Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
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 ₹94.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,08,000 (1200 shares). The minimum lot size investment for 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 Date | May 31, 2024 to June 4, 2024 |
| Listing Date | June 7, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹90 to ₹94 per share |
| Issue Price Final | ₹94 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 47,80,800 shares (aggregating up to ₹44.94 Cr) |
| Reserved for Market Maker | 2,40,000 shares SS Corporate Securities Ltd. (aggregating up to ₹2.26 Cr) |
| Net Offered to Public | 45,40,800 shares (aggregating up to ₹42.68 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,33,77,605 shares |
| Share Holding Post Issue | 1,81,58,405 shares |
TBI Corn IPO offers total 47,80,800 shares. Out of which 22,65,600 (47.39%) allocated to QIB, 9,07,200 (18.98%) allocated to QIB, 6,82,800 (14.28%) allocated to NII, 15,92,400 (33.31%) allocated to RII and 13,58,400 (28.41%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,40,000 (5.02%) |
| QIB Shares Offered | 22,65,600 (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 (14.28%) |
| Retail Shares Offered | 15,92,400 (33.31%) |
| Total Shares Offered | 47,80,800 (100.00%) |
TBI Corn IPO raises ₹12.77 crore from anchor investors. TBI Corn IPO Anchor bid date is May 30, 2024. TBI Corn IPO Anchor Investors list
| Bid Date | May 30, 2024 |
| Shares Offered | 13,58,400 |
| Anchor Portion Size (In Cr.) | 12.77 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 5, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 3, 2024 |
TBI Corn IPO opens on May 31, 2024, and closes on June 4, 2024.
| IPO Open Date | Fri, May 31, 2024 |
| IPO Close Date | Tue, Jun 4, 2024 |
| Tentative Allotment | Wed, Jun 5, 2024 |
| Initiation of Refunds | Thu, Jun 6, 2024 |
| Credit of Shares to Demat | Thu, Jun 6, 2024 |
| Tentative Listing Date | Fri, Jun 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Jun 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 | ₹1,12,800 |
| Retail (Max) | 1 | 1,200 | ₹1,12,800 |
| HNI (Min) | 2 | 2,400 | ₹2,25,600 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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
TBI Corn Limited's revenue increased by 39.07% and profit after tax (PAT) rose by 1419.24% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 9,511.50 | 12,162.04 | 4,317.63 | 4,254.86 |
| Total Income | 10,196.53 | 14,042.63 | 10,097.26 | 6,776.38 |
| Profit After Tax | 766.45 | 686.09 | 45.16 | 23.93 |
| Net Worth | 4,067.70 | 2,677.81 | 683.24 | 512.42 |
| Reserves and Surplus | 2,729.94 | 1,677.49 | ||
| Total Borrowing | 5,137.13 | 6,352.82 | 2,549.48 | 2,300.94 |
| Amount in ₹ Lakhs | ||||
The market capitalization of TBI Corn IPO is ₹170.69 Cr.
KPI as of Sun, Dec 31, 2023.
| KPI | Values |
|---|---|
| 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 Rs | 5.13 | 5.63 |
| P/E (x) | 18.33 | 16.7 |
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
[Dilip Davda] The company is operating in a highly competitive and fragmented segment of corn milling. It marked boosted growth for the last 21-month financial performance, which raised eyebrows and concern over its sustainability going forward. Based on FY24 annualized super earnings, the issue appears aggressively priced. Well-informed investors may park moderate funds for the medium term rewards. Read detail review...
| Listing Date | June 7, 2024 |
| BSE Script Code | |
| NSE Symbol | TBI |
| ISIN | INE0N2D01013 |
| Final Issue Price | ₹94 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹94.00 |
| Open | ₹198.00 |
| Low | ₹198.00 |
| High | ₹207.90 |
| Last Trade | ₹207.90 |
TBI Corn Ltd.
A5/3 & A5/4, MIDC,
Miraj,
Tal- Miraj
Sangli, Maharashtra, 416410
Phone: (0233) 2644950
Email: cs@tbicorn.com
Website: https://tbicorn.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: tbi.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
TBI Corn IPO is a SME IPO of 47,80,800 equity shares of the face value of ₹10 aggregating up to ₹44.94 Crores. The issue is priced at ₹94 per share. The minimum order quantity is 1200.
The IPO opens on May 31, 2024, and closes on June 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 May 31, 2024 and closes on June 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 Thursday, June 6, 2024. Check the TBI Corn IPO allotment status.
The TBI Corn IPO listing date is on Friday, June 7, 2024.
Useful Articles
RHP