26-Feb-2024
2 mins read
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M.V.K Agro Food Product Limited is coming up with its Initial Public Offering. This IPO is open for subscription from Thursday, February 29, 2024, and will close on Monday, March 4, 2024. The price is decided at Rs 120 per share. The minimum lot size of this application for the retail category is 1200 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 2400 shares. The minimum amount of investment required for retail category investors is Rs 1,44,000 (120 x 1200 shares). However, for the HNI category, the minimum investment amount required is Rs 2,88,000 (120 x 2400 shares). M.V.K Agro Food Product Limited IPO 2024 is a book-built issue of Rs 65.88 crores. The IPO issue is completely a fresh issue of 54.9 lakh equity shares. The allotment for this IPO is expected to be finalised on Tuesday, March 5, 2024. M.V.K Agro Food Product Limited IPO will be listed on NSE SME, and the listing date is fixed on Thursday, March 7, 2024. The book-running lead manager of M.V.K Agro Food Product Limited IPO is Horizon Management Private Limited. The registrar for this IPO is Mas Services Limited. The market maker for this IPO is Nikunj Stock Brokers.
About M.V.K Agro Food Product Company
M.V.K Agro Food Product, incorporated in 2018, is a manufacturer of integrated sugar and other allied products. The company business has two segments: sugar and its by-products/waste products. In 2020, the company commenced manufacturing sugar, implemented backward integration, and began commercial operations of the by-products of sugar. M.V.K proposes diversifying its product portfolio by setting up a greenfield unit manufacturing ethanol, bio-CNG, and fertilisers. M.V.K Agro Food Product Limited sells its products through brokers. Brokers sell their products to the export houses such as PepsiCo Holdings India Private Limited, Parle Biscuits Private Limited and Britannia Industries Limited. Company operates a zero waste manufacturing facility. The waste generated is either sold or used to generate power. The manufacturing facility is located in Nanded District, Maharashtra.
Objectives of this M.K.V Agro Food IPO
The primary objective of this IPO is to raise funds from the public and get the benefits of listing. The net funds from this Initial public offering will be used to set up a greenfield unit in Nanded, Maharashtra. This unit is for manufacturing Ethanol, generation and bottling of Bio-CNG and fertilisers. Other than this, general corporate purposes will also be covered.
Financials Details of M.V.K Agro Food Product Limited (Amt in Rs Lakhs)
The company reported a revenue of Rs 6,044.36 lakhs and net profit of Rs 430.07 Lakhs for the period ending on September 30, 2023. The revenue decreased by -29.18% but profit after tax increased by 18.02% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 14,804.05 | 15,471.93 | 11,602.06 | 11,445.70 |
| Revenue | 6,044.36 | 9,393.63 | 13,263.56 | 2,583.10 |
| Profit After Tax | 430.07 | 377.45 | 319.81 | 140.41 |
| Net Worth | 1,767.74 | 1,337.67 | 960.22 | 640.41 |
| Reserves and Surplus | 1,267.74 | 837.67 | 460.22 | 140.41 |
| Total Borrowing | 6,281.23 | 9,156.10 | 6,001.32 | 7,496.33 |
Other Important Details of M.V.K Agro Food Product Limited IPO
| IPO Date | February 29, 2024 to March 4, 2024 |
| Listing Date | 7-Mar-24 |
| Face Value | Rs 10 per share |
| Price | Rs 120 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 5,490,000 shares |
| amounting to Rs 65.88 crore | |
| Fresh Issue | 5,490,000 shares |
| amounting to Rs 65.88 crore | |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 10,000,000 |
| Shareholding post issue | 15,490,000 |
| Market Maker portion | Nikunj Stock Brokers |
Lot Size of M.V.K Agro Food Product Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Minimum) | 1 | 1200 | Rs 144,000 |
| Retail (Maximum) | 1 | 1200 | Rs 144,000 |
| HNI (Minimum) | 2 | 2,400 | Rs 288,000 |
IPO Reservation of M.V.K Agro Food Product Limited
| Investor Category | Shares Offered |
| Shares Offered by Retail | 50 percent of the Net issue |
| Shares Offered by others | 50 percent of the Net issue |
Promoters of M.V.K Agro Food Product Limited and Their Holdings
Marotrao Vyankatrao Kawale, Sagarbai Marotrao Kawale, Ganeshrao Vyankatrao Kawale, Kishanrao Vyankatarao Kawale and Sandip Marotrao Kawale are the promoters of the M.V.K Agro Food Product Limited.
| Shareholding Pre Issue | 100 percent |
| Shareholding Post Issue | 64.56 percent |
Time-Table of M.V.K Agro Food Product Limited IPO
| IPO Open Date | Thursday, February 29, 2024 |
| IPO Close Date | Monday, March 4, 2024 |
| Basis of Allotment | Tuesday, March 5, 2024 |
| Initiation of Refunds | Wednesday, March 6, 2024 |
| Credit of Shares to Demat | Wednesday, March 6, 2024 |
| Listing Date | Thursday, March 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 4, 2024 |
Key Performance Indicator of M.V.K Agro Food Product Limited IPO
| KPI | Values |
| ROE | 32.85% |
| ROCE | 13.44% |
| Debt/Equity | 6.84 |
| RoNW | 32.85% |
| P/BV | 4.49 |
| Pre IPO | Post IPO | |
| Earning per share (Rs) | 3.77 | 5.55 |
| Price to Earning Ratio | 31.79 | 21.61 |
Lead Manager(s) of M.V.K Agro Food Product Limited IPO
The lead manager for M.V.K Agro Food Product Limited IPO is Horizon Management Private Limited.
How to Apply for M.V.K Agro Food Product Limited IPO?
Wait for the public issue to open for subscription, then visit Bigul website to apply for the M.V.K Agro Food Product Limited IPO with Bigul.
How to Check the Allotment Status of M.V.K Agro Food Product Limited IPO 2024?
The registrar for M.V.K Agro Food Product Limited IPO is Mas Services Limited. To check your allotment status, please click here.
FAQs
- What is M.V.K Agro Food Product Limited IPO?
M.V.K Agro Food Product Limited IPO 2024 is a book-built issue of Rs 65.88 crores. The IPO issue is completely a fresh issue of 54.9 lakh equity shares. The price is decided at Rs 120 per share. The minimum lot size of this application for the retail category is 1200 shares.
- Who are the lead managers for the M.V.K Agro Food Product Limited IPO 2024?
Horizon Management Private Limited are appointed as the lead managers for the IPO.
- What is the role of Mas Services Limited in this IPO?
Mas Services Limited is the registrar for M.V.K Agro Food Product Limited, handling the IPO’s administrative aspects.
- How can I apply for the M.V.K Agro Food Product Limited IPO?
The public subscription of this IPO will open on February 29, 2024. Visit the Bigul website for the application process.
- How will the net proceeds from the IPO be utilised?
The net funds received from this issue will be used for setting up a greenfield unit in Nanded, Maharashtra. This unit is for manufacturing Ethanol, generation and bottling of Bio-CNG and fertilisers. Other than this, general corporate purposes will also be covered.
- How can I check the allotment status of the IPO?
Investors can check the allotment status of the M.V.K Agro Food Product Limited IPO 2024 by visiting here.
- What is the financial performance of M.V.K Agro Food Product Limited?
The company reported a revenue of Rs 6,044.36 lakhs and net profit of Rs 430.07 Lakhs for the period ending on September 30, 2023.
- When will the allotment get finalised and what is the listing date?
The allotment for this IPO is expected to be finalised on Tuesday, March 5, 2024 and the listing date is fixed on Thursday, March 7, 2024.