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Chatha Foods IPO is a book built issue of Rs 34.00 crores. The issue is entirely a fresh issue of 59.62 lakh shares.
Chatha Foods IPO bidding started from March 19, 2024 and ended on March 21, 2024. The allotment for Chatha Foods IPO was finalized on Tuesday, March 26, 2024. The shares got listed on BSE SME on March 27, 2024.
Chatha Foods IPO price band is set at ₹53 to ₹56 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹112,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹224,000.
Indorient Financial Services Ltd is the book running lead manager of the Chatha Foods IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Chatha Foods IPO is Alacrity Securities.
Refer to Chatha Foods IPO RHP for detailed information.
| IPO Date | March 19, 2024 to March 21, 2024 |
| Listing Date | March 27, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹53 to ₹56 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 5,962,000 shares (aggregating up to ₹34.00 Cr) |
| Fresh Issue | 5,962,000 shares (aggregating up to ₹34.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 16,534,879 |
| Share holding post issue | 22,496,879 |
| Market Maker portion | 300,000 shares Alacrity Securities |
Chatha Foods IPO offers 5,962,000 shares. 1,132,000 (18.99%) to QIB, 850,000 (14.26%) to NII, 1,982,000 (33.24%) to RII and 1,698,000 (28.48%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,698,000 (28.48%) |
| Market Maker Shares Offered | 300,000 (5.03%) |
| QIB Shares Offered | 1,132,000 (18.99%) |
| NII (HNI) Shares Offered | 850,000 (14.26%) |
| Retail Shares Offered | 1,982,000 (33.24%) |
| Total Shares Offered | 5,962,000 (100%) |
Chatha Foods IPO raises Rs 9.51 crore from anchor investors. Chatha Foods IPO Anchor bid date is March 18, 2024. Chatha Foods IPO Anchor Investors list
| Bid Date | March 18, 2024 |
| Shares Offered | 1,698,000 |
| Anchor Portion Size (In Cr.) | 9.51 |
| Anchor lock-in period end date for 50% shares (30 Days) | April 25, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 24, 2024 |
Chatha Foods IPO opens on March 19, 2024, and closes on March 21, 2024.
| IPO Open Date | Tuesday, March 19, 2024 |
| IPO Close Date | Thursday, March 21, 2024 |
| Basis of Allotment | Tuesday, March 26, 2024 |
| Initiation of Refunds | Wednesday, March 27, 2024 |
| Credit of Shares to Demat | Wednesday, March 27, 2024 |
| Listing Date | Wednesday, March 27, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 21, 2024 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹112,000 |
| Retail (Max) | 1 | 2000 | ₹112,000 |
| HNI (Min) | 2 | 4,000 | ₹224,000 |
| Lot Size Calculator | |||
Paramjit Singh Chatha, Gurpreet Chatha, Gurcharan Singh Gosal and Anmoldeep Singh are the company promoters.
| Share Holding Pre Issue | 81.36% |
| Share Holding Post Issue |
Incorporated in 1997, Chatha Foods Limited (CFL) is a frozen food processor. The company offers frozen food products to top QSRs (Quick Serving Restaurants), CDRs (Casual Dining Restaurants), and other players in the HoReCa (Hotel-Restaurant-Catering) segment. Chatha Foods' product portfolio includes Chicken Appetizers, Meat Patties, Chicken Sausages, Sliced Meat, Toppings & Fillers and more. The company produces more than 70 meat products.
The company sells products under the brand Chatha Foods and distributes through the network of 29 distributors covering 32 cities across India and catering to the needs of 126 mid-segment & standalone small QSR brands.
Chatha Foods Limited has a Manufacturing Facility, located in District Mohali, with a production capacity of approximately 7,839 MT for all the frozen food products.
The company is serving top QSRs, CDRs and other players in the Hotel-Restaurant-Catering segment like Domino's & Subway's India franchise, Café Coffee Day, Wok Express, etc.
