City Crops Agro IPO will open for subscription from 26 September 2023. The company aims for an issue size of ₹15 Cr through this IPO.
Company Overview
| Full name | City Crops Agro Limited |
| Sector | Trading |
| Industry | Agricultural Products |
| Company Website | https://citycropagro.in/ |
About Company
Incorporated in 2013, City Crops Agro is engaged in the business of trading products like seeds, and agricultural products mainly Rice, Wheat, Onions, Potato, Tomato, Isabgol, and Pulses. It has an integrated platform that includes products such as cereals, oil seeds, pulses, and vegetables. The company is also engaged in contract manufacturing for agricultural produce such as Cucumber, Onion, and Castor.
The company sources the agricultural products from the manufacturers through advance payment with labeling and then these products are sold to the network of distributors. In contract manufacturing, the company leases agricultural land and cultivates Cucumber, Onion, and Castor to meet the demand in the market. The company currently has around 47.31 acres of land for agricultural production.
The top-10 customers contribute to the majority of its sales constituting about 83.24% in FY 23, which saw a decrease from the FY 22 figures which stood at 92.05%. The company sourced the entire agricultural produce from the top 5 suppliers in FY 23 as compared to 97.41% being sourced in FY 22.
The Objectives of the Issue
- To meet the working capital requirements of the company.
- General Corporate Purposes.
- To meet the Issue Expenses.
City Crops Agro IPO Timetable
| IPO Opening date | 26 September 2023 |
| IPO Closing | 29 September 2023 |
| Basis of Allotment | 05 October 2023 |
| Initiation Refund | 06 October 2023 |
| Credit to Demat Account | 09 October 2023 |
| Listing Date | 10 October 2023 |
City Crops Agro IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹15 Cr – 6,000,000 shares |
| Fresh Issue | ₹15 Cr – 6,000,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹25 per share |
| Lot size | 6000 Shares |
| Market Maker portion | 300,000 shares |
| Shareholding pre-issue | 10,316,760 |
| Shareholding post-issue | 16,316,760 |
| Listing Exchange | BSE SME |
City Crops Agro IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6000 | ₹150,000 |
| Retail (Max) | 1 | 6000 | ₹150,000 |
| HNI (Min) | 2 | 12,000 | ₹300,000 |
City Crops Agro IPO Reservation Details
| Other Shares Offered | 50% |
| Retail Shares Offered | 50% |
City Crops Agro Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 3.49 | 17.75 | 24.61 |
| Expenses | 3.45 | 17.20 | 23.26 |
| Net income | 0.04 | 0.48 | 1.17 |
City Crops Agro Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 43.16 | 0.75 | 1.13 |
| PE ratio | – | – | 22.12 |
| RONW (%) | 84.89 | 4.49 | 9.80 |
| NAV | – | 10.44 | 11.58 |
| EBITDA (%) | 1.20 | 3.12 | 5.53 |
City Crops Agro Company Promoters
- Mr. Kaupilkumar Hasmukhbhai Shah
- Mrs. Shitalben Kaupilkumar Shah
City Crops Agro Promoter Holding
| Pre Issue Share Holding | 86.51% |
| Post Issue Share Holding | 54.70% |
City Crops Agro IPO Lead Manager(s)
TURNAROUND CORPORATE ADVISORS PRIVATE LIMITED
714, Vishwadeep Building, Plot No. 4,
District Centre, Janak Puri, New Delhi – 110058
Phone: +91 -11-45510390, +91-11-41395590
Email: info@tcagroup.in
Website: www.tcagroup.in
City Crops Agro Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
A/506, Dattani Plaza, Andheri Kurla Road,
Safeed Pool, Andheri East, Mumbai – 400 072, Maharashtra
Phone: +91 22 2851 1022
Email: ipo@skylinerta.com
Website: www.skylinerta.com
City Crops Agro Contact Details
CITY CROPS AGRO LIMITED
5th floor -513, Spg Echelon,
Nr. Indraprasth Flats, Makarba, Ahmedabad-380053
Phone: +91 9428714136
E-mail: cs@citycropagro.in
Website: www.citycropagro.in
City Crops Agro Allotment Status
City Crops Agro IPO allotment status will be available on Skyline Financial Services’ website. Click on this link to get allotment status.
Final thoughts
City Crops Agro 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
