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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 ₹120.00 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). The minimum lot size investment for 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 Date | February 29, 2024 to March 4, 2024 |
| Listing Date | March 7, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹120 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 54,90,000 shares (aggregating up to ₹65.88 Cr) |
| Reserved for Market Maker | 2,74,800 shares Nikunj Stock Brokers Ltd. (aggregating up to ₹3.30 Cr) |
| Net Offered to Public | 52,15,200 shares (aggregating up to ₹62.58 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,00,00,000 shares |
| Share Holding Post Issue | 1,54,90,000 shares |
M.V.K. Agro Food IPO offers total 54,90,000 shares. Out of which 26,07,600 (47.50%) allocated to NII, 26,07,600 (47.50%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,74,800 (5.01%) |
| NII (HNI) Shares Offered | 26,07,600 (47.50%) |
| Retail Shares Offered | 26,07,600 (47.50%) |
| Total Shares Offered | 54,90,000 (100.00%) |
M.V.K.Agro Food Product IPO opens on February 29, 2024, and closes on March 4, 2024.
| IPO Open Date | Thu, Feb 29, 2024 |
| IPO Close Date | Mon, Mar 4, 2024 |
| Tentative Allotment | Tue, Mar 5, 2024 |
| Initiation of Refunds | Wed, Mar 6, 2024 |
| Credit of Shares to Demat | Wed, Mar 6, 2024 |
| Tentative Listing Date | Thu, Mar 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Mar 4, 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 | ₹1,44,000 |
| Retail (Max) | 1 | 1,200 | ₹1,44,000 |
| HNI (Min) | 2 | 2,400 | ₹2,88,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
M.V.K. Agro Food Product Ltd's revenue decreased by -29.18% and profit after tax (PAT) rose by 18.02% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 14,804.05 | 15,471.93 | 11,602.06 | 11,445.70 |
| Total Income | 6,044.36 | 9,393.63 | 13,263.56 | 2,583.10 |
| Profit After Tax | 430.07 | 377.45 | 319.81 | 140.41 |
| Net Worth | 1,767.74 | 1,337.67 | 960.22 | 640.41 |
| Reserves and Surplus | 1,267.74 | 837.67 | 460.22 | 140.41 |
| Total Borrowing | 6,281.23 | 9,156.10 | 6,001.32 | 7,496.33 |
| Amount in ₹ Lakhs | ||||
The market capitalization of M.V.K.Agro Food Product IPO is ₹185.88 Cr.
KPI as of Fri, Mar 31, 2023.
| KPI | Values |
|---|---|
| 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 Rs | 3.77 | 5.55 |
| P/E (x) | 31.79 | 21.61 |
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
[Dilip Davda] The company is primarily in sugar productions and has few other by-products. It is adding ethanol plant to tap the rising demand for this by-product. The company marked inconsistency in its top and bottom lines for the reported periods. Based on its FY24 annualized super earnings, the issue appears aggressively priced. Well-informed/cash surplus investors may park funds for the medium to long term rewards. Read detail review...
| Listing Date | March 7, 2024 |
| BSE Script Code | |
| NSE Symbol | MVKAGRO |
| ISIN | INE0SGC01015 |
| Final Issue Price | ₹120 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹120.00 |
| Open | ₹79.00 |
| Low | ₹75.05 |
| High | ₹82.95 |
| Last Trade | ₹82.95 |
M.V.K.Agro Food Product Ltd.
GUT No. 44 and 46
Kusumnagar, At Post
Waghalwada, Umari,
Nanded, Maharashtra, 431807
Phone: +91 862 309 4480
Email: info@mvkagrofood.com
Website: https://mvkagrofood.com/
MAS Services Ltd.
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp
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 ₹65.88 Crores. The issue is priced at ₹120 per share. The minimum order quantity is 1200.
The IPO opens on February 29, 2024, and closes on March 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 February 29, 2024 and closes on March 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 Wednesday, March 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 Thursday, March 7, 2024.
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