Fixed Price IPO | ₹6 Cr | Listed at BSE SME | Wed, May 8, 2024 - Fri, May 10, 2024
TGIF Agribusiness IPO is a fixed price issue of ₹6.39 crores. The issue is entirely a fresh issue of 0.07 crore shares of ₹6.39 crore.
TGIF Agribusiness IPO bidding started from May 8, 2024 and ended on May 10, 2024. The allotment for TGIF Agribusiness IPO was finalized on May 13, 2024. The shares got listed on BSE SME on May 15, 2024.
TGIF Agribusiness IPO price is ₹93 per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹1,11,600 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,23,200.
Hem Securities 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 Hem Finlease Pvt.Ltd..
Refer to TGIF Agribusiness IPO RHP for detailed Information.
IPO Open
Wed, May 8, 2024
IPO Close
Fri, May 10, 2024
Issue Price
₹93 per share
Market Cap (Pre-IPO)
₹24.06 Cr
| IPO Date | 8 to 10 May, 2024 |
| Listed on | Wed, May 15, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹93 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 6,87,600 shares (agg. up to ₹6 Cr) |
| Reserved for Market Maker | 34,800 shares Hem Finlease Pvt.Ltd. (agg. up to ₹0.3236 Cr) |
| Fresh Issue (Ex Market Maker) | 6,52,800 shares (agg. up to ₹6 Cr) |
| Net Offered to Public | 6,52,800 shares (agg. up to ₹6 Cr) |
| Share Holding Pre Issue | 19,00,000 shares |
| Share Holding Post Issue | 25,87,600 shares |
| BSE Script Code | 544175 |
| ISIN | INE0SMU01015 |
TGIF Agribusiness IPO comprises a total issue size of 6,87,600 shares. The net offer to the public is 6,52,800 shares, after excluding 34,800 shares allotted on a firm basis. Of the Net offer 3,26,400 (50.00%) allocated to NII 3,26,400 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 3,26,400 | 50.00% | 47.47% |
| Retail Shares Offered | 3,26,400 | 50.00% | 47.47% |
| Firm Reservations | |||
| Market Maker Shares Offered | 34,800 | 5.06% | |
| Total Shares Offered | 6,87,600 | 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 | ₹1,11,600 |
| Retail (Max) | 1 | 1,200 | ₹1,11,600 |
| HNI (Min) | 2 | 2,400 | ₹2,23,200 |
Founded in 2014, TGIF Agribusiness Limited, previously known as ARV Farmpro LLP, is active in the open field cultivation of fruit and vegetable varieties.
The company is engaged in the cultivation of pomegranates, dragon fruit and timber plantations, i.e. sagwan trees. The company also grows and harvests seasonal vegetables and fruits such as lemons, watermelons and chilies.
The company's farmlands are located in Ajari, Kasindra and Kojra in Rajasthan and cover an area of over 110 acres. The land has been leased from Niraj Chhaganraj Gemawat (promoter), Rachna Gemawat (promoter), Niraj Chhaganraj Gemawat HUF and Vipin Moharir.
The company sells most of its products through a B2B business model to retailers, wholesalers, retail chains, hypermarkets and mandis. The company also plans to sell its products directly to customers through a B2C model called Direct2home Service.
As of November 30, 2023, the company employed around 8 people at various levels of the organization.
| Period Ended | 30 Nov 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 2.82 | 1.88 | 0.65 | 2.92 |
| Total Income | 1.72 | 2.32 | 2.07 | 1.82 |
| Profit After Tax | 0.81 | 1.30 | 1.15 | 0.38 |
| NET Worth | 1.90 | 1.76 | 0.46 | 2.58 |
| Total Borrowing | 0.67 | |||
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of agricultural equipments & irrigation system | 2.06 |
| 2 | To meet Working Capital requirements | 2.27 |
| 3 | General Corporate Purpose | 1.54 |
| KPI | Nov 30, 2024 |
|---|---|
| RoNW | 42.85 |
| PAT Margin | 47.70% |
| Price to Book Value | 9.30 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.85 | 4.72 |
| P/E (x) | 13.58 | 19.71 |
| Promoter Holding | 99.80% | 73.28% |
| Market Cap | ₹24.06 Cr. |
The TGIF Agribusiness IPO is subscribed 37.13 times on May 10, 2024 6:19:06 PM (Day 3). The public issue subscribed 32.92 times in the retail category, [.] times in the QIB category, and 35.35 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 35.35 | 3,26,400 | 1,15,36,800 |
| Retail | 32.92 | 3,26,400 | 1,07,44,800 |
| Total | 37.13 | 6,52,800 | 2,42,40,000 |
Total Application : 10,906
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees | 0.24 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.03 |
| 4 | Fees Payable to Regulators including Stock Exchange | 0.03 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.02 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.03 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees, Underwriting fees and Miscellaneous Expenses) | 0.19 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹93.00 |
| Open | ₹150.00 |
| Low | ₹142.50 |
| High | ₹156.80 |
| Last Trade | ₹142.50 |
Lead Manager Reports
TGIF Agribusiness IPO is a SME IPO of 6,87,600 equity shares of the face value of ₹10 aggregating up to ₹6 Crores. The issue is priced at ₹93 per share. The minimum order quantity is 1200.
The IPO opens on Wed, May 8, 2024, and closes on Fri, May 10, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in TGIF Agribusiness IPO using UPI as a payment gateway. Zerodha customers can apply in TGIF Agribusiness IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in TGIF Agribusiness IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The TGIF Agribusiness IPO opens on Wed, May 8, 2024 and closes on Fri, May 10, 2024.
TGIF Agribusiness IPO lot size is 1200, and the minimum amount required for application is ₹1,11,600.
You can apply in TGIF Agribusiness 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 TGIF Agribusiness IPO will be done on Monday, May 13, 2024, and the allotted shares will be credited to your demat account by Tue, May 14, 2024. Check the TGIF Agribusiness IPO allotment status.
The TGIF Agribusiness IPO listing date is on Wed, May 15, 2024.
