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Freshara Agro Exports IPO is a book build issue of ₹75.39 crores. The issue is entirely a fresh issue of 0.65 crore shares of ₹75.39 crore.
Freshara Agro Exports IPO bidding started from Oct 17, 2024 and ended on Oct 21, 2024. The allotment for Freshara Agro Exports IPO was finalized on Oct 22, 2024. The shares got listed on NSE SME on Oct 24, 2024.
Freshara Agro Exports IPO price band is set at ₹116.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,32,000 (1200 shares). The minimum lot size investment for HNI is 2 lots (2,400 shares), amounting to ₹2,78,400.
GYR Capital Advisors Pvt.Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue. The market maker of the company is Giriraj Stock Broking Pvt.Ltd..
Refer to Freshara Agro Exports IPO RHP for detailed Information.
| IPO Date | October 17, 2024 to October 21, 2024 |
| Listing Date | October 24, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹110 to ₹116 per share |
| Issue Price Final | ₹116 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 64,99,200 shares (aggregating up to ₹75.39 Cr) |
| Reserved for Market Maker | 6,19,200 shares Giriraj Stock Broking Pvt.Ltd. (aggregating up to ₹7.18 Cr) |
| Net Offered to Public | 58,80,000 shares (aggregating up to ₹68.21 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,70,00,000 shares |
| Share Holding Post Issue | 2,34,99,200 shares |
Freshara Agro Exports IPO offers total 64,99,200 shares. Out of which 29,37,600 (45.20%) allocated to QIB, 11,76,000 (18.09%) allocated to QIB, 8,83,200 (13.59%) allocated to NII, 20,59,200 (31.68%) allocated to RII and 17,61,600 (27.10%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 6,19,200 (9.53%) |
| QIB Shares Offered | 29,37,600 (45.20%) |
| − Anchor Investor Shares Offered | 17,61,600 (27.10%) |
| − QIB (Ex. Anchor) Shares Offered | 11,76,000 (18.09%) |
| NII (HNI) Shares Offered | 8,83,200 (13.59%) |
| Retail Shares Offered | 20,59,200 (31.68%) |
| Total Shares Offered | 64,99,200 (100.00%) |
Freshara Agro Exports IPO raises ₹20.43 crore from anchor investors. Freshara Agro Exports IPO Anchor bid date is October 16, 2024. Freshara Agro Exports IPO Anchor Investors list
| Bid Date | October 16, 2024 |
| Shares Offered | 17,61,600 |
| Anchor Portion Size (In Cr.) | 20.43 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 21, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 20, 2025 |
Freshara Agro Exports IPO opens on October 17, 2024, and closes on October 21, 2024.
| IPO Open Date | Thu, Oct 17, 2024 |
| IPO Close Date | Mon, Oct 21, 2024 |
| Tentative Allotment | Tue, Oct 22, 2024 |
| Initiation of Refunds | Wed, Oct 23, 2024 |
| Credit of Shares to Demat | Wed, Oct 23, 2024 |
| Tentative Listing Date | Thu, Oct 24, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Oct 21, 2024 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,39,200 |
| Retail (Max) | 1 | 1,200 | ₹1,39,200 |
| HNI (Min) | 2 | 2,400 | ₹2,78,400 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Freshara Agro Exports Limited, formerly known as Freshara Picklz Exports, was established in 2015 and procures, processes and exports preserved Gherkins and other pickled goods from India to various countries across the world.
Under a contract farming program, the company exports raw produce from local farmers in Tamil Nadu, Karnataka, and some parts of Andhra Pradesh. 70% of the produce is "not ready-to-eat" and is supplied directly to factories for further processing and conversion into finished products. The remaining 30% is supplied to food brokers and traders in the international market. The company's products include gherkins, baby corn, jalapenos, and other pickled vegetables.
