage gains despite inflation eroding paychecks.
- Delhi-based NFP Sampoorna Foods set its IPO price band at ₹52 to ₹55 per share with a minimum lot size of 2,000 shares.
- NFP Sampoorna Foods withdrew its public offer despite reaching 1.54 times subscription ahead of its planned May 25 NSE Emerge listing.
On the macroeconomic front, U.S. job growth is expected to pick up in October with moderate wage gains, bringing renewed stability after recent stock market declines. Meanwhile, domestic primary market trackers saw NFP Sampoorna Foods pull back its planned listing on the NSE Emerge platform despite accumulating bids up to 1.54 times the offered shares.
What is driving the U.S. jobs data?
The monthly U.S. jobs report points to an expected rebound in hiring for October following a period of stock market weakness. Reuters reported that job creation is projected to accelerate alongside a moderation in wage increases.
However, inflation continues to erode the purchasing power of the American paycheck. The expected uptick in hiring comes at a time when wage growth is cooling, presenting a mix of steady workforce expansion alongside persistent pressure on household budgets.
What were the details of the NFP Sampoorna Foods IPO?
Before pulling its issue, New Delhi-based NFP Sampoorna Foods had structured a small and medium enterprise (SME) public issue to raise capital. The company specialises in the processing and distribution of high-quality dry fruits and processed cashew nuts.
Mint reported that the company fixed its IPO price band at ₹52 to ₹55 per equity share. Bidders were required to apply for a minimum lot size of 2,000 equity shares, with further bids allowed in multiples of 2,000 shares.
The subscription window opened on May 18 and was scheduled to close on May 20. Bidding records across the three-day window showed steady demand progression:
- Day 2: The issue was booked 73% (0.73 times).
- Day 3: Subscription reached 1.26 times the available shares.
- Final Close: Overall subscription reached 1.54 times.
Moneycontrol reported that the company had originally scheduled to finalise share allotment by May 21, with equity trading set to begin on the NSE Emerge platform on May 25.
Why was the Indian SME issue withdrawn?
Despite completing its bidding cycle with a 1.54-times subscription figure, NFP Sampoorna Foods decided to withdraw its scheduled IPO plan right before it was opened for subscription. The decision halted the planned May 21 allotment and May 25 listing sequence on the NSE Emerge platform.
The withdrawal occurred alongside other SME activity in the primary market. Moneycontrol reported that while the New Delhi-based cashew distributor pulled its offer, the public issue of Grover Jewells was fully subscribed on its opening day.
The cancellation leaves NFP Sampoorna Foods’ fundraising plans on hold, with no updated listing schedule announced for its dry fruit processing business.
Based on reports from
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