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 name | Proventus Agrocom Limited |
| Sector | Fast-Moving Consumer Goods |
| Industry | Consumer Food |
| Company Website | https://www.proventusagro.com/ |
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 date | 24 May 2023 |
| IPO Closing | 26 May 2023 |
| Basis of Allotment | 31 May 2023 |
| Initiation Refund | 01 June 2023 |
| Credit to Demat Account | 02 June 2023 |
| Listing Date | 05 June 2023 |
IPO details
| Issue type | Fixed 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 size | 160 Shares |
| Retail Allocation | 50% |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 160 | ₹123,360 |
| Retail (Max) | 1 | 160 | ₹123,360 |
| HNI (Min) | 2 | 320 | ₹246,720 |
Reservation Details
| Market makers portion | 45,100 shares |
| Other Shares Offered | 50% |
| Retail Shares Offered | 50% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | 9M FY 2023 | |
| Revenue | 896.20 | 300.88 | 403.27 | 371.98 |
| Expenses | 929.49 | 299.26 | 402.78 | 316.72 |
| Net income | (21.90) | 1.88 | 1.14 | 1.90 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | (79.49) | 6.82 | 4.14 |
| PE ratio | – | – | 186.23 |
| RONW (%) | (38.68) | 3.22 | 1.91 |
| NAV | 205.52 | 212.08 | 216.52 |
| ROCE (%) | (0.26) | 0.04 | 0.04 |
| EBITDA (%) | (2.42) | 1.03 | 0.87 |
| Debt/Equity | 0.35 | 0.57 | 0.65 |
Company Promoters
- Durga Prasad Jhawar
- Deepak Kumar Agrawal
- Shalin Sanjiv Khanna
- Shree JMD Investment Advisors LLP
Promoter Holding
| Pre Issue Share Holding | 2,755,768 |
| Post Issue Share Holding | 3,427,621 |
Lead Manager(s)
SUNDAE CAPITAL ADVISORS PRIVATE LIMITED
Level 11, Platina, Plot No C – 59, ‘G’ Block,
Bandra Kurla Complex Bandra (East), Mumbai – 400 051
Phone: +91 22 6884 1336
Email: prov.ipo@sundaecapital.com
Website: www.sundaecapital.com
IPO 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
Contact Details
PROVENTUS AGROCOM LIMITED
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
E-mail: cs@proventusagro.com
Website: www.proventusagro.com
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
