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Freshara Agro Exports Limited IPO (Freshara Agro Exports IPO) Detail

October 17, 2024 - October 21, 2024

Freshara Agro Exports IPO is a book built issue of Rs 75.39 crores. The issue is entirely a fresh issue of 64.99 lakh shares.

Freshara Agro Exports IPO bidding started from October 17, 2024 and ended on October 21, 2024. The allotment for Freshara Agro Exports IPO was finalized on Tuesday, October 22, 2024. The shares got listed on NSE SME on October 24, 2024.

Freshara Agro Exports IPO price band is set at ₹110 to ₹116 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹139,200. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹278,400.

GYR Capital Advisors Private Limited is the book running lead manager of the Freshara Agro Exports IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for Freshara Agro Exports IPO is Giriraj Stock Broking.

Refer to Freshara Agro Exports IPO RHP for detailed information.

Freshara Agro Exports IPO Details

IPO Date October 17, 2024 to October 21, 2024
Listing Date October 24, 2024
Face Value ₹10 per share
Price Band ₹110 to ₹116 per share
Lot Size 1200 Shares
Total Issue Size6,499,200 shares
(aggregating up to ₹75.39 Cr)
Fresh Issue6,499,200 shares
(aggregating up to ₹75.39 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Share holding pre issue17,000,000
Share holding post issue23,499,200
Market Maker portion619,200 shares
Giriraj Stock Broking

Freshara Agro Exports IPO Reservation

Freshara Agro Exports IPO offers 64,99,200 shares. 11,76,000 (18.09%) to QIB, 8,83,200 (13.59%) to NII, 20,59,200 (31.68%) to RII and 17,61,600 (27.1%) to Anchor investors.

Investor Category Shares Offered
Anchor Investor Shares Offered17,61,600 (27.1%)
Market Maker Shares Offered6,19,200 (9.53%)
QIB Shares Offered11,76,000 (18.09%)
NII (HNI) Shares Offered8,83,200 (13.59%)
Retail Shares Offered20,59,200 (31.68%)
Total Shares Offered64,99,200 (100%)

Freshara Agro Exports IPO Anchor Investors Details

Freshara Agro Exports IPO raises Rs 20.43 crore from anchor investors. Freshara Agro Exports IPO Anchor bid date is October 16, 2024. Freshara Agro Exports IPO Anchor Investors list

Bid Date October 16, 2024
Shares Offered 1,761,600
Anchor Portion Size (In Cr.) 20.43
Anchor lock-in period end date for 50% shares (30 Days) November 21, 2024
Anchor lock-in period end date for remaining shares (90 Days) January 20, 2025

Freshara Agro Exports IPO Timeline (Tentative Schedule)

Freshara Agro Exports IPO opens on October 17, 2024, and closes on October 21, 2024.

IPO Open Date Thursday, October 17, 2024
IPO Close Date Monday, October 21, 2024
Basis of Allotment Tuesday, October 22, 2024
Initiation of Refunds Wednesday, October 23, 2024
Credit of Shares to Demat Wednesday, October 23, 2024
Listing Date Thursday, October 24, 2024
Cut-off time for UPI mandate confirmation 5 PM on October 21, 2024

Freshara Agro Exports IPO Lot Size

Investors can bid for a minimum of 1200 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 1200 ₹139,200
Retail (Max) 1 1200 ₹139,200
HNI (Min) 2 2,400 ₹278,400
Lot Size Calculator

Freshara Agro Exports IPO Promoter Holding

Mr. Junaid Ahmed, Mr. Iqbalahmed Khudrathullah Mohammed, and Mrs. Asma Syed are the company's promoters.

Share Holding Pre Issue 86.50%
Share Holding Post Issue

About Freshara Agro Exports Limited

Freshara Agro Exports Limited, formerly known as Freshara Picklz Exports, was established in 2015 and procures, processes and exports preserved Gherkins and other pickled goods from India to various countries across the world.

Under a contract farming program, the company exports raw produce from local farmers in Tamil Nadu, Karnataka, and some parts of Andhra Pradesh. 70% of the produce is "not ready-to-eat" and is supplied directly to factories for further processing and conversion into finished products. The remaining 30% is supplied to food brokers and traders in the international market. The company's products include gherkins, baby corn, jalapenos, and other pickled vegetables.

As of March 31, 2024, the company processes and exports pickled vegetables in 3 different packaging categories. The details of the 3 packaging categories: 1) Industrial packaging in food grade drums and pails; 2) Food packaging in plastic buckets and tin cans; and 3) Retail packaging in glass jars and tin cans.

The company is accredited by a number of leading organizations, including the Food Safety and Standards Authority of India (FSSAI), the United States Food & Drug Administration (FDA), Star-K Kosher, Agricultural and Processed Food Products Export Development Authority (APEDA), International Featured Standards, Brand Reputation through Compliance Global Standard (BRCGS).

