02-May-2024
2 mins read
TGIF Agribusiness IPO is open for subscription starting Monday, May 8, 2024, and closing on Thursday, May 10, 2024. The price of this upcoming IPO is decided at Rs 93 per share. The minimum lot size set for the retail category is 1200 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots with 2400 shares. The minimum investment required for retail category investors is Rs 1,11,600 (93 x 1200 shares). However, for the HNI category, the minimum investment amount required is Rs 2,23,200 (93 x 2400 shares). TGIF Agribusiness IPO is a book-built issue of Rs 6.39 crores. This upcoming IPO is a fresh issue of 6.88 lakh equity shares. The offer-for-sale component is not available on this issue. The allotment for this new IPO is expected to be finalised on Monday, May 13, 2024. TGIF Agribusiness IPO will be listed on NSE SME, and the listing date is fixed on Wednesday, May 15, 2024. The book-running lead manager of TGIF Agribusiness IPO is Hem Securities Limited. The registrar for this IPO is Bigshare Services Private Limited. The market maker of this issue is Hem Finlease.
About TGIF Agribusiness Limited
TGIF Agribusiness Limited was founded in 2014 and is engaged in the open-field cultivation of fruit and vegetables. Previously, it was known as ARV Farmpro LLP. The company is involved in cultivating pomegranates, dragon fruit and timber plantation. The company also grows and harvests seasonal vegetables and fruits such as lemons, watermelons and chilies. TGIF’s farmland is located in Ajari, Kasindra, Kojra in Rajasthan over an area of 110 acres. They sell most of its products through a Business-to-Business model to retailers, wholesalers, retail chains, hypermarkets and mandi’s. The company also plans to sell its products directly to customers through the B2C channel. As of November 30, 2023, the company has a team of 8 people at various levels of organisation.
Objectives of TGIF Agribusiness IPO
The net proceeds received from this initial public offer will be utilised to purchase agricultural equipment and irrigation systems. The remaining funds will be used for meeting the day to day expenses of the business. Additionally, the general corporate purposes will also be met.
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Financials of TGIF Agribusiness Limited (Amt in Rs Lakhs)
TGIF Agribusiness posted a revenue of Rs 171.79 lakhs and net profit of Rs 81.41 lakhs for the period ending on 30 Nov 2023. The company’s revenue increased by 12.14% and PAT increased by 12.63% between the FY ending on March 31, 2023 and March 31, 2022.
| Period Ended | 30-Nov-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 282.32 | 187.52 | 65.33 | 291.62 |
| Revenue | 171.79 | 232.28 | 207.14 | 181.59 |
| Profit After Tax | 81.41 | 130.07 | 115.48 | 38.18 |
| Net Worth | 190 | 175.89 | 45.82 | 257.91 |
| Total Borrowing | 67.3 | - | - | - |
Other Important Details of TGIF Agribusiness IPO
| IPO Date | May 8, 2024 to May 10, 2024 |
| Listing Date | 15-May-24 |
| Face Value | Rs 10 per share |
| Price | Rs 93 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 687,600 shares amounting to Rs 6.39 crore |
| Fresh Issue | 687,600 shares amounting to Rs 6.39 crore |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Shareholding pre issue | 1,900,000 |
| Shareholding post issue | 2,587,600 |
| Market Maker portion | 34,800 shares |
Time-Table of TGIF Agribusiness IPO
| IPO Open Date | Wednesday, May 8, 2024 |
| IPO Close Date | Friday, May 10, 2024 |
| Basis of Allotment | Monday, May 13, 2024 |
| Initiation of Refunds | Tuesday, May 14, 2024 |
| Credit of Shares to Demat | Tuesday, May 14, 2024 |
| Listing Date | Wednesday, May 15, 2024 |
| Cut-off time for UPI mandate | 5 PM on May 10, 2024 |
Lot Size of TGIF Agribusiness IPO
| Application | Lots | Shares | Amount |
| Retail - Minimum | 1 | 1,200 | Rs 111,600 |
| Retail - Maximum | 1 | 1,200 | Rs 111,600 |
| HNI - Minimum | 2 | 2,400 | Rs 223,200 |
IPO Reservation of TGIF Agribusiness Limited
| Investor Category | Shares Offered |
| Retail Shares | 50 percent of the net issue |
| Other Shares | 50 percent of the net issue |
Key Performance Indicator of TGIF Agribusiness Limited IPO
| KPI | Values |
| RoNW | 42.85 |
| P/BV | 9.3 |
| PAT Margin | 47.70% |
EPS and P/E Ratio Post IPO
| Pre IPO | Post IPO | |
| EPS (Rs) | 6.85 | 4.72 |
| P/E | 13.58 | 19.71 |
Promoters of TGIF Agribusiness Limited and Their Holdings
The promoters of TGIF Agribusiness company are Mr. Niraj Chhaganraj Gemawat and Ms. Rachana Niraj Gemawat.
| Shareholding Pre Issue | 99.80 percent |
| Shareholding Post Issue | 73.28 percent |
Lead Manager(s) of TGIF Agribusiness IPO
The lead manager for TGIF Agribusiness IPO is Hem Securities Limited.
How do you apply for the TGIF Agribusiness IPO?
Wait for the public issue to open for subscription, then click here to apply for the TGIF Agribusiness Limited IPO with Bigul.
How do you check the allotment status of TGIF Agribusiness IPO?
The registrar for TGIF Agribusiness IPO is Bigshare Services Private Limited. To check your allotment status, please click here.
FAQs
- What is the TGIF Agribusiness IPO?
TGIF Agribusiness IPO is a book-built issue of Rs 6.39 crores. This upcoming IPO is a fresh issue of 6.88 lakh equity shares. The offer-for-sale component is not available on this issue. The allotment for this new IPO is expected to be finalised on Monday, May 13, 2024.
- Who are the lead managers for the TGIF Agribusiness Limited IPO?
Hem Securities Limited is appointed as the lead manager for the IPO.
- What is the role of Bigshare Services Private Limited in this IPO?
Bigshare Services Private Limited is the registrar for TGIF Agribusiness Limited, handling the IPO's administrative aspects.
- How can I apply for the TGIF Agribusiness IPO?
The public subscription of this new IPO will open on May 8, 2024. Click here to initiate the application process.
- How will the net proceeds from the IPO be utilised?
The net proceeds received from this initial public offer will be utilised to purchase agricultural equipment and irrigation systems. The remaining funds will be used to meet the business's day-to-day expenses. Additionally, the general corporate purposes will also be met.
- How can I check the allotment status of the IPO?
Investors who applied can check the allotment status of the TGIF Agribusiness Limited IPO by visiting here. For further updates follow Bigul.
- What is the financial performance of TGIF Agribusiness Limited?
TGIF Agribusiness posted a revenue of Rs 171.79 lakhs and net profit of Rs 81.41 lakhs for the period ending on 30 Nov 2023. The company’s revenue increased by 12.14% and PAT increased by 12.63% between the FY ending on March 31, 2023 and March 31, 2022.
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