Bookbuilding IPO | ₹75 Cr | Listed at NSE SME | Thu, Oct 17, 2024 - Mon, Oct 21, 2024
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 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,39,200 (1200 shares) (based on upper price). The minimum lot size for investment in 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 Open
Thu, Oct 17, 2024
IPO Close
Mon, Oct 21, 2024
Issue Price
₹116 per share
Market Cap (Pre-IPO)
₹272.59 Cr
| IPO Date | 17 to 21 Oct, 2024 |
| Listed on | Thu, Oct 24, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹110 to ₹116 |
| Issue Price | ₹116 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 64,99,200 shares (agg. up to ₹75 Cr) |
| Reserved for Market Maker | 6,19,200 shares Giriraj Stock Broking Pvt.Ltd. (agg. up to ₹7 Cr) |
| Fresh Issue (Ex Market Maker) | 58,80,000 shares (agg. up to ₹68 Cr) |
| Net Offered to Public | 58,80,000 shares (agg. up to ₹68 Cr) |
| Share Holding Pre Issue | 1,70,00,000 shares |
| Share Holding Post Issue | 2,34,99,200 shares |
| NSE Symbol | FRESHARA |
| ISIN | INE0SFW01015 |
Freshara Agro Exports IPO comprises a total issue size of 64,99,200 shares. The net offer to the public is 58,80,000 shares, after excluding 6,19,200 shares allotted on a firm basis. Of the Net offer 29,37,600 (49.96%) are allocated to QIB, 8,83,200 (15.02%) allocated to NII 20,59,200 (35.02%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 29,37,600 | 49.96% | 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 | 15.02% | 13.59% |
| Retail Shares Offered | 20,59,200 | 35.02% | 31.68% |
| Firm Reservations | |||
| Market Maker Shares Offered | 6,19,200 | 9.53% | |
| Total Shares Offered | 64,99,200 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| 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 |
Freshara Agro Exports IPO raises ₹20.43 crore from anchor investors. Freshara Agro Exports IPO Anchor bid date is October 16, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Oct 16, 2024 |
| Shares Offered | 17,61,600 |
| Anchor Portion (₹ Cr.) | 20.43 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Nov 21, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Jan 20, 2025 |
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.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 166.00 | 166.58 | 84.91 | 58.88 |
| Total Income | 107.46 | 198.20 | 127.00 | 118.41 |
| Profit After Tax | 11.38 | 21.82 | 9.08 | 0.97 |
| NET Worth | 38.35 | 26.97 | 18.55 | 9.32 |
| Reserves and Surplus | 21.35 | 9.97 | ||
| Total Borrowing | 106.25 | 107.56 | 41.74 | 34.79 |
| 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 out the Capital Expenditure | 8.80 |
| 2 | Funding the working capital requirements of the company; | 56.00 |
| 3 | To meet out the General Corporate Purposes; and | 7.59 |
| KPI | Sep 30, 2024 |
|---|---|
| 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 (₹) | 12.84 | 9.68 |
| P/E (x) | 9.04 | 11.98 |
| Promoter Holding | 86.5% | 62.58% |
| Market Cap | ₹272.59 Cr. |
The Freshara Agro Exports IPO is subscribed 236.8 times on October 21, 2024 6:19:59 PM (Day 3). The public issue subscribed 180.8 times in the retail category, 129.22 times in the QIB category, and 510.61 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 129.22 | 11,76,000 | 15,19,64,400 |
| NII* | 510.61 | 8,83,200 | 45,09,69,600 |
| Retail | 180.8 | 20,59,200 | 37,23,10,800 |
| Total | 236.8 | 41,18,400 | 97,52,44,800 |
Total Application : 3,10,259
*Market Maker portion is not included to NII/HNI.
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.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including Merchant Banking fees, Underwriting fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 0.75 |
| 2 | Advertising and Marketing Expenses | 1.75 |
| 3 | Fees payable to the stock exchange(s) | 0.05 |
| 4 | Printing & Stationery, Distribution, Postage, etc | 0.05 |
| 5 | Brokerage and Selling Commission | 0.15 |
| 6 | Other Expenses (Banker’s to the Issue, Auditor’s Fees etc.) | 0.25 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹116.00 |
| Open | ₹135.00 |
| Low | ₹128.25 |
| High | ₹141.00 |
| Last Trade | ₹134.70 |
Purva Sharegistry (India) Pvt.Ltd.
Lead Manager Reports
Freshara Agro Exports IPO is a SME IPO of 64,99,200 equity shares of the face value of ₹10 aggregating up to ₹75 Crores. The issue is priced at ₹116 per share. The minimum order quantity is 1200.
The IPO opens on Thu, Oct 17, 2024, and closes on Mon, Oct 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 Thu, Oct 17, 2024 and closes on Mon, Oct 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 Wed, Oct 23, 2024. Check the Freshara Agro Exports IPO allotment status.
The Freshara Agro Exports IPO listing date is on Thu, Oct 24, 2024.
