Fixed Price IPO | ₹15 Cr | Listed at BSE SME | Tue, Sep 26, 2023 - Fri, Sep 29, 2023
City Crops Agro IPO is a fixed price issue of ₹15.00 crores. The issue is entirely a fresh issue of 0.60 crore shares of ₹15.00 crore.
City Crops Agro IPO bidding started from Sep 26, 2023 and ended on Sep 29, 2023. The allotment for City Crops Agro IPO was finalized on Oct 5, 2023. The shares got listed on BSE SME on Oct 10, 2023.
City Crops Agro IPO price is ₹25 per share. The lot size for an application is 6,000. The minimum amount of investment required by an individual investor (retail) is ₹1,50,000 (6000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (12,000 shares), amounting to ₹3,00,000.
Turnaround Corporate Advisors Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Mnm Stock Broking Pvt.Ltd..
Refer to City Crops Agro IPO RHP for detailed Information.
IPO Open
Tue, Sep 26, 2023
IPO Close
Fri, Sep 29, 2023
Issue Price
₹25 per share
Market Cap (Pre-IPO)
₹40.79 Cr
| IPO Date | 26 to 29 Sep, 2023 |
| Listed on | Tue, Oct 10, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹25 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 60,00,000 shares (agg. up to ₹15 Cr) |
| Reserved for Market Maker | 3,00,000 shares Mnm Stock Broking Pvt.Ltd. (agg. up to ₹0.7500 Cr) |
| Fresh Issue (Ex Market Maker) | 57,00,000 shares (agg. up to ₹14 Cr) |
| Net Offered to Public | 57,00,000 shares (agg. up to ₹14 Cr) |
| Share Holding Pre Issue | 1,03,16,760 shares |
| Share Holding Post Issue | 1,63,16,760 shares |
| BSE Script Code | 544000 |
| ISIN | INE0M7501019 |
City Crops Agro IPO comprises a total issue size of 60,00,000 shares. The net offer to the public is 57,00,000 shares, after excluding 3,00,000 shares allotted on a firm basis. Of the Net offer 28,50,000 (50.00%) allocated to NII 28,50,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 28,50,000 | 50.00% | 47.50% |
| Retail Shares Offered | 28,50,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,00,000 | 5.00% | |
| Total Shares Offered | 60,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 6,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6,000 | ₹1,50,000 |
| Retail (Max) | 1 | 6,000 | ₹1,50,000 |
| HNI (Min) | 2 | 12,000 | ₹3,00,000 |
Incorporated in 2013, City Crops Agro Limited, previously known as Bhagya Agro-Care Private Limited, is engaged in the business of trading products like seeds, agricultural produces mainly Rice, Wheat, Onions, Potato, Tomato, Isabgol, and Pulses.
The company sources the agricultural products from the manufacturers by paying an advance payment with its labeling and then these products are sold to its network of distributors. In contract manufacturing, the company leases agricultural land on lease 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.
City Crops Agro is located in Ahmedabad, Gujarat, and employes over 8 employees.
City Crops Agro recorded Rs. 1774.88 Lacs and Rs. 348.90 Lacs in revenue from operations in fiscal 2022 and 2021 respectively.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 14.03 | 12.99 | 2.47 |
| Total Income | 24.62 | 17.76 | 3.49 |
| Profit After Tax | 1.17 | 0.48 | 0.04 |
| NET Worth | 11.94 | 10.77 | 0.05 |
| Reserves and Surplus | 1.63 | 0.45 | 0.04 |
| Total Borrowing | 0.02 | 0.05 | 0.01 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet the working capital requirements of the company | 11.25 |
| 2 | General Corporate Purposes | 3.45 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 1.13 | |
| P/E (x) | 22.03 | 34.72 |
| Promoter Holding | 86.51% | 54.70% |
| Market Cap | ₹40.79 Cr. |
The City Crops Agro IPO is subscribed 3.47 times on September 29, 2023 7:02:00 PM (Day 4). The public issue subscribed 4.78 times in the retail category, [.] times in the QIB category, and 2.15 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.15 | 28,50,000 | 61,38,000 |
| Retail | 4.78 | 28,50,000 | 1,36,14,000 |
| Total | 3.47 | 57,00,000 | 1,97,64,000 |
Total Application : 1,984
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees paid to depositories | 0.03 |
| 2 | Consultancy and Charges for IPO | 0.16 |
| 3 | Legal Charges for IPO | 0.00 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹25.00 |
| Open | ₹25.50 |
| Low | ₹24.90 |
| High | ₹26.00 |
| Last Trade | ₹25.42 |
Lead Manager Reports
City Crops Agro IPO is a SME IPO of 60,00,000 equity shares of the face value of ₹10 aggregating up to ₹15 Crores. The issue is priced at ₹25 per share. The minimum order quantity is 6000.
The IPO opens on Tue, Sep 26, 2023, and closes on Fri, Sep 29, 2023.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in City Crops Agro IPO using UPI as a payment gateway. Zerodha customers can apply in City Crops Agro IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in City Crops Agro IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The City Crops Agro IPO opens on Tue, Sep 26, 2023 and closes on Fri, Sep 29, 2023.
City Crops Agro IPO lot size is 6000, and the minimum amount required for application is ₹1,50,000.
You can apply in City Crops Agro IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for City Crops Agro IPO will be done on Thursday, October 5, 2023, and the allotted shares will be credited to your demat account by Mon, Oct 9, 2023. Check the City Crops Agro IPO allotment status.
The City Crops Agro IPO listing date is on Tue, Oct 10, 2023.
