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Shri Venkatesh Refineries Limited IPO (Shri Venkatesh Refineries IPO) Detail

Sep 29, 2021 - Oct 1, 2021

Incorporated in 2003, Shri Venkatesh Refineries is one of the growing edible oil refining companies in Maharashtra under the brand name, Rich Soya. It primarily undertakes refining and preservation of Edible oils (Soyabean oil and cotton seed oil) and has a total refining capacity of 36000 tons. It is further engaged in the trading activities of soyabean oil, palm oil, cotton seed oil, and sunflower oil. The company aims to create "Rich Soya" a leading edible oil brand name by serving quality edible oil at an affordable price.

The company has a manufacturing facility located at Jalgaon, Maharashtra with a total storing capacity of 6000 MT.

Competitive strengths

  • "Rich Soya" is a strong brand name in the edible oil industry.
  • Best quality edible oil products.
  • Established distribution network with 140+ dealers and distributors across the state of Maharashtra.
  • Experienced and quality management team.

Company Financials

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in Millions)
31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 934.06 672.55 491.11
Total Revenue 3,369.93 2,355.17 2,269.88
Profit After Tax 35.08 22.07 12.60

Objects of the Issue

The net proceed from the IPO will be utilized towards the following purposes;

  • Meet working capital requirements.
  • General corporate puropses.
  • To meet issue expenditures.

Shri Venkatesh Refineries IPO Details

Shri Venkatesh Refineries IPO Date Sep 29, 2021 to Oct 1, 2021
Shri Venkatesh Refineries IPO Face Value ₹10 per share
Shri Venkatesh Refineries IPO Price ₹40 per share
Shri Venkatesh Refineries IPO Lot Size 3000 Shares
Issue Size2,928,000 shares of ₹10
(aggregating up to ₹11.71 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Company Promoters

Mr. Dinesh Ganapati Kabre, Mr. Anil Ganapati Kabre, Mr. Shantanu Ramesh Kabre and Mr. Prasad Dinesh Kabre are the company promoters.

Shri Venkatesh Refineries IPO Timeline (Tentative Timetable)

Shri Venkatesh Refineries IPO opens on Sep 29, 2021, and closes on Oct 1, 2021. The Shri Venkatesh Refineries IPO bid date is from Sep 29, 2021 10.00 A.M. to Oct 1, 2021 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Date
Shri Venkatesh Refineries IPO Opening Date Sep 29, 2021
Shri Venkatesh Refineries IPO Closing Date Oct 1, 2021
Basis of Allotment Oct 6, 2021
Initiation of Refunds Oct 8, 2021
Credit of Shares to Demat Oct 8, 2021
Shri Venkatesh Refineries IPO Listing Date Oct 11, 2021

Shri Venkatesh Refineries IPO Lot Size

The Shri Venkatesh Refineries IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120,000).

Application Lots Shares Amount
Retail (Min) 1 3000 ₹120,000
Retail (Max) 1 3000 ₹120,000

Shri Venkatesh Refineries IPO Promoter Holding

Pre Issue Share Holding 100%
Post Issue Share Holding 73.53

Shri Venkatesh Refineries IPO Review

The company operates in a high volume/thin margin segment of edible oil refining. It has posted steady growth in top and bottom lines for the last three fiscals. Based on financial parameters, the issue is fully priced. Cash surplus investors may consider an investment with a long term perspective. Read detail review...


Shri Venkatesh Refineries IPO Subscription Status (Bidding Detail)

The Shri Venkatesh Refineries IPO is subscribed 3.12 times on Oct 1, 2021 6:54:00 AM. The public issue subscribed 3.81 times in the retail category, times in the QIB category, and 2.43 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
NII2.43
Retail3.81
Total3.12

Shri Venkatesh Refineries IPO Prospectus

Shri Venkatesh Refineries IPO Rating

82
3.7
Rating:Rated 3.7 stars
Vote Here ...

Shri Venkatesh Refineries IPO Listing Date

Listing Date Monday, October 11, 2021
BSE Script Code 543373
NSE Symbol
Listing In MT Group of Securities
ISIN INE0HLJ01013
IPO Price ₹40 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE SME
₹40.00
₹42.00
₹42.00
₹43.50
₹42.10

Company Contact Information

Shri Venkatesh Refineries Limited
GAT NO. 16, Umarde,
Erandol, Jalgaon, 425109

Phone: +91-02588-244452
Email: info@richsoya.in
Website: http://www.richsoya.in/

Shri Venkatesh Refineries IPO Registrar

Purva Sharegistry India Pvt Ltd

Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: http://www.purvashare.com

Shri Venkatesh Refineries IPO Review

Shri Venkatesh Refineries IPO Recommendation Summary

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Shri Venkatesh Refineries IPO FAQs

Shri Venkatesh Refineries IPO is a SME IPO of 2,928,000 equity shares of the face value of ₹10 aggregating up to ₹11.71 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000 Shares.

