Fixed Price IPO | ₹70 Cr | Listed at NSE SME | Wed, May 24, 2023 - Fri, May 26, 2023
Proventus Agrocom IPO is a fixed price issue of ₹69.54 crores. The issue is a combination of fresh issue of 0.07 crore shares aggregating to ₹51.79 crores and offer for sale of 0.02 crore shares aggregating to ₹17.74 crores.
Proventus Agrocom IPO bidding started from May 24, 2023 and ended on May 26, 2023. The allotment for Proventus Agrocom IPO was finalized on May 31, 2023. The shares got listed on NSE SME on Jun 5, 2023.
Proventus Agrocom IPO price is ₹771 per share. The lot size for an application is 160. The minimum amount of investment required by an individual investor (retail) is ₹1,23,360 (160 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (320 shares), amounting to ₹2,46,720.
Sundae Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Ajcon Global Services Ltd..
Refer to Proventus Agrocom IPO RHP for detailed Information.
IPO Open
Wed, May 24, 2023
IPO Close
Fri, May 26, 2023
Issue Price
₹771 per share
Market Cap (Pre-IPO)
₹264.27 Cr
| IPO Date | 24 to 26 May, 2023 |
| Listed on | Mon, Jun 5, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹771 per share |
| Lot Size | 160 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 9,01,920 shares (agg. up to ₹70 Cr) |
| Reserved for Market Maker | 45,120 shares Ajcon Global Services Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 6,26,653 shares (agg. up to ₹48 Cr) |
| Offer for Sale | 2,30,147 shares of ₹10 (agg. up to ₹18 Cr) |
| Net Offered to Public | 8,56,800 shares (agg. up to ₹66 Cr) |
| Share Holding Pre Issue | 27,55,768 shares |
| Share Holding Post Issue | 34,27,541 shares |
| NSE Symbol | PROV |
| ISIN | INE0ONE01016 |
Proventus Agrocom IPO comprises a total issue size of 9,02,020 shares. The net offer to the public is 8,56,900 shares, after excluding 45,120 shares allotted on a firm basis. Of the Net offer 4,28,450 (50.00%) allocated to NII 4,28,450 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 4,28,450 | 50.00% | 47.50% |
| Retail Shares Offered | 4,28,450 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 45,120 | 5.00% | |
| Total Shares Offered | 9,02,020 | 100.00% | 100.00% |
Investors can bid for a minimum of 160 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 160 | ₹1,23,360 |
| Retail (Max) | 1 | 160 | ₹1,23,360 |
| HNI (Min) | 2 | 320 | ₹2,46,720 |
Incorporated in 2015, Proventus Agrochem Limited is an integrated health food brand. The company has its presence in the entire range of dry fruits, nuts, seeds, and berries. The product of company also includes various healthy snacking products across the value chain.
The motto of Proventus is to create expertise in healthy food products. They strive at building the revenue stream by moving across the value chain from origination to distribution and creating an integrated business model - from "farm to homes".
The company is attempting to fill the vacuum in the healthy snacking range in the Indian market, especially in the dry fruits, nuts, seeds, and berries category.
The products of the company are marketed under the brand - "ProV".
The product range of Proventus Agrochem Limited includes Nuts, Dry Fruits, Seeds, and Berries like:
The Group Proventus Agrochem Limited operates through its Material Subsidiaries like Prov Foods Private Limited, and Proventus Retail Private Limited.
| Period Ended | 31 Dec 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 97.35 | 101.31 | 88.43 | 89.37 |
| Total Income | 319.10 | 404.35 | 301.74 | 900.89 |
| Profit After Tax | 1.90 | 1.14 | 1.88 | -21.90 |
| NET Worth | 61.67 | 59.67 | 58.45 | 56.64 |
| Reserves and Surplus | 52.35 | 50.34 | 49.12 | 47.31 |
| Total Borrowing | 30.61 | 34.44 | 29.41 | 17.29 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of the Company | 9.91 |
| 2 | Funding working capital requirements of our material subsidiary namely, Prov Foods Private Limited | 29.86 |
| 3 | General Corporate Purposes | 10.78 |
| KPI | Mar 31, 2022 |
|---|---|
| ROE | 2 |
| ROCE | 4 |
| Debt/Equity | 0.56 |
| RoNW | 1.91 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.14 | |
| P/E (x) | 186.23 | |
| Promoter Holding | 92.29% | 70.84% |
| Market Cap | ₹264.27 Cr. |
The Proventus Agrocom IPO is subscribed 2.70 times on May 26, 2023 7:29:00 PM (Day 3). The public issue subscribed 0.74 times in the retail category, [.] times in the QIB category, and 4.65 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 4.65 | 4,28,430 | 19,91,200 |
| Retail | 0.74 | 4,28,450 | 3,18,880 |
| Total | 2.70 | 8,56,880 | 23,10,080 |
Total Applications: 1,993
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager's fees (including underwriting commission) | |
| 2 | Brokerage, selling commission and upload fees | |
| 3 | Fees payable to Legal Advisors to the Legal Chapters | |
| 4 | Fees payable to Registrar to the Offer | |
| 5 | Listing fees, upload fees, NSE processing fees and other regulatory expenses | |
| 6 | Printing and distribution of stationery | |
| 7 | Advertising and Marketing expenses | |
| 8 | Miscellaneous (market making, depositories, Industry Report, secretarial, auditor, stamp duty on allotment, etc.) |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹771.00 |
| Open | ₹821.00 |
| Low | ₹821.00 |
| High | ₹862.05 |
| Last Trade | ₹862.05 |
Lead Manager Reports
Proventus Agrocom IPO is a SME IPO of 9,01,920 equity shares of the face value of ₹10 aggregating up to ₹70 Crores. The issue is priced at ₹771 per share. The minimum order quantity is 160.
The IPO opens on Wed, May 24, 2023, and closes on Fri, May 26, 2023.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Proventus Agrocom IPO using UPI as a payment gateway. Zerodha customers can apply in Proventus Agrocom IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Proventus Agrocom IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Proventus Agrocom IPO opens on Wed, May 24, 2023 and closes on Fri, May 26, 2023.
Proventus Agrocom IPO lot size is 160, and the minimum amount required for application is ₹1,23,360.
You can apply in Proventus Agrocom 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 Proventus Agrocom IPO will be done on Wednesday, May 31, 2023, and the allotted shares will be credited to your demat account by Fri, Jun 2, 2023. Check the Proventus Agrocom IPO allotment status.
The Proventus Agrocom IPO listing date is on Mon, Jun 5, 2023.
