City Crops Agro IPO

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 nameCity Crops Agro Limited
SectorTrading
IndustryAgricultural Products
Company Websitehttps://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 date26 September 2023
IPO Closing29 September 2023
Basis of Allotment05 October 2023
Initiation Refund06 October 2023
Credit to Demat Account09 October 2023
Listing Date10 October 2023
(Cut-off time for UPI mandate confirmation – 5 PM on September 29, 2023)

City Crops Agro IPO details

Issue typeFixed Price Issue IPO
IPO issue size₹15 Cr – 6,000,000 shares
Fresh Issue₹15 Cr – 6,000,000 shares
Offer for saleNil
Face value₹10 per share
Offer Price₹25 per share
Lot size6000 Shares
Market Maker portion300,000 shares
Shareholding pre-issue10,316,760
Shareholding post-issue16,316,760
Listing ExchangeBSE SME

City Crops Agro IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)16000₹150,000
Retail (Max)16000₹150,000
HNI (Min)212,000₹300,000

City Crops Agro IPO Reservation Details

Other Shares Offered50%
Retail Shares Offered50%

City Crops Agro Financial Performance

 FY 2021FY 2022FY 2023
Revenue3.4917.7524.61
Expenses3.4517.2023.26
Net income0.040.481.17
(Amount in ₹ Crores)

City Crops Agro Valuations & Margins

FY 2021FY 2022FY 2023
EPS43.160.751.13
PE ratio22.12
RONW (%)84.894.499.80
NAV10.4411.58
EBITDA (%)1.203.125.53

City Crops Agro Company Promoters

  • Mr. Kaupilkumar Hasmukhbhai Shah
  • Mrs. Shitalben Kaupilkumar Shah

City Crops Agro Promoter Holding

Pre Issue Share Holding86.51%
Post Issue Share Holding54.70%

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

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