The IPO opens on Sep 29, 2021, and closes on Oct 1, 2021.

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

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

Steps to apply in Shri Venkatesh Refineries 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 'Shri Venkatesh Refineries 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 Shri Venkatesh Refineries IPO opens on Sep 29, 2021 and closes on Oct 1, 2021.

Shri Venkatesh Refineries IPO lot size is 3000 Shares and the minimum order quantity is .

You can apply in Shri Venkatesh Refineries 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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Shri Venkatesh Refineries IPO will be done on Oct 6, 2021, and the allotted shares will be credited to your demat account by Oct 8, 2021. Check the Shri Venkatesh Refineries IPO allotment status.

The Shri Venkatesh Refineries IPO listing date is on Monday, October 11, 2021.
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Shri Venkatesh Refineries IPO Message Board

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96 Comments

20. ypqgj |   Link |Nov 10, 2021 3:12:17 PM
IPO Guru IPO Guru (1400+ Posts, 3300+ Likes)
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20.1. ygj |   Link |Nov 10, 2021 3:18:38 PM
IPO Guru IPO Guru (1400+ Posts, 3300+ Likes)
.
20.2. gjy |   Link |Nov 10, 2021 3:25:07 PM
IPO Guru IPO Guru (1400+ Posts, 3300+ Likes)
.
19. ypqgj |   Link |Nov 10, 2021 3:08:39 PM
IPO Guru IPO Guru (1400+ Posts, 3300+ Likes)
.
19.1. yqpgj |   Link |Nov 10, 2021 3:16:22 PM
IPO Guru IPO Guru (1400+ Posts, 3300+ Likes)
.
18. Spock 🖖 |   Link |Oct 11, 2021 11:11:45 AM
IPO Mentor IPO Mentor (700+ Posts, 800+ Likes)
Good that Hem LM made sure that 4-5% listing gain in both SMEs Jainam and SVRL.
17. CoolAsh |   Link |Oct 2, 2021 3:10:51 PM
I applied 2 lots in HNI. Looking at subscription numbers in HNI, what do you think are the chances?
17.4. lokes |   Link |Oct 7, 2021 9:23:00 PM
IPO Guru IPO Guru (3400+ Posts, 3700+ Likes)
@MRavi: all the best for listing :)
17.5. RAHUL THE TRADER |   Link |Oct 9, 2021 9:25:47 PM
u must get a good listing..just see the profit of the company ....profit reveals itself compnies success story.
16. Dinesh Singh |   Link |Oct 9, 2021 2:22:35 PM
IPO Guru IPO Guru (1000+ Posts, 400+ Likes)
Hoping this will give better return than Jainam.
16.1. RAHUL THE TRADER |   Link |Oct 9, 2021 9:24:14 PM
with increasing profit from YOY ..you will definitely get a good listing...so cheer up n wait for the bumper listing on Monday,....
15. Gaurav DD dimer |   Link |Oct 9, 2021 8:42:06 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Best of luck to all allotees for Monday Listing
14. Small Investor |   Link |Oct 1, 2021 11:19:51 AM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Dear
Rajakumar
Dinesh Singh
Naughty IPO
Cleaver Lomadi
GJ
I will Apply for 1 lot because here is HEMA M.....
14.11. Small Investor |   Link |Oct 7, 2021 3:36:40 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Got 1/1
i hold yet prevest for More Gain
14.12. lokes |   Link |Oct 7, 2021 4:34:00 PM
IPO Guru IPO Guru (3400+ Posts, 3700+ Likes)
@small investor: all the best for venkatesh.....lets see how this one and jainam performs...
ya anyways you have prevest which has given good returns so which can compensate if any small losses in this one like markolines....
13. Dinesh Singh |   Link |Oct 7, 2021 1:14:18 PM
IPO Guru IPO Guru (1000+ Posts, 400+ Likes)
Allotment out on Purva site.
Got 1 lot from 2 Application.
13.1. Small Investor |   Link |Oct 7, 2021 3:35:03 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
You Seen Definitely listing gain in this Counter
12. Mudit |   Link |Oct 7, 2021 3:05:12 PM
I also got allottment of 1 lot out of 2 application.
what is listing gain.
11. Dinesh Singh |   Link |Oct 7, 2021 1:13:43 PM
IPO Guru IPO Guru (1000+ Posts, 400+ Likes)
Allotment out on Purva site.
10. Dinesh Singh |   Link |Oct 7, 2021 1:08:14 PM
IPO Guru IPO Guru (1000+ Posts, 400+ Likes)
Any news of allotment?
Expected today
9. Mr.M.S.VENKATESH |   Link |Oct 5, 2021 3:25:10 AM
Expected opening price after ipo.
8. G J |   Link |Oct 4, 2021 2:40:15 PM
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
Hi experienced members,

