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M.V.K. Agro Food Product Ltd IPO (M.V.K. Agro Food IPO) Detail

February 29, 2024 - March 4, 2024

M.V.K. Agro Food IPO is a fixed price issue of Rs 65.88 crores. The issue is entirely a fresh issue of 54.9 lakh shares.

M.V.K. Agro Food IPO bidding started from February 29, 2024 and ended on March 4, 2024. The allotment for M.V.K. Agro Food IPO was finalized on Tuesday, March 5, 2024. The shares got listed on NSE SME on March 7, 2024.

M.V.K. Agro Food IPO price is ₹120 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹288,000.

Horizon Management Private Limited is the book running lead manager of the M.V.K. Agro Food IPO, while Mas Services Limited is the registrar for the issue. The market maker for M.V.K. Agro Food IPO is Nikunj Stock Brokers.

Refer to M.V.K. Agro Food IPO RHP for detailed information.

M.V.K. Agro Food IPO Details

IPO Date February 29, 2024 to March 4, 2024
Listing Date March 7, 2024
Face Value ₹10 per share
Price ₹120 per share
Lot Size 1200 Shares
Total Issue Size5,490,000 shares
(aggregating up to ₹65.88 Cr)
Fresh Issue5,490,000 shares
(aggregating up to ₹65.88 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Share holding pre issue10,000,000
Share holding post issue15,490,000
Market Maker portion274,800 shares
Nikunj Stock Brokers

M.V.K. Agro Food IPO Reservation

M.V.K. Agro Food IPO offers 5,490,000 shares. 2,607,600 (47.50%) to NII, 2,607,600 (47.50%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered274,800 (5.01%)
Other Shares Offered2,607,600 (47.50%)
Retail Shares Offered2,607,600 (47.50%)
Total Shares Offered5,490,000 (100%)

M.V.K. Agro Food IPO Timeline (Tentative Schedule)

M.V.K. Agro Food IPO opens on February 29, 2024, and closes on March 4, 2024.

IPO Open Date Thursday, February 29, 2024
IPO Close Date Monday, March 4, 2024
Basis of Allotment Tuesday, March 5, 2024
Initiation of Refunds Wednesday, March 6, 2024
Credit of Shares to Demat Wednesday, March 6, 2024
Listing Date Thursday, March 7, 2024
Cut-off time for UPI mandate confirmation 5 PM on March 4, 2024

M.V.K. Agro Food 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 ₹144,000
Retail (Max) 1 1200 ₹144,000
HNI (Min) 2 2,400 ₹288,000
Lot Size Calculator

M.V.K. Agro Food IPO Promoter Holding

The promoters of the company are Marotrao Vyankatrao Kawale, Sagarbai Marotrao Kawale, Ganeshrao Vyankatrao Kawale, Kishanrao Vyankatarao Kawale and Sandip Marotrao Kawale

Share Holding Pre Issue 100.00%
Share Holding Post Issue 64.56%

About M.V.K. Agro Food Product Ltd

Incorporated in February 2018, MVK Agro Food Product Limited is a manufacturer of integrated sugar and other related products. The company has a licensed crushing capacity of 2,500 TCD and sells its by-products, Molasses, Bagasse, and Pressmud. 

The company sells its products through brokers who, in turn, sell to export houses such as PepsiCo Holdings India Private Limited, Parle Biscuits Private Limited and Britannia Industries Limited. In addition to selling its products to brokers, the company also supplies commodities to export-oriented traders like Sakuma Exports Limited, Indian Sugar Exim Corporation, Garden Court, and HRMM Agro Overseas Private Limited.

The company operates a zero-waste manufacturing facility. Waste generated is either sold or used to generate power.

The revenues from operations for the six months ended September 30, 2023, and the fiscal years 2023, 2022, and 2021 were ₹6,012.52 lakhs, ₹9,327.65 lakhs, ₹13,067.11 lakhs, and ₹2,283.40 lakhs, respectively.

The company's manufacturing facility is located in Nanded District, Maharashtra.

As of September 2023, the company has 160 employees across various departments.

M.V.K. Agro Food Product Ltd Financial Information (Restated)

M.V.K. Agro Food Product Ltd's revenue decreased by -29.18% and profit after tax (PAT) rose by 18.02% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets14,804.0515,471.9311,602.0611,445.70
Revenue6,044.369,393.6313,263.562,583.10
Profit After Tax430.07377.45319.81140.41
Net Worth1,767.741,337.67960.22640.41
Reserves and Surplus1,267.74837.67460.22140.41
Total Borrowing6,281.239,156.106,001.327,496.33
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of M.V.K. Agro Food IPO is Rs 185.88 Cr.

KPI as of March 31, 2023.

KPI Values
ROE32.85%
ROCE13.44%
Debt/Equity6.84
RoNW32.85%
P/BV4.49
PAT Margin (%)4.02
Pre IPO Post IPO
EPS (Rs) 3.775.55
P/E (x) 31.7921.61
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, 2023 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.

Objects of the Issue (M.V.K. Agro Food IPO Objectives)

The company proposes to utilize the Net Proceeds from the Issue towards the following objects:

  1. Setting up a greenfield unit in Nanded, Maharashtra for (i) manufacturing Ethanol and (ii) generation and bottling of Bio-CNG and Fertilizer.
  2. General corporate purposes.

M.V.K. Agro Food IPO Review (May apply)

[Dilip Davda]  The company is primarily in sugar productions and has few other by-products. It is adding ethanol plant to tap the rising demand for this by-product. The company marked inconsistency in its top and bottom lines for the reported periods. Based on its FY24 annualized super earnings, the issue appears aggressively priced. Well-informed/cash surplus investors may park funds for the medium to long term rewards. Read detail review...


M.V.K. Agro Food IPO Subscription Status (Bidding Detail)

The M.V.K. Agro Food IPO is subscribed 8.46 times on March 4, 2024 6:21:00 PM. The public issue subscribed 13.01 times in the retail category, times in the QIB category, and 3.90 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
Other3.90
Retail13.01
Total8.46

Total Application : 28,268 (13.01 times)

M.V.K. Agro Food IPO Prospectus

M.V.K. Agro Food IPO Rating

5
4.2
Rating:Rated 4.2 stars
Vote Here ...

M.V.K. Agro Food IPO Listing Details

Listing Date March 7, 2024
BSE Script Code
NSE Symbol MVKAGRO
ISIN INE0SGC01015
Final Issue Price ₹120 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
NSE SME
₹120.00
₹79.00
₹75.05
₹82.95
₹82.95

Check IPO Performance…

M.V.K. Agro Food Product Ltd Contact Details

M.V.K. Agro Food Product Ltd
GUT No. 44 and 46
Kusumnagar, At Post
Waghalwada, Umari, Nanded – 431 807
Phone: +91 862 309 4480
Email: info@mvkagrofood.com
Website: https://mvkagrofood.com/

M.V.K. Agro Food IPO Registrar

Mas Services Limited

Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp

M.V.K. Agro Food IPO - Buy or Not

M.V.K. Agro Food IPO Recommendation Summary

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

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M.V.K. Agro Food IPO FAQs

M.V.K. Agro Food IPO is a SME IPO of 5,490,000 equity shares of the face value of ₹10 aggregating up to ₹65.88 Crores. The issue is priced at ₹120 per share. The minimum order quantity is 1200 Shares.

The IPO opens on February 29, 2024, and closes on March 4, 2024.

Mas Services Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

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

Steps to apply in M.V.K. Agro Food 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 'M.V.K. Agro Food 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 M.V.K. Agro Food IPO opens on February 29, 2024 and closes on March 4, 2024.

M.V.K. Agro Food IPO lot size is 1200 Shares, and the minimum amount required is ₹144,000.

You can apply in M.V.K. Agro Food 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 M.V.K. Agro Food IPO will be done on Tuesday, March 5, 2024, and the allotted shares will be credited to your demat account by Wednesday, March 6, 2024. Check the M.V.K. Agro Food IPO allotment status.

The M.V.K. Agro Food IPO listing date is on March 7, 2024.
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M.V.K. Agro Food IPO Message Board

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126 Comments

61. Value.Investor |   Link |  Bookmark |March 27, 2024 11:35:04 PM
GMP has inuously on downward trend
60. Ipokanasugara |   Link |  Bookmark |March 11, 2024 11:51:04 AM
Dear experts ,
Unfortunately I got alloted with 1 retail. Already 30 percent down listing! . Please guide me what to do now? Should I exit or hold? If hold , how long need to be waited to exit with some profit?
60.1. IPONEED |   Link |  Bookmark |March 11, 2024 12:43:13 PM
IPO Guru IPO Guru (2100+ Posts, 1100+ Likes)
phle to ye ki forum ke members ne avoid bola tha apply krne ke liy phir bhi aapne apply kiya ab jo ho gya so gya ,kyoki itne loss me exit hone ke bad bhut dukh bhi hota h or abhi to selling pressure bhi bhut aayega NII ki taraf se

agar koi upmove aaye to nikal jane m hi fayda he kyoki after 10 days trading season isme satta suru ho jayega
59. Jonsnow |   Link |  Bookmark |March 11, 2024 10:15:55 AM (300+ Posts)
Any expert who can guide on yudiz solutions??...160 se 90 ho geya 2 weeks mein
58. IPOmentor |   Link |  Bookmark |March 8, 2024 11:35:41 AM
Debt to equity ratio is more then 6 its dangerous sign. stay away it will available @50 later on
57. ARJUN'S EYE |   Link |  Bookmark |March 7, 2024 8:35:15 AM
IPO Mentor IPO Mentor (800+ Posts, 600+ Likes)
M.V.K. Agro Food Product Ltd NSE SME IPO.
NSE Code:-22979                  
Symbol:-MVKAGRO
Group:-ST
ISIN:-INE0SGC01015      
Issue Price:-120/-
Market Lot:-1200 Shares
Face Value:-10/-
Listing At:-NSE SME
57.1. Smile✍️ |   Link |  Bookmark |March 7, 2024 8:49:11 AM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Perfect example never Chase any SME be cautious while applying
57.2. ARJUN'S EYE |   Link |  Bookmark |March 7, 2024 4:23:29 PM
IPO Mentor IPO Mentor (800+ Posts, 600+ Likes)
@Smile✍️ 
बिल्कुल सही हे सर जी.....
56. SOAM |   Link |  Bookmark |March 7, 2024 12:17:50 PM
Top Contributor Top Contributor (700+ Posts, 100+ Likes)
Iss script ne toh dhoti phad ke rumal kar di. Probably one of the highest listing loss in recent times.
55. Kiaan |   Link |  Bookmark |March 7, 2024 9:28:43 AM
Top Contributor Top Contributor (500+ Posts, 200+ Likes)
Leaving aside the operators, even the investors put their order at LC.
55.1. ManishDwiv |   Link |  Bookmark |March 7, 2024 11:38:40 AM
Top Contributor Top Contributor (500+ Posts, 200+ Likes)
They must have sold their application in grey.
54. ipo share |   Link |  Bookmark |March 7, 2024 10:43:30 AM
IPO Guru IPO Guru (1500+ Posts, 700+ Likes)
Congratulations to Horizon, the great LM for hatric of negative listings and 100% negative record. May be, it is the only LM with such dubious record.
53. ipo share |   Link |  Bookmark |March 7, 2024 10:33:00 AM
IPO Guru IPO Guru (1500+ Posts, 700+ Likes)
Saved capital by ignoring this junk IPO and its LM horizon.
Surprised to see that it managed so badly and dared to bring another IPO shortly.
I don't know how investors are going to react to Shree Karni with huge GMP (although Mukka has again proved that it's not GMP but LM that matters most).
52. IPOFreak |   Link |  Bookmark |March 7, 2024 9:50:13 AM
LM Horizon successfully maintained its track record of discount listings, surpassed Fedex and Righav..
52.1. Abhii VPG |   Link |  Bookmark |March 7, 2024 10:04:27 AM
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
Discount listing, that too around 34%, not even 5-10%
51. StarGarage |   Link |  Bookmark |March 7, 2024 9:23:27 AM
IPO Mentor IPO Mentor (500+ Posts, 200+ Likes)
Is this the worst listing for Any SME IPO? Was there any other SME IPO which listed even lower?
50. IPO Gyaaan |   Link |  Bookmark |March 7, 2024 9:19:51 AM (200+ Posts)
This kind of listing was required to remove the greed which started to kick in after so much of listing gains in any IPO.
49. Mr. Agrawal |   Link |  Bookmark |March 7, 2024 9:04:01 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
I am surprised..!! Out of 54 lakh only 1.5 lakh something traded in pre open .. people are showing great patience here. .. no LC orders in panic instead it's at UC
48. G profit |   Link |  Bookmark |March 7, 2024 9:01:29 AM
IPO Mentor IPO Mentor (1000+ Posts, 300+ Likes)
30% loss for investors on listing. One of the worst listings in recent
47. Paymzia |   Link |  Bookmark |March 7, 2024 8:49:52 AM
IPO Guru IPO Guru (2400+ Posts, 4500+ Likes)
Who are not applied , and who are not get allotted those are happy
46. BLUE WHALE |   Link |  Bookmark |March 6, 2024 11:12:28 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
FLAT listing and than LC
46.1. Vikajay |   Link |  Bookmark |March 7, 2024 7:21:01 AM (200+ Posts)
Market will be up today. So may give chance for exit.
45. GrayIsTheNewBlack |   Link |  Bookmark |March 6, 2024 9:36:15 PM
IPO Guru IPO Guru (2200+ Posts, 1400+ Likes)
Thakur, yo to gayo kal ...
44. Arjun Rajkot |   Link |  Bookmark |March 6, 2024 2:13:57 PM
IPO Guru IPO Guru (1000+ Posts, 1900+ Likes)
Discount Lisitng
44.1. Arjun Rajkot |   Link |  Bookmark |March 7, 2024 9:12:10 AM
IPO Guru IPO Guru (1000+ Posts, 1900+ Likes)
Pathetic
44.2. RAJ ARYA |   Link |  Bookmark |March 8, 2024 4:21:12 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
@Arjun Rajkot Sir RK swamy me kya hoga , listing positive or negative please guide 🙏
43. Dhiraj Ramchandani |   Link |  Bookmark |March 6, 2024 7:34:43 AM
IPO Guru IPO Guru (1100+ Posts, 600+ Likes)
0/3 retail applications for me. This mean it will list positive, congratulations to all allottees 👍🏼👍🏼
43.1. Modi Adani |   Link |  Bookmark |March 8, 2024 11:21:49 AM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Congratulations @Dhiraj Ramchandani Bach gaye.. agar 3/3 hota to 1 lot ka paisa 🐟 6apak ho jata 🤣
43.2. Dhiraj Ramchandani |   Link |  Bookmark |March 9, 2024 7:50:43 PM
IPO Guru IPO Guru (1100+ Posts, 600+ Likes)
Exactly @Modi Adani, ek lot toh gaya hi tha phir.. But I was still not convinced with this getting such a negative listing. Maybe, it was more due to market conditions, warna itna bura bhi nahi tha ye
42. Investors Briefing RKS |   Link |  Bookmark |March 6, 2024 12:53:32 AM
0/2 in retail
Hope this stock should not meet the same fortune as it happened to allottees of Italian Edibles.