M V K Agro Food IPO

M V K Agro Food IPO will open for subscription from 29 February 2024. The company aims for an issue size of ₹65.88 Cr through this IPO.

Company Overview

Full nameM.V.K. Agro Food Limited
Company Websitehttps://mvkagrofood.com/

About Company

MVK Agro Food is a prominent player in the integrated sugar and allied products manufacturing industry, situated in Nanded District, Maharashtra. Operating a single-location sugar unit with a licensed crushing capacity of 2,500 TCD (Tones Cane per day), the company boasts significant production capabilities. Alongside sugar, MVK Agro Food commercializes valuable by-products and waste products like Molasses (120 Tons per day), Bagasse (750 Tons per day), and Pressmud (90 Tons per day). The company has 161 employees and does not use any contract labor. The company also purchases all its required sugarcane directly from farmers.

In Fiscal 2023, the company achieved noteworthy revenues, with sugar sales through domestic brokers amounting to INR 27.5 crore and through export-oriented commodity traders at INR 26.6 crore. By-products such as Bagasse, Cane Seed & others, Molasses, and Pressmud contributed substantially to the revenue stream. MVK Agro Food plans to invest INR 34.9 crore in setting up a unit for ethanol and bio-CNG production, and INR 17.5 crore in fertilizer production.

The Objectives of the Issue

  • Setting up a greenfield unit in Nanded, Maharashtra for (i) manufacturing Ethanol and (ii) generation and bottling of Bio-CNG and Fertilizer.
  • General corporate purposes.

M V K Agro Food IPO Timetable

IPO Opening date29 February 2024
IPO Closing04 March 2024
Basis of Allotment05 March 2024
Initiation Refund06 March 2024
Credit to Demat Account06 March 2024
Listing Date07 March 2024
(Cut-off time for UPI mandate confirmation – 5 PM on March 4, 2024)

M V K Agro Food IPO details

Issue typeFixed Price Issue IPO
IPO issue size₹65.88 Cr – 5,490,000 shares
Fresh Issue₹65.88 Cr – 5,490,000 shares
Offer for saleNil
Face value₹10 per share
Offer Price₹120 per share
Lot size1200 Shares
Market Maker portion274,800 shares
Shareholding pre-issue10,000,000
Shareholding post-issue15,490,000
Listing ExchangeNSE SME

M V K Agro Food IPO Lot Size

Retail (Min)11200₹144,000
Retail (Max)11200₹144,000
HNI (Min)22,400₹288,000

M V K Agro Food IPO Reservation Details

Retail Shares Offered50%
Other Shares Offered50%

M.V.K. Agro Food’s Financial Performance

 FY 2021FY 2022FY 2023H1 FY 2024
Net income1.403.203.774.30
(Amount in ₹ Crores)

M.V.K. Agro Food’s Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio15.90
RONW (%)35.4839.9632.85
ROCE (%)5.9814.4913.44
EBITDA (%)20.669.0617.68

Company Promoters

  • Marotrao Vyankatrao Kawale
  • Sagarbai Marotrao Kawale
  • Ganeshrao Vyankatrao Kawale
  • Kishanrao Vyankatarao Kawale
  • Sandip Marotrao Kawale

Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding64.56%

M.V.K. Agro Food IPO Lead Manager(s)

19 R N Mukherjee Road, Main Building, 2nd Floor,
Kolkata- 700 001, West Bengal, India
Phone: +91 33 4600 0607
Email: smeipo@horizon.net.co
Website: www.horizonmanagement.in

M.V.K. Agro Food Registrar

T-34, 2nd Floor, Okhla Industrial Area,
Phase-II New Delhi- 110 020
Phone: +91 112 638 7281/83
Email: ipo@masserv.com
Website: www.masserv.com

M.V.K. Agro Food Contact Details

GUT No. 44 and 46, Kusumnagar,
At Post Waghalwada, Umari,
Nanded – 431 807, Maharashtra
Phone: +91 862 309 4480
E-mail: info@mvkagrofood.com
Website: www.mvkagrofood.com

M.V.K. Agro Food IPO Allotment Status

MVK Agro Food IPO allotment status will be available on Mas Services’ website. Click on Mas Services IPO weblink to get allotment status.

Final thoughts

M.V.K. Agro Food 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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