Any change in view after looking at subscription numbers?
8.1. G J |   Link |Oct 4, 2021 2:42:27 PM
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
Please ignore this message.
7. Vinayak Behere |   Link |Oct 2, 2021 5:00:24 PM
I have applied for one lot,But not expecting much premium on listings , it''s a long term investment......
7.1. DHARMENDRA SHARMA |   Link |Oct 4, 2021 11:56:51 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Dear lokes Jee
Please Advice For Bombay Metrics,Applied Or Not.
Please Suggest Today Is Last Date.
Thanks


6. Shreyasagrawal |   Link |Oct 3, 2021 9:37:28 AM
I applied i lot
5. Anand A. |   Link |Oct 1, 2021 2:08:05 AM
@lokes @MRavi @TSG
Unpopular opinion but the IPO review are as follows

Apply :
Bombay Metrics - Good valuations and young management (saw one interview) consistent growth in topline from last four years and no big debt on the company.
(Downside is two of its promoters are NRIs and 90% revenue from one customer.)

Not Sure :
Shri Venkatesh Refineries - Highly competitive edible oil industry and low margins with good amount of debt. But has good brand presence. May give good returns god knows.

CWD Innovations - Expensive valuations with good growth opportunities. The website didn''t look good but its LinkedIn page was good. May be worth the risk.

Power Promax - Looked good but had contingent liabilities and litigations with long term debt. Also has good amount of assets and valuations are reasonable. Issue price below book value. It had good website. May give good listing gains.

Avoid :
Dynamic
Destiny
Samor
Adishakti
5.23. MRavichandran |   Link |Oct 2, 2021 10:41:52 PM
IPO Guru IPO Guru (1500+ Posts, 2100+ Likes)
@TSG,
Absolutely.
Bombay Metrics is next closure, Anand A started discussion there, Please provide your input there as well for other members can benefit.

Thanks
5.24. Dinesh Singh |   Link |Oct 2, 2021 11:22:05 PM
IPO Guru IPO Guru (1000+ Posts, 400+ Likes)
Sorry I joined the discussion late.
We are going good.
TSG had correctly said the LM of Bombay Metrics is not good based on last IPO Siddika about 3 month back. Other than this all is good to go.

4. lokes |   Link |Sep 30, 2021 3:01:42 PM
IPO Guru IPO Guru (3400+ Posts, 3700+ Likes)
i will probably apply in this one....tomorrow will take decision after 2.30pm
4.22. Spock 🖖 |   Link |Oct 11, 2021 11:10:22 AM
IPO Mentor IPO Mentor (700+ Posts, 800+ Likes)
MTCL crossed today issue price, now LM job is done, abh ye bhagwan bharose hai.
4.23. lokes |   Link |Oct 11, 2021 11:58:02 AM
IPO Guru IPO Guru (3400+ Posts, 3700+ Likes)
ya both MTCL and jainam are not able to sustain at higher prices....
3. traderji |   Link |Sep 27, 2021 6:56:25 PM
They haven''t bother to update the website https://richsoya.in/awards-and-recognition/ all pages have dummy text.
3.1. Krats |   Link |Sep 29, 2021 5:44:14 PM
This is a placeholder page. Achievements are on its way, that they will get listed.

Try out
https://richsoya.in/
Click more products to go to next page with nore rates items. It''s taking to
2. Spock 🖖 |   Link |Sep 27, 2021 5:00:21 PM
IPO Mentor IPO Mentor (700+ Posts, 800+ Likes)
long term debt is increasing.
low margin products, no any charm in this sector as many big players are eating the market share.
2.3. Spock 🖖 |   Link |Sep 27, 2021 10:04:50 PM
IPO Mentor IPO Mentor (700+ Posts, 800+ Likes)
Not too much worry abt the company, but asking price is expensive.
if HNI crossed at least 5-7X then safe.
but remember SMEs are always risky, apply only when the company fundamentals are