M.V.K. AGRO FOOD PRODUCT LIMITED

29 Feb 2024 - 04 Mar 2024 Individual Category SME IPO NSE

Min Investment

₹288000

Price Band

₹120

Issue Size

54.9 lakhs
Equity Shares

Lot Size

1200 (per lot)

IPO Dates
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29 Feb 2024

Open Date

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04 Mar 2024

Close Date

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05 Mar 2024

Allotment Date

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07 Mar 2024

Listing Date

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.

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About M.v.k. Agro Food Product Limited

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.

Founded

2018

Managing Director

Parent Organization

IPO Objectives

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.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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