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Proventus Agrocom IPO is a fixed price issue of Rs 69.54 crores. The issue is a combination of fresh issue of 6.72 lakh shares aggregating to Rs 51.79 crores and offer for sale of 2.3 lakh shares aggregating to Rs 17.74 crores.
Proventus Agrocom IPO bidding started from May 24, 2023 and ended on May 26, 2023. The allotment for Proventus Agrocom IPO was finalized on Wednesday, May 31, 2023. The shares got listed on NSE SME on June 5, 2023.
Proventus Agrocom IPO price is ₹771 per share. The minimum lot size for an application is 160 Shares. The minimum amount of investment required by retail investors is ₹123,360. The minimum lot size investment for HNI is 2 lots (320 shares) amounting to ₹246,720.
Sundae Capital Advisors is the book running lead manager of the Proventus Agrocom IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Proventus Agrocom IPO is Ajcon Global Services.
Refer to Proventus Agrocom IPO RHP for detailed information.
| IPO Date | May 24, 2023 to May 26, 2023 |
| Listing Date | June 5, 2023 |
| Face Value | ₹10 per share |
| Price | ₹771 per share |
| Lot Size | 160 Shares |
| Total Issue Size | 901,920 shares (aggregating up to ₹69.54 Cr) |
| Fresh Issue | 671,773 shares (aggregating up to ₹51.79 Cr) |
| Offer for Sale | 230,147 shares of ₹10 (aggregating up to ₹17.74 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 2,755,768 |
| Share holding post issue | 3,427,541 |
| Market Maker portion | 45,100 shares Ajcon Global Services |
Proventus Agrocom IPO offers 901,980 shares. 428,430 (47.50%) to NII, 428,450 (47.50%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 45,100 (5.00%) |
| Other Shares Offered | 428,430 (47.50%) |
| Retail Shares Offered | 428,450 (47.50%) |
| Total Shares Offered | 901,980 (100%) |
Proventus Agrocom IPO opens on May 24, 2023, and closes on May 26, 2023.
| IPO Open Date | Wednesday, May 24, 2023 |
| IPO Close Date | Friday, May 26, 2023 |
| Basis of Allotment | Wednesday, May 31, 2023 |
| Initiation of Refunds | Thursday, June 1, 2023 |
| Credit of Shares to Demat | Friday, June 2, 2023 |
| Listing Date | Monday, June 5, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 26, 2023 |
Investors can bid for a minimum of 160 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 | 160 | ₹123,360 |
| Retail (Max) | 1 | 160 | ₹123,360 |
| HNI (Min) | 2 | 320 | ₹246,720 |
| Lot Size Calculator | |||
Durga Prasad Jhawar, Deepak Kumar Agrawal, Shalin Sanjiv Khanna, and Shree JMD Investment Advisors LLP are the Promoters of the Company.
| Share Holding Pre Issue | 92.29% |
| Share Holding Post Issue | 70.84% |
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:
The Group Proventus Agrochem Limited operates through its Material Subsidiaries like Prov Foods Private Limited, and Proventus Retail Private Limited.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 8,936.94 | 90,089.01 | -2,190.46 | 5,663.58 | 4,731.01 | 1,728.54 |
| 31-Mar-21 | 8,843.36 | 30,173.92 | 187.90 | 5,844.50 | 4,911.92 | 2,940.72 |
| 31-Mar-22 | 10,131.13 | 40,434.57 | 114.03 | 5,966.75 | 5,034.17 | 3,444.05 |
| 31-Dec-22 | 9,735.37 | 31,909.63 | 189.82 | 6,167.31 | 5,234.74 | 3,061.13 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Proventus Agrocom IPO is Rs 264.27 Cr.
| KPI | Values |
|---|---|
| ROE | 0.04% |
| ROCE | 0.05% |
| Debt/Equity | 0.56 |
| RoNW | 3.08% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.14 | |
| P/E (x) | 186.23 |
The company proposes to utilize the Net Proceeds towards funding the following objectives:
[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...
The Proventus Agrocom IPO is subscribed 2.70 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 4.65 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 4.65 |
| Retail | 0.74 |
| Total | 2.70 |
Total Application : 1,993 (0.74 times)
| Listing Date | June 5, 2023 |
| BSE Script Code | |
| NSE Symbol | PROV |
| ISIN | INE0ONE01016 |
| Final Issue Price | ₹771 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹771.00 |
| ₹821.00 |
| ₹821.00 |
| ₹862.05 |
| ₹862.05 |
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/
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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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
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 amount required is ₹123,360.
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, May 31, 2023, and the allotted shares will be credited to your demat account by Friday, June 2, 2023. Check the Proventus Agrocom IPO allotment status.
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