Fixed Price IPO | ₹66 Cr | Listed at NSE SME | Thu, Feb 29, 2024 - Mon, Mar 4, 2024
M.V.K.Agro Food Product IPO is a fixed price issue of ₹65.88 crores. The issue is entirely a fresh issue of 0.55 crore shares of ₹65.88 crore.
M.V.K.Agro Food Product IPO bidding started from Feb 29, 2024 and ended on Mar 4, 2024. The allotment for M.V.K.Agro Food Product IPO was finalized on Mar 5, 2024. The shares got listed on NSE SME on Mar 7, 2024.
M.V.K.Agro Food Product IPO price is ₹120 per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹1,44,000 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,88,000.
Horizon Management Pvt.Ltd. is the book running lead manager and MAS Services Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to M.V.K.Agro Food Product IPO RHP for detailed Information.
IPO Open
Thu, Feb 29, 2024
IPO Close
Mon, Mar 4, 2024
Issue Price
₹120 per share
Market Cap (Pre-IPO)
₹185.88 Cr
| IPO Date | 29 Feb to 4 Mar, 2024 |
| Listed on | Thu, Mar 7, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹120 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 54,90,000 shares (agg. up to ₹66 Cr) |
| Reserved for Market Maker | 2,74,800 shares Nikunj Stock Brokers Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 52,15,200 shares (agg. up to ₹63 Cr) |
| Net Offered to Public | 52,15,200 shares (agg. up to ₹63 Cr) |
| Share Holding Pre Issue | 1,00,00,000 shares |
| Share Holding Post Issue | 1,54,90,000 shares |
| NSE Symbol | MVKAGRO |
| ISIN | INE0SGC01015 |
M.V.K.Agro Food Product IPO comprises a total issue size of 54,90,000 shares. The net offer to the public is 52,15,200 shares, after excluding 2,74,800 shares allotted on a firm basis. Of the Net offer 26,07,600 (50.00%) allocated to NII 26,07,600 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 26,07,600 | 50.00% | 47.50% |
| Retail Shares Offered | 26,07,600 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,74,800 | 5.01% | |
| Total Shares Offered | 54,90,000 | 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 | ₹1,44,000 |
| Retail (Max) | 1 | 1,200 | ₹1,44,000 |
| HNI (Min) | 2 | 2,400 | ₹2,88,000 |
Incorporated in February 2018, MVK Agro Food Product Limited is a manufacturer of integrated sugar and other related products. The company has a licensed crushing capacity of 2,500 TCD and sells its by-products, Molasses, Bagasse, and Pressmud.
The company sells its products through brokers who, in turn, sell to export houses such as PepsiCo Holdings India Private Limited, Parle Biscuits Private Limited and Britannia Industries Limited. In addition to selling its products to brokers, the company also supplies commodities to export-oriented traders like Sakuma Exports Limited, Indian Sugar Exim Corporation, Garden Court, and HRMM Agro Overseas Private Limited.
The company operates a zero-waste manufacturing facility. Waste generated is either sold or used to generate power.
The revenues from operations for the six months ended September 30, 2023, and the fiscal years 2023, 2022, and 2021 were ₹6,012.52 lakhs, ₹9,327.65 lakhs, ₹13,067.11 lakhs, and ₹2,283.40 lakhs, respectively.
The company's manufacturing facility is located in Nanded District, Maharashtra.
As of September 2023, the company has 160 employees across various departments.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 148.04 | 154.72 | 116.02 | 114.46 |
| Total Income | 60.44 | 93.94 | 132.64 | 25.83 |
| Profit After Tax | 4.30 | 3.77 | 3.20 | 1.40 |
| NET Worth | 17.68 | 13.38 | 9.60 | 6.40 |
| Reserves and Surplus | 12.68 | 8.38 | 4.60 | 1.40 |
| Total Borrowing | 62.81 | 91.56 | 60.01 | 74.96 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Setting up a greenfield unit in Nanded, Maharashtra for (i) manufacturing Ethanol and (ii) generation and bottling of Bio-CNG and Fertilizer | 52.38 |
| 2 | General corporate purposes | 5.87 |
| KPI | Mar 31, 2023 |
|---|---|
| ROE | 32.85% |
| ROCE | 13.44% |
| Debt/Equity | 6.84 |
| RoNW | 32.85% |
| PAT Margin | 4.02% |
| Price to Book Value | 4.49 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.77 | 5.55 |
| P/E (x) | 31.79 | 21.61 |
| Promoter Holding | 100.00% | 64.56% |
| Market Cap | ₹185.88 Cr. |
The M.V.K. Agro Food IPO is subscribed 8.46 times on March 4, 2024 6:21:00 PM (Day 3). The public issue subscribed 13.01 times in the retail category, [.] times in the QIB category, and 3.9 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 3.9 | 26,07,600 | 1,01,74,800 |
| Retail | 13.01 | 26,07,600 | 3,39,21,600 |
| Total | 8.46 | 52,15,200 | 4,41,36,000 |
Total Application : 28,268
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and payment to other Intermediaries such as Legal Advisors to the IPO, Registrars and other out of pocket expenses. | 0.59 |
| 2 | Marketing and Selling Commission and expenses | 6.60 |
| 3 | Advertising and marketing expenses | 0.16 |
| 4 | Printing and distribution of issue stationery | 0.02 |
| 5 | Listing fees | 0.01 |
| 6 | SEBI and NSE processing fees | 0.04 |
| 7 | Other regulatory expenses | 0.17 |
| 8 | Miscellaneous | 0.05 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹120.00 |
| Open | ₹79.00 |
| Low | ₹75.05 |
| High | ₹82.95 |
| Last Trade | ₹82.95 |
Lead Manager Reports
M.V.K.Agro Food Product IPO is a SME IPO of 54,90,000 equity shares of the face value of ₹10 aggregating up to ₹66 Crores. The issue is priced at ₹120 per share. The minimum order quantity is 1200.
The IPO opens on Thu, Feb 29, 2024, and closes on Mon, Mar 4, 2024.
MAS Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in M.V.K.Agro Food Product IPO using UPI as a payment gateway. Zerodha customers can apply in M.V.K.Agro Food Product IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in M.V.K.Agro Food Product IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The M.V.K.Agro Food Product IPO opens on Thu, Feb 29, 2024 and closes on Mon, Mar 4, 2024.
M.V.K.Agro Food Product IPO lot size is 1200, and the minimum amount required for application is ₹1,44,000.
You can apply in M.V.K.Agro Food Product 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 M.V.K.Agro Food Product IPO will be done on Tuesday, March 5, 2024, and the allotted shares will be credited to your demat account by Wed, Mar 6, 2024. Check the M.V.K.Agro Food Product IPO allotment status.
The M.V.K.Agro Food Product IPO listing date is on Thu, Mar 7, 2024.