As of March 31, 2024, the company processes and exports pickled vegetables in 3 different packaging categories. The details of the 3 packaging categories: 1) Industrial packaging in food grade drums and pails; 2) Food packaging in plastic buckets and tin cans; and 3) Retail packaging in glass jars and tin cans.
The company is accredited by a number of leading organizations, including the Food Safety and Standards Authority of India (FSSAI), the United States Food & Drug Administration (FDA), Star-K Kosher, Agricultural and Processed Food Products Export Development Authority (APEDA), International Featured Standards, Brand Reputation through Compliance Global Standard (BRCGS).
Competitive strengths:
As of September 30, 2024, the company had a total of 135 employees.
Freshara Agro Exports Limited's revenue increased by 56% and profit after tax (PAT) rose by 140% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 16,599.73 | 16,657.8 | 8,490.64 | 5,887.64 |
| Total Income | 10,746.11 | 19,819.58 | 12,700.22 | 11,840.68 |
| Profit After Tax | 1,137.81 | 2,182.41 | 908.2 | 97.36 |
| Net Worth | 3,834.58 | 2,696.77 | 1,855.49 | 931.58 |
| Reserves and Surplus | 2,134.58 | 996.77 | ||
| Total Borrowing | 10,625.22 | 10,755.98 | 4,173.89 | 3,479.1 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Freshara Agro Exports IPO is ₹272.59 Cr.
KPI as of Mon, Sep 30, 2024.
| KPI | Values |
|---|---|
| ROCE | 12.31% |
| Debt/Equity | 2.77 |
| RoNW | 29.67% |
| PAT Margin | 10.98% |
| Price to Book Value | 7.31 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 12.84 | 9.68 |
| P/E (x) | 9.04 | 11.98 |
The Company proposes to utilize the funds which are being raised towards funding the following objects:
[Dilip Davda] The company is 100% EOU for agro products that are mainly used for pickles in global markets. It specialized in Gherkin and other pickled vegetables. The sudden boost in margins from FY23 onwards raises eyebrows. Its debt equity ratio of 2.77 as of September 30, 2024 remains major concern. Well-informed investors may park moderate funds for medium to long term. Read detail review...
Please note: The financial data for March 31, 2024, is taken from the "For the period January 24 to March 31, 2024" column in the RHP.
| Listing Date | October 24, 2024 |
| BSE Script Code | |
| NSE Symbol | FRESHARA |
| ISIN | INE0SFW01015 |
| Final Issue Price | ₹116 per share |
| NSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹116.00 |
| Open | ₹135.00 |
| Low | ₹128.25 |
| High | ₹141.00 |
| Last Trade | ₹134.70 |
Freshara Agro Exports Ltd.
Old No.3, New No.9,
Puram Prakasam Road, Balaji Nagar,
Royapettah,
Chennai, Tamil Nadu, 600014
Phone: +91 44 4357 0138
Email: cs@fresharaagroexports.com
Website: https://fresharaagroexports.com/
Purva Sharegistry (India) Pvt.Ltd.
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query
Freshara Agro Exports IPO is a SME IPO of 64,99,200 equity shares of the face value of ₹10 aggregating up to ₹75.39 Crores. The issue is priced at ₹116 per share. The minimum order quantity is 1200.
The IPO opens on October 17, 2024, and closes on October 21, 2024.
Purva Sharegistry (India) Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Freshara Agro Exports IPO using UPI as a payment gateway. Zerodha customers can apply in Freshara Agro Exports IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Freshara Agro Exports IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Freshara Agro Exports IPO opens on October 17, 2024 and closes on October 21, 2024.
Freshara Agro Exports IPO lot size is 1200, and the minimum amount required for application is ₹1,39,200.
You can apply in Freshara Agro Exports 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 Freshara Agro Exports IPO will be done on Tuesday, October 22, 2024, and the allotted shares will be credited to your demat account by Wednesday, October 23, 2024. Check the Freshara Agro Exports IPO allotment status.
The Freshara Agro Exports IPO listing date is on Thursday, October 24, 2024.
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