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Italian Edibles IPO is a fixed price issue of Rs 26.66 crores. The issue is entirely a fresh issue of 39.2 lakh shares.
Italian Edibles IPO bidding started from February 2, 2024 and ended on February 7, 2024. The allotment for Italian Edibles IPO was finalized on Thursday, February 8, 2024. The shares got listed on NSE SME on February 12, 2024.
Italian Edibles IPO price is ₹68 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹136,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹272,000.
First Overseas Capital Limited is the book running lead manager of the Italian Edibles IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Italian Edibles IPO is Nikunj Stock Brokers.
Refer to Italian Edibles IPO RHP for detailed information.
| IPO Date | February 2, 2024 to February 7, 2024 |
| Listing Date | February 12, 2024 |
| Face Value | ₹10 per share |
| Price | ₹68 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 3,920,000 shares (aggregating up to ₹26.66 Cr) |
| Fresh Issue | 3,920,000 shares (aggregating up to ₹26.66 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 10,857,151 |
| Share holding post issue | 14,777,151 |
| Market Maker portion | 200,000 shares Nikunj Stock Brokers |
Italian Edibles IPO offers 3,920,000 shares. 1,860,000 (47.45%) to NII, 1,860,000 (47.45%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 200,000 (5.10%) |
| Other Shares Offered | 1,860,000 (47.45%) |
| Retail Shares Offered | 1,860,000 (47.45%) |
| Total Shares Offered | 3,920,000 (100%) |
Italian Edibles IPO opens on February 2, 2024, and closes on February 7, 2024.
| IPO Open Date | Friday, February 2, 2024 |
| IPO Close Date | Wednesday, February 7, 2024 |
| Basis of Allotment | Thursday, February 8, 2024 |
| Initiation of Refunds | Friday, February 9, 2024 |
| Credit of Shares to Demat | Friday, February 9, 2024 |
| Listing Date | Monday, February 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 7, 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 | ₹136,000 |
| Retail (Max) | 1 | 2000 | ₹136,000 |
| HNI (Min) | 2 | 4,000 | ₹272,000 |
| Lot Size Calculator | |||
Mr. Ajay Makhija and Mr. Akshay Makhija are the promoters of the company.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.47% |
Founded in 2009, Italian Edibles Limited offers a wide range of confectionery products such as Rabdi [Meethai Sweet], milk paste, chocolate paste, lollipops, candies, jelly sweets, multigrain puffed buns, and fruit-based products under its OfCour's brand.
The company has two manufacturing facilities at Gram Palda, Indore and Prabhu Toll Kanta, Indore (Madhya Pradesh).
Italian Edibles is present all over India, especially in the rural and semi-urban areas of Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Kerela, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand and West Bengal. The company also exports its products to various countries such as Nigeria, Yemen, Sinegal, and Sudan.
As of August 31, 2023, the Company's customer list includes Chocolate World, Yuvraj Agency, Bakewell Biscuits Private Limited, R. K. Prabhavati Tarders, Mamta Stores, Ma Laxmi Traders, Suria Distributor, etc. In addition, one of its products, namely Jelly Candies, is sold to Dharpal Premchand Ltd (BABA) Group.
The company has a dedicated sales and marketing team consisting of 15 employees.
Italian Edibles Limited's revenue decreased by -16.1% and profit after tax (PAT) rose by 229.4% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Aug 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 4,824.64 | 4,155.24 | 3,905.45 | 3,946.43 |
| Revenue | 3,052.16 | 6,330.09 | 7,545.25 | 4,899.44 |
| Profit After Tax | 209.68 | 264.21 | 80.21 | 86.52 |
| Net Worth | 1,287.92 | 1,078.24 | 814.03 | 583.82 |
| Reserves and Surplus | 202.21 | 906.82 | 642.60 | 433.82 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Italian Edibles IPO is Rs 100.48 Cr.
| KPI | Values |
|---|---|
| ROE | 24.50% |
| ROCE | 19.32% |
| Debt/Equity | 1.6 |
| RoNW | 24.50% |
| P/BV | 1.08 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.43 | 3.41 |
| P/E (x) | 27.94 | 19.97 |
The Net Proceeds from the Issue are proposed to be utilized by the company for the following objects:
[Dilip Davda] The company is in the business of confectioneries and other food items. It posted inconsistency in its top line and a surprising boost in bottom lines from FY23 onwards. Based on annualized super earnings for FY24, the issue appears fully priced. Recent performance appears to have been cooked up. The company is operating in a highly competitive and fragmented segment. There is no harm in skipping this issue. Read detail review...
The Italian Edibles IPO is subscribed 154.43 times on February 7, 2024 7:30:00 PM. The public issue subscribed 120.62 times in the retail category, times in the QIB category, and 177.37 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 177.37 |
| Retail | 120.62 |
| Total | 154.43 |
Total Application : 112,178 (120.62 times)
| Listing Date | February 12, 2024 |
| BSE Script Code | |
| NSE Symbol | ITALIANE |
| ISIN | INE0R7R01018 |
| Final Issue Price | ₹68 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹68.00 |
| ₹55.00 |
| ₹52.25 |
| ₹57.75 |
| ₹57.75 |
Italian Edibles Limited
309/1/1/8 Block No.03,
Mangal Udhyog Nagar, Gram Palda,
Indore - 452020
Phone: +91 9826298268
Email: italian_edibles@yahoo.com
Website: https://www.ofcoursegroup.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Check our SME IPO Guide 
Italian Edibles IPO is a SME IPO of 3,920,000 equity shares of the face value of ₹10 aggregating up to ₹26.66 Crores. The issue is priced at ₹68 per share. The minimum order quantity is 2000 Shares.
The IPO opens on February 2, 2024, and closes on February 7, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Italian Edibles IPO using UPI as a payment gateway. Zerodha customers can apply in Italian Edibles IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Italian Edibles IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Italian Edibles IPO opens on February 2, 2024 and closes on February 7, 2024.
Italian Edibles IPO lot size is 2000 Shares, and the minimum amount required is ₹136,000.
You can apply in Italian Edibles 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 Italian Edibles IPO will be done on Thursday, February 8, 2024, and the allotted shares will be credited to your demat account by Friday, February 9, 2024. Check the Italian Edibles IPO allotment status.
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