Competitive strengths:

  • Good relationships with contract farmers and other suppliers ensure the availability of raw materials in the off-season
  • Supporting an efficient supply chain enables the company to maintain long-term and intensive customer relationships
  • Quality assurance and control of product quality, which has earned the company various awards and accreditations
  • Advanced in-house processing facilities with a focus on cost competitiveness
  • A comprehensive product portfolio that enables the company to serve its customers around the world
  • Proven financial performance and a scalable business model
  • Experienced promoter and management team

As of September 30, 2024, the company had a total of 135 employees.

Company Financials

Freshara Agro Exports Limited Financial Information (Restated)

Freshara Agro Exports Limited's revenue increased by 56% and profit after tax (PAT) rose by 140% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended30 Sep 202431 Mar 202431 Mar 202331 Mar 2022
Assets16,599.7316,657.88,490.645,887.64
Revenue10,746.1119,819.5812,700.2211,840.68
Profit After Tax1,137.812,182.41908.297.36
Net Worth3,834.582,696.771,855.49931.58
Reserves and Surplus2,134.58996.77
Total Borrowing10,625.2210,755.984,173.893,479.1
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Freshara Agro Exports IPO is Rs 272.59 Cr.

KPI as of September 30, 2024.

KPI Values
ROCE12.31%
Debt/Equity2.77
RoNW29.67%
P/BV7.31
PAT Margin (%)10.98
Pre IPO Post IPO
EPS (Rs) 12.849.68
P/E (x) 9.0411.98
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.

Objects of the Issue (Freshara Agro Exports IPO Objectives)

The Company proposes to utilize the funds which are being raised towards funding the following objects:

  1. To meet the Capital Expenditure;
  2. Funding the working capital requirements of the company;
  3. To meet the General Corporate Purposes; and
  4. To meet the Issue Expenses.

Freshara Agro Exports IPO Review (May apply)

[Dilip Davda]  The company is 100% EOU for agro products that are mainly used for pickles in global markets. It specialized in Gherkin and other pickled vegetables. The sudden boost in margins from FY23 onwards raises eyebrows. Its debt equity ratio of 2.77 as of September 30, 2024 remains major concern. Well-informed investors may park moderate funds for medium to long term. Read detail review...


Freshara Agro Exports IPO Subscription Status (Bidding Detail)

The Freshara Agro Exports IPO is subscribed 236.80 times on October 21, 2024 6:19:59 PM. The public issue subscribed 180.80 times in the retail category, 129.22 times in the QIB category, and 510.61 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB129.22
NII510.61
Retail180.80
Total236.80

Total Application : 310,259 (180.80 times)

Please note: The financial data for March 31, 2024, is taken from the "For the period January 24 to March 31, 2024" column in the RHP.

Freshara Agro Exports IPO Prospectus

Freshara Agro Exports IPO Rating

7
3.1
Rating:Rated 3.1 stars
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Freshara Agro Exports IPO Listing Details

Listing Date October 24, 2024
BSE Script Code
NSE Symbol FRESHARA
ISIN INE0SFW01015
Final Issue Price ₹116 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
NSE SME
₹116.00
₹135.00
₹128.25
₹141.00
₹134.70

Check IPO Performance…

Freshara Agro Exports Limited Contact Details

Freshara Agro Exports Limited
Old No.3, New No.9,
Puram Prakasam Road, Balaji Nagar,
Royapettah, Chennai - 600014
Phone: +91 44 4357 0138
Email: cs@fresharaagroexports.com
Website: https://fresharaagroexports.com/

Freshara Agro Exports IPO Registrar

Purva Sharegistry India Pvt Ltd

Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query

Freshara Agro Exports IPO - Buy or Not

Freshara Agro Exports IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 0 0 0

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Freshara Agro Exports IPO FAQs

Freshara Agro Exports IPO is a SME IPO of 6,499,200 equity shares of the face value of ₹10 aggregating up to ₹75.39 Crores. The issue is priced at ₹110 to ₹116 per share. The minimum order quantity is 1200 Shares.

The IPO opens on October 17, 2024, and closes on October 21, 2024.

Purva Sharegistry India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Zerodha customers can apply online in Freshara Agro Exports IPO using UPI as a payment gateway. Zerodha customers can apply in Freshara Agro Exports IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Freshara Agro Exports IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Freshara Agro Exports IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Freshara Agro Exports IPO opens on October 17, 2024 and closes on October 21, 2024.

Freshara Agro Exports IPO lot size is 1200 Shares, and the minimum amount required is ₹139,200.

You can apply in Freshara Agro Exports 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 Freshara Agro Exports IPO will be done on Tuesday, October 22, 2024, and the allotted shares will be credited to your demat account by Wednesday, October 23, 2024. Check the Freshara Agro Exports IPO allotment status.

The Freshara Agro Exports IPO listing date is on October 24, 2024.
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