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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 ₹63.00 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). The minimum lot size investment for 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 Date | April 26, 2019 to May 2, 2019 |
| Listing Date | May 10, 2019 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹63 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 24,54,000 shares (aggregating up to ₹15.46 Cr) |
| Reserved for Market Maker | 1,24,000 shares Moneylicious Securities Pvt.Ltd. (aggregating up to ₹0.7812 Cr) |
| Net Offered to Public | 23,30,000 shares (aggregating up to ₹14.68 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 30,00,000 shares |
| Share Holding Post Issue | 54,54,000 shares |
White Organic IPO offers total 24,54,000 shares. Out of which 11,64,000 (47.43%) allocated to NII, 11,66,000 (47.51%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,24,000 (5.05%) |
| NII (HNI) Shares Offered | 11,64,000 (47.43%) |
| Retail Shares Offered | 11,66,000 (47.51%) |
| Total Shares Offered | 24,54,000 (100.00%) |
White Organic Retail IPO opens on April 26, 2019, and closes on May 2, 2019.
| IPO Open Date | Fri, Apr 26, 2019 |
| IPO Close Date | Thu, May 2, 2019 |
| Tentative Allotment | Tue, May 7, 2019 |
| Initiation of Refunds | Wed, May 8, 2019 |
| Credit of Shares to Demat | Thu, May 9, 2019 |
| Tentative Listing Date | Fri, May 10, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, May 2, 2019 |
Investors can bid for a minimum of 2,000 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 | 2,000 | ₹1,26,000 |
| Retail (Max) | 1 | 2,000 | ₹1,26,000 |
| HNI (Min) | 2 | 4,000 | ₹2,52,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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
| Particulars | For the year/period ended (in Rs. Lakhs) | ||||
|---|---|---|---|---|---|
| 31-Dec-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | ||
| Total Assets | 6,022.65 | 5,017.40 | 1,447.81 | 1,276.55 | |
| Total Revenue | 11,549.52 | 8,292.76 | 142.62 | - | |
| Profit After Tax | 450.78 | 302.45 | 58.68 | 23.90 | |
The Company White Organic Retail IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding the working capital requirements of the Company | 12.51 |
| 2 | Issue related expenses | 0.95 |
| 3 | General corporate purposes | 2.00 |
[Dilip Davda] <p>Based on the financial parameters and recent performance, the issue appears attractively priced. Super performance for FY18 and 9MFY19 raises eyebrows. Group's tendency to change business model raises concern. Considering future plans, investors may consider investment for the long term.</p> Read detail review...
| Listing Date | May 10, 2019 |
| BSE Script Code | 542667 |
| NSE Symbol | |
| ISIN | INE06CG01019 |
| Final Issue Price | ₹63 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹63.00 |
| Open | ₹64.20 |
| Low | ₹64.00 |
| High | ₹64.45 |
| Last Trade | ₹64.30 |
White Organic Retail Ltd.
312A, Kailas Plaza,
Vallabh Baug Lane,
Ghatkopar (East),
Mumbai, Maharashtra, 400077
Phone: 022 25011983
Email: info@whiteorganics.co.in
Website: http://www.whiteorganics.co.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: worl.ipo@linktime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
White Organic Retail IPO is a SME IPO of 24,54,000 equity shares of the face value of ₹10 aggregating up to ₹15.46 Crores. The issue is priced at ₹63 per share. The minimum order quantity is 2000.
The IPO opens on April 26, 2019, and closes on 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 April 26, 2019 and closes on 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 Thursday, May 9, 2019. Check the White Organic Retail IPO allotment status.
The White Organic Retail IPO listing date is on Friday, May 10, 2019.
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