Italian Edibles IPO will open for subscription from 02 February 2024. The company aims for an issue size of ₹26.66 Cr through this IPO.
Company Overview
| Full name | Italian Edibles Limited |
| Sector | Trading |
| Industry | Trading |
| Company Website | https://www.ofcoursegroup.com/ |
About Company
Established in 2009, Italian Edibles delights under the brand ‘OfCourse’. The company offers a wide range of confectionery such as Rabdi [Meethai Sweet], Milk Paste, Chocolate Paste, Lollipops, Candies, Jelly Candies, Multi-Grain Puff Rolls, Fruit Based Products to the customers. Italian Edibles span the entirety of India, notably gracing rural and semi-urban landscapes in Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, and West Bengal. The company also exports its products to various countries such as Nigeria, Yemen, Sinegal, and Sudan.
As of 31 August 2023, the company’s top clients include Chocolate World, Yuvraj Agency, Bakewell Biscuits Private Limited, R. K. Prabhavati Traders, Mamta Stores, Ma Laxmi Traders, Suria Distributor, and more. Notably, its Jelly Candies are exclusively supplied to Dharpal Premchand Ltd (BABA) group. As of 31 August 2023, Italian Edibles collaborates with around 450 suppliers and distributors spanning 22 states in India. The company efficiently exports its products through a network of five merchant exporters. The company has a dedicated sales and marketing team consisting of 15 employees.
The Objectives of the Issue
- Setting up of the proposed manufacturing unit;
- Repayment of certain Borrowings;
- To meet incremental working capital requirements; and
- General Corporate Expenses.
Italian Edibles IPO Timetable
| IPO Opening date | 02 February 2024 |
| IPO Closing | 07 February 2024 |
| Basis of Allotment | 08 February 2024 |
| Initiation Refund | 09 February 2024 |
| Credit to Demat Account | 09 February 2024 |
| Listing Date | 12 February 2024 |
Italian Edibles IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹26.66 Cr – 3,920,000 shares |
| Fresh Issue | ₹26.66 Cr – 3,920,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹68 per share |
| Lot size | 2000 Shares |
| Market Maker portion | 200,000 shares |
| Shareholding pre-issue | 10,857,151 |
| Shareholding post-issue | 14,777,151 |
| Listing Exchange | NSE SME |
Italian Edibles IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹136,000 |
| Retail (Max) | 1 | 2000 | ₹136,000 |
| HNI (Min) | 2 | 4,000 | ₹272,000 |
Italian Edibles IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 200,000 (5.10%) |
| Other Shares Offered | 1,860,000 (47.45%) |
| Retail Shares Offered | 1,860,000 (47.45%) |
| Total Shares Offered | 3,920,000 (100%) |
Italian Edibles Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 5M FY 2024 | |
| Revenue | 48.90 | 75.41 | 63.21 | 30.52 |
| Expenses | 47.87 | 74.07 | 59.93 | 27.70 |
| Net income | 0.87 | 0.80 | 2.64 | 2.10 |
Italian Edibles Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.81 | 0.75 | 2.43 |
| PE ratio | – | – | 27.98 |
| RONW (%) | 14.82 | 9.85 | 24.50 |
| NAV | 38.92 | 47.49 | 62.90 |
| EBITDA (%) | 7.34 | 5.79 | 10.91 |
| ROCE (%) | 9.17 | 12.16 | 19.32 |
| Debt/Equity | 4.27 | 2.23 | 1.60 |
Company Promoters
- Mr. Ajay Makhija
- Mr. Akshay Makhija
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.47% |
Italian Edibles IPO Lead Manager(s)
FIRST OVERSEAS CAPITAL LIMITED
1-2 Bhupen Chambers, Dalal Street, Fountain,
Mumbai – 400 001, Maharashtra, India
Phone: +91 22 4050 9999
Email: mb@focl.in
Website: www.focl.in
Italian Edibles Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Italian Edibles Contact Details
ITALIAN EDIBLES LIMITED
309/1/1/8 Block No.03, Mangal Udhyog Nagar,
Gram Palda, Indore-452020, Madhya Pradesh, India
Phone: +91 9826298268
E-mail: italian_edibles@yahoo.com
Website: www.ofcoursegroup.com
Italian Edibles IPO Allotment Status
Italian Edibles IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Italian Edibles IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
