Proventus Agrocom IPO

Proventus Agrocom IPO will open for subscription from 24 May 2023. the company aims for an issue size of ₹69.54 Cr through this IPO.

Company Overview

Full nameProventus Agrocom Limited
SectorFast-Moving Consumer Goods
IndustryConsumer Food
Company Website

About Company

Incorporated in 2015, Proventus Agrocom is an integrated health food brand with its presence in the entire range of dry fruits, nuts, seeds, berries, and healthy snacking products across the value chain. The motto of Proventus is to create expertise in healthy food products and build the revenue stream by moving across the value chain from origination to distribution and creating an integrated business model – from ‘farm to homes’.

The company is attempting to fill the vacuum in the healthy snacking range in the Indian market, especially in the dry fruits, nuts, seeds, and berries category. The products of the company are marketed under the brand – ‘ProV’. In the last three years, the company has developed direct relationships with 45+ growers and/or suppliers across the globe including California, Chile, and Afghanistan.

The product range of Proventus Agrocom includes Nuts, Dry Fruits, Seeds, and Berries like:

  • Almonds
  • Pistachios
  • Cashews
  • Walnuts
  • Raisins
  • Trail Mix

The Objective of the Issue

  • Funding working capital requirements of the Company;
  • Funding working capital requirements of the material subsidiary namely, Prov Foods Private Limited;
  • General Corporate Purposes.

IPO Timetable

IPO Opening date24 May 2023
IPO Closing26 May 2023
Basis of Allotment31 May 2023
Initiation Refund01 June 2023
Credit to Demat Account02 June 2023
Listing Date05 June 2023

IPO details

Issue typeFixed Price Issue IPO
IPO issue size₹69.54 Cr – 902,000 shares
Fresh Issue₹51.80 Cr – 671,853 shares
Offer for sale₹17.74 Cr – 230,147 shares
Face value₹10 per share
Offer price₹771 per share
Lot size160 Shares
Retail Allocation50%
Listing ExchangeNSE SME

IPO Lot Size

Retail (Min)1160₹123,360
Retail (Max)1160₹123,360
HNI (Min)2320₹246,720

Reservation Details

Market makers portion45,100 shares
Other Shares Offered50%
Retail Shares Offered50%

Financial Performance

 FY 2020FY 2021FY 20229M FY 2023
Net income(21.90)1.881.141.90
(Amount in ₹ Crores)

Valuations & Margins

FY 2020FY 2021FY 2022
PE ratio186.23
RONW (%)(38.68)3.221.91
ROCE (%)(0.26)0.040.04
EBITDA (%)(2.42)1.030.87

Company Promoters

  •  Durga Prasad Jhawar
  • Deepak Kumar Agrawal
  • Shalin Sanjiv Khanna
  • Shree JMD Investment Advisors LLP

Promoter Holding

Pre Issue Share Holding2,755,768
Post Issue Share Holding3,427,621

Lead Manager(s)

Level 11, Platina, Plot No C – 59, ‘G’ Block,
Bandra Kurla Complex Bandra (East), Mumbai – 400 051
+91 22 6884 1336

IPO Registrar

S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093
Phone: +91 22 6263 8200

Contact Details

Unit 515, 5th Floor, C Wing, 1 MTR Cabin,
Atrium, Village Mulgaon, MV Road,
Andheri (East), Near Acme Plaza, Mumbai – 400 069
Phone: +91 22 6211 0900

Allotment Status

Proventus Agrocom IPO allotment status will be available on Bigshare Services’ website. Click on Bigshare Services weblink to get allotment status.

Final thoughts

Proventus Agrocom IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do 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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