Negen Undiscovered Value Fund invested in the Company in 2023 and holds a 10% stake. The company has 284 employees in fiscal year 2023.
Chatha Foods Limited's revenue increased by 34.14% and profit after tax (PAT) rose by 264.66% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 5,827.62 | 5,141.94 | 4,830.31 | 4,330.28 |
| Revenue | 7,078.03 | 11,724.23 | 8,740.31 | 6,119.03 |
| Profit After Tax | 341.04 | 245.20 | 67.24 | -400.35 |
| Net Worth | 2,516.15 | 2,175.12 | 1,929.93 | 1,862.68 |
| Reserves and Surplus | 862.66 | 935.00 | 689.81 | 622.56 |
| Total Borrowing | 987.96 | 1,060.19 | 1,101.33 | 1,065.03 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Chatha Foods IPO is Rs 125.98 Cr.
KPI as of September 30, 2023.
| KPI | Values |
|---|---|
| ROE | 14.54% |
| ROCE | 14.81% |
| Debt/Equity | 0.39 |
| RoNW | 14.54% |
| P/BV | 3.68 |
| PAT Margin (%) | 4.82 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.48 | 3.03 |
| P/E (x) | 37.76 | 18.47 |
The net proceeds of the Issue, i.e. gross proceeds of the Issue less the Issue related expenses ("Net Proceeds") are proposed to be utilised for the following objects:
1. Setting up the Proposed Manufacturing Unit
2. General Corporate Purposes
[Dilip Davda] The company is in frozen food processing and marketing. It supplies its products to QSRs and CDRs to renowned customers. It marked growth in bottom lines due to contribution from veg segment. Based on FY24 annualized super earnings, the issue appears fully priced. The management is confident of maintaining the tempo of growth with higher contribution from veg food section where they are expanding their operations. It will operate on B2B and B2C model post expansion. Investors may park funds for the medium to long term rewards. Read detail review...
The Chatha Foods IPO is subscribed 19.28 times on March 21, 2024 6:21:00 PM. The public issue subscribed 14.60 times in the retail category, 8.54 times in the QIB category, and 44.52 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 8.54 |
| NII | 44.52 |
| Retail | 14.60 |
| Total | 19.28 |
Total Application : 18,695 (18.86 times)
| Listing Date | March 27, 2024 |
| BSE Script Code | 544151 |
| NSE Symbol | |
| ISIN | INE0AH901011 |
| Final Issue Price | ₹56 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹56.00 |
| ₹72.82 |
| ₹72.82 |
| ₹76.00 |
| ₹72.82 |
Chatha Foods Limited
272, Mota Singh Nagar,
Jalandhar – 144 001
Punjab, India
Phone: + 91 18146 16381
Email: cs@cfpl.net.in
Website: http://www.cfpl.net.in/
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
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Chatha Foods IPO is a SME IPO of 5,962,000 equity shares of the face value of ₹10 aggregating up to ₹34.00 Crores. The issue is priced at ₹53 to ₹56 per share. The minimum order quantity is 2000 Shares.
The IPO opens on March 19, 2024, and closes on March 21, 2024.
Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Chatha Foods IPO using UPI as a payment gateway. Zerodha customers can apply in Chatha Foods IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Chatha Foods IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Chatha Foods IPO opens on March 19, 2024 and closes on March 21, 2024.
Chatha Foods IPO lot size is 2000 Shares, and the minimum amount required is ₹112,000.
You can apply in Chatha Foods IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Chatha Foods IPO will be done on Tuesday, March 26, 2024, and the allotted shares will be credited to your demat account by Wednesday, March 27, 2024. Check the Chatha Foods IPO allotment status.
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Given current market conditions. LC may continue. Price may even go below IPO price.
(Not a buy or sell opinion, just my view as observer; no skin in the game.)
There were some negative sentiments with this IPO at the time of issue.