Bookbuilding IPO | ₹45 Cr | Listed at NSE SME | Fri, May 31, 2024 - Tue, Jun 4, 2024
TBI Corn IPO is a book build issue of ₹44.94 crores. The issue is entirely a fresh issue of 0.48 crore shares of ₹44.94 crore.
TBI Corn IPO bidding started from May 31, 2024 and ended on Jun 4, 2024. The allotment for TBI Corn IPO was finalized on Jun 5, 2024. The shares got listed on NSE SME on Jun 7, 2024.
TBI Corn IPO price band is set at ₹94 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,12,800 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,25,600.
Swastika Investmart Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is SS Corporate Securities Ltd..
Refer to TBI Corn IPO RHP for detailed Information.
IPO Open
Fri, May 31, 2024
IPO Close
Tue, Jun 4, 2024
Issue Price
₹94 per share
Market Cap (Pre-IPO)
₹170.69 Cr
| IPO Date | 31 May to 4 Jun, 2024 |
| Listed on | Fri, Jun 7, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹90 to ₹94 |
| Issue Price | ₹94 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 47,80,800 shares (agg. up to ₹45 Cr) |
| Reserved for Market Maker | 2,40,000 shares SS Corporate Securities Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 45,40,800 shares (agg. up to ₹43 Cr) |
| Net Offered to Public | 45,40,800 shares (agg. up to ₹43 Cr) |
| Share Holding Pre Issue | 1,33,77,605 shares |
| Share Holding Post Issue | 1,81,58,405 shares |
| NSE Symbol | TBI |
| ISIN | INE0N2D01013 |
TBI Corn IPO comprises a total issue size of 47,80,800 shares. The net offer to the public is 45,40,800 shares, after excluding 2,40,000 shares allotted on a firm basis. Of the Net offer 22,65,600 (49.89%) are allocated to QIB, 6,82,800 (15.04%) allocated to NII 15,92,400 (35.07%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 22,65,600 | 49.89% | 47.39% |
| − Anchor Investor Shares Offered | 13,58,400 | 28.41% | |
| − QIB (Ex. Anchor) Shares Offered | 9,07,200 | 18.98% | |
| NII (HNI) Shares Offered | 6,82,800 | 15.04% | 14.28% |
| Retail Shares Offered | 15,92,400 | 35.07% | 33.31% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,40,000 | 5.02% | |
| Total Shares Offered | 47,80,800 | 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 | ₹1,12,800 |
| Retail (Max) | 1 | 1,200 | ₹1,12,800 |
| HNI (Min) | 2 | 2,400 | ₹2,25,600 |
TBI Corn IPO raises ₹12.77 crore from anchor investors. TBI Corn IPO Anchor bid date is May 30, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, May 30, 2024 |
| Shares Offered | 13,58,400 |
| Anchor Portion (₹ Cr.) | 12.77 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jul 5, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Sep 3, 2024 |
Incorporated in 2000, TBI Corn Limited is a manufacturer and exporter of Corn Meal Grits. The Company is ISO 9001:2015 and ISO 22000:2018 certified.
The company specialize in producing high-quality Corn/Maize Grits and related products in the Sangli district of Maharashtra, India.
The company sells various products, including fat-free corn grits/meals, corn flakes, stone-free broken maize and corn flour, and turmeric finger.
All products are made without chemical additives or preservatives and are GMO-free.
The company exports its products to various countries such as Dubai, Oman, Jordan, South Africa, and Vietnam.
As of 31st December 2023, the company has a total of 48 employees
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 95.12 | 121.62 | 43.18 | 42.55 |
| Total Income | 101.97 | 140.43 | 100.97 | 67.76 |
| Profit After Tax | 7.66 | 6.86 | 0.45 | 0.24 |
| NET Worth | 40.68 | 26.78 | 6.83 | 5.12 |
| Reserves and Surplus | 27.30 | 16.77 | ||
| Total Borrowing | 51.37 | 63.53 | 25.49 | 23.01 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expansion of Existing Unit | 16.80 |
| 2 | To Meet Incremental Working Capital Requirements | 17.00 |
| 3 | General Corporate Purpose | 8.94 |
| KPI | Dec 31, 2023 |
|---|---|
| ROE | 18.84% |
| ROCE | 18.65% |
| Debt/Equity | 0.43 |
| RoNW | 18.84% |
| PAT Margin | 7.59% |
| Price to Book Value | 3.09 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.13 | 5.63 |
| P/E (x) | 18.33 | 16.7 |
| Promoter Holding | 76.65% | 57.71% |
| Market Cap | ₹170.69 Cr. |
The TBI Corn IPO is subscribed 231.21 times on June 4, 2024 6:19:55 PM (Day 3). The public issue subscribed 194.59 times in the retail category, 81.41 times in the QIB category, and 516.50 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 81.41 | 9,08,800 | 7,39,83,600 |
| NII* | 516.50 | 6,81,600 | 35,20,44,000 |
| Retail | 194.59 | 15,92,000 | 30,97,89,600 |
| Total | 231.21 | 31,82,400 | 73,58,17,200 |
Total Applications: 2,58,158
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fees including Underwriting Commission and Other intermediaries Fee. | 2.10 |
| 2 | Fees Payable Advertising, Marketing Expenses and Printing Expenses. | 0.06 |
| 3 | Fees Payable to Regulators including Stock Exchanges | 0.04 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹94.00 |
| Open | ₹198.00 |
| Low | ₹198.00 |
| High | ₹207.90 |
| Last Trade | ₹207.90 |
Lead Manager Reports
TBI Corn IPO is a SME IPO of 47,80,800 equity shares of the face value of ₹10 aggregating up to ₹45 Crores. The issue is priced at ₹94 per share. The minimum order quantity is 1200.
The IPO opens on Fri, May 31, 2024, and closes on Tue, Jun 4, 2024.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in TBI Corn IPO using UPI as a payment gateway. Zerodha customers can apply in TBI Corn IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in TBI Corn IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The TBI Corn IPO opens on Fri, May 31, 2024 and closes on Tue, Jun 4, 2024.
TBI Corn IPO lot size is 1200, and the minimum amount required for application is ₹1,12,800.
You can apply in TBI Corn 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 TBI Corn IPO will be done on Wednesday, June 5, 2024, and the allotted shares will be credited to your demat account by Thu, Jun 6, 2024. Check the TBI Corn IPO allotment status.
The TBI Corn IPO listing date is on Fri, Jun 7, 2024.
