Fixed Price IPO | ₹15 Cr | Listed at BSE SME | Fri, Apr 26, 2019 - Thu, May 2, 2019
White Organic Retail IPO is a fixed price issue of ₹15.46 crores. The issue is entirely a fresh issue of 0.25 crore shares of ₹15.46 crore.
White Organic Retail IPO bidding started from Apr 26, 2019 and ended on May 2, 2019. The allotment for White Organic Retail IPO was finalized on May 7, 2019. The shares got listed on BSE SME on May 10, 2019.
White Organic Retail IPO price is ₹63 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,26,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,52,000.
Finshore Management Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Moneylicious Securities Pvt.Ltd..
Refer to White Organic Retail IPO RHP for detailed Information.
IPO Open
Fri, Apr 26, 2019
IPO Close
Thu, May 2, 2019
Issue Price
₹63 per share
Market Cap (Pre-IPO)
₹34.36 Cr
| IPO Date | 26 Apr to 2 May, 2019 |
| Listed on | Fri, May 10, 2019 |
| Face Value | ₹10 per share |
| Issue Price | ₹63 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 24,54,000 shares (agg. up to ₹15 Cr) |
| Reserved for Market Maker | 1,24,000 shares Moneylicious Securities Pvt.Ltd. (agg. up to ₹0.7812 Cr) |
| Fresh Issue (Ex Market Maker) | 23,30,000 shares (agg. up to ₹15 Cr) |
| Net Offered to Public | 23,30,000 shares (agg. up to ₹15 Cr) |
| Share Holding Pre Issue | 30,00,000 shares |
| Share Holding Post Issue | 54,54,000 shares |
| BSE Script Code | 542667 |
| ISIN | INE06CG01019 |
White Organic Retail IPO comprises a total issue size of 24,54,000 shares. The net offer to the public is 23,30,000 shares, after excluding 1,24,000 shares allotted on a firm basis. Of the Net offer 11,64,000 (49.96%) allocated to NII 11,66,000 (50.04%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 11,64,000 | 49.96% | 47.43% |
| Retail Shares Offered | 11,66,000 | 50.04% | 47.51% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,24,000 | 5.05% | |
| Total Shares Offered | 24,54,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,26,000 |
| Retail (Max) | 1 | 2,000 | ₹1,26,000 |
| HNI (Min) | 2 | 4,000 | ₹2,52,000 |
Incorporated in 2011, Mumbai based White Organic Retail Ltd is engaged in the trading of agriculture products such as Vegetables, Fruits, Grains, Pulses, and Cereals. Initially, before Sept 2016, the company was named as Sapna Infraventure Private Limited and involved in Real Estate Development Activity. In Oct 2016, the company started retailing and distribution operations of Organic Products. It had a store for the commercial operation at Chembur, Mumbai which is closed now. Although, the company is about to open the new store at Bhandup (West), Mumbai.
Future Plans:
The company has future plans to expand distribution and retail network, which are as follow:
1. It is planning to establish more than 40 retail outlets.
2. The company will launch new products such as Aloe Vera Juices, Incence Sticks, Aloe Vera Gel, Soap, Mukhwas, Health Powders, Syrups, Churans, Snacks, Sweetners, Cow Ghee, Jaggery, Beauty Products, etc.
3. It is also looking to introduce the capsule range of Jvara, Haldi, Amla, etc; and medicinal powders of Rasayan, Moringa, Ashwagandha, Gokharu, etc.
4. The management of the company is also looking to introduce eCommerce website and mobile application soon.
5. White Organic Retail Ltd also has plans to start export operations in future.
The competitive strengths of the company are:
1. A strong client base
2. Wide product range
3. Effective supplier relationship
| Period Ended |
|---|
| 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 the working capital requirements of the Company | 12.51 |
| 2 | Issue related expenses | 0.95 |
| 3 | General corporate purposes | 2.00 |
The White Organic IPO is subscribed 1.36 times on May 2, 2019 6:49:00 PM (Day 5). The public issue subscribed 0.7 times in the retail category, [.] times in the QIB category, and 2.02 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.02 | 11,65,000 | 23,58,000 |
| Retail | 0.7 | 11,65,000 | 8,18,000 |
| Total | 1.36 | 23,30,000 | 31,76,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including Underwriting Commission, Brokerage, Selling Commission and upload Fees, Registrar to the Issue, Legal Advisors etc. and other out of Pocket Expenses | 0.74 |
| 2 | Advertising and Marketing Expenses | 0.03 |
| 3 | Regulators Including Stock Exchanges | 0.15 |
| 4 | Printing and distribution of Issue Stationary | 0.03 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹63.00 |
| Open | ₹64.20 |
| Low | ₹64.00 |
| High | ₹64.45 |
| Last Trade | ₹64.30 |
Lead Manager Reports
White Organic Retail IPO is a SME IPO of 24,54,000 equity shares of the face value of ₹10 aggregating up to ₹15 Crores. The issue is priced at ₹63 per share. The minimum order quantity is 2000.
The IPO opens on Fri, Apr 26, 2019, and closes on Thu, May 2, 2019.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in White Organic Retail IPO using UPI as a payment gateway. Zerodha customers can apply in White Organic Retail IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in White Organic Retail IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The White Organic Retail IPO opens on Fri, Apr 26, 2019 and closes on Thu, May 2, 2019.
White Organic Retail IPO lot size is 2000, and the minimum amount required for application is ₹1,26,000.
You can apply in White Organic Retail 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 White Organic Retail IPO will be done on Tuesday, May 7, 2019, and the allotted shares will be credited to your demat account by Thu, May 9, 2019. Check the White Organic Retail IPO allotment status.
The White Organic Retail IPO listing date is on Fri, May 10, 2019.
