Proventus Agrocom Limited IPO (Proventus Agrocom IPO) Detail

May 24, 2023 - May 26, 2023

Incorporated in 2015, Proventus Agrochem Limited is an integrated health food brand. The company has its presence in the entire range of dry fruits, nuts, seeds, and berries. The product of company also includes various healthy snacking products across the value chain.

The motto of Proventus is to create expertise in healthy food products. They strive at building the revenue stream by moving across the value chain from origination to distribution and creating an integrated business model - from "farm to homes".

The company is attempting to fill the vacuum in the healthy snacking range in the Indian market, especially in the dry fruits, nuts, seeds, and berries category.

The products of the company are marketed under the brand - "ProV".

The product range of Proventus Agrochem Limited includes Nuts, Dry Fruits, Seeds, and Berries like:

  • Almonds
  • Pistachios
  • Cashews
  • Walnuts
  • Raisins
  • Other Nuts, Dry Fruits, Seeds and Berries

The Group Proventus Agrochem Limited operates through its Material Subsidiaries like Prov Foods Private Limited, and Proventus Retail Private Limited.

Proventus Agrocom IPO Details

IPO Date May 24, 2023 to May 26, 2023
Listing Date [.]
Face Value ₹10 per share
Price ₹771 per share
Lot Size 160 Shares
Total Issue Size901,920 shares
(aggregating up to ₹69.54 Cr)
Fresh Issue671,773 shares
(aggregating up to ₹51.79 Cr)
Offer for Sale230,147 shares of ₹10
(aggregating up to ₹17.74 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Share holding pre issue2,755,768
Share holding post issue3,427,541
Market Maker portion45,120 shares (Ajcon Global Services)

Proventus Agrocom IPO Reservation

Other Shares Offered473,550 (52.50%)
Retail Shares Offered428,450 (47.50%)
Total Shares Offered902,000


  1. Market Maker portion of 45,120 equity shares is added to NII Reservation.
  2. Total Shares offered: QIB+NII+RII.

Proventus Agrocom IPO Timetable (Tentative)

Proventus Agrocom IPO opens on May 24, 2023, and closes on May 26, 2023.

Event Tentative Date
Opening Date Wednesday, 24 May 2023
Closing Date Friday, 26 May 2023
Basis of Allotment Wednesday, 31 May 2023
Initiation of Refunds Thursday, 1 June 2023
Credit of Shares to Demat Friday, 2 June 2023
Listing Date Monday, 5 June 2023
Cut-off time for UPI mandate confirmation 5 PM on May 26, 2023

Proventus Agrocom IPO Lot Size

The Proventus Agrocom IPO lot size is 160 shares.

Application Lots Shares Amount
Retail (Min) 1 160 ₹123,360
Retail (Max) 1 160 ₹123,360
HNI (Min) 2 320 ₹246,720
Lot Size Calculator

Proventus Agrocom IPO Promoter Holding

Durga Prasad Jhawar, Deepak Kumar Agrawal, Shalin Sanjiv Khanna, and Shree JMD Investment Advisors LLP are the Promoters of the Company.

Pre Issue Share Holding 92.29%
Post Issue Share Holding 70.84%

Company Financials

Proventus Agrochem Limited Financial Information (Restated Consolidated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
Amount in ₹ Lakhs

Key Performance Indicator

KPI Values
P/E (x)186.23
Market Cap (₹ Cr.)264.27
EPS (Rs)4.14
RoNW (%)3.08

Objects of the Issue

The company proposes to utilize the Net Proceeds towards funding the following objectives:

  1. Funding working capital requirements of the Company;
  2. Funding working capital requirements of the material subsidiary namely, Prov Foods Private Limited;
  3. General Corporate Purposes.

Proventus Agrocom IPO Review (Avoid)

[Dilip Davda]  The company operates in a highly competitive and fragmented segment with many big players around. Its recent performance marked inconsistency in its top and bottom lines. Based on FY23 earnings, the issue appears aggressively priced. Post-IPO, tiny paid-up equity capital also indicates longer gestation for migration to the mainboard. There is no harm in skipping this pricey bet. Read detail review...

Proventus Agrocom IPO Subscription Status (Bidding Detail)

The Proventus Agrocom IPO is subscribed 2.61 times on May 26, 2023 7:29:00 PM. The public issue subscribed 0.74 times in the retail category, times in the QIB category, and 4.30 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

Total Application : 1,993 (0.74 times)

Proventus Agrocom IPO Prospectus

Proventus Agrocom IPO Rating

Rating:Rated 2.7 stars
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Company Contact Information

Proventus Agrocom Limited
Unit 515, 5th Floor, C Wing, 1 MTR Cabin, Atrium,
Village Mulgaon, MV Road, Andheri (East),
Near Acme Plaza, Mumbai - 400 069
Phone: +91 22 6211 0900
Email: cs@proventusagro.com
Website: http://www.proventusagro.com/

Proventus Agrocom IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/

Proventus Agrocom IPO Analysis

Proventus Agrocom IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 2

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Proventus Agrocom IPO FAQs

Proventus Agrocom IPO is a SME IPO of 901,920 equity shares of the face value of ₹10 aggregating up to ₹69.54 Crores. The issue is priced at ₹771 per share. The minimum order quantity is 160 Shares.

The IPO opens on May 24, 2023, and closes on May 26, 2023.

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

Steps to apply in Proventus Agrocom 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 'Proventus Agrocom 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 Proventus Agrocom IPO opens on May 24, 2023 and closes on May 26, 2023.

Proventus Agrocom IPO lot size is 160 Shares and the minimum order quantity is .

You can apply in Proventus Agrocom 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 Proventus Agrocom IPO will be done on Wednesday, 31 May 2023, and the allotted shares will be credited to your demat account by Friday, 2 June 2023. Check the Proventus Agrocom IPO allotment status.

The Proventus Agrocom IPO listing date is not yet announced. The tentative date of Proventus Agrocom IPO listing is Monday, 5 June 2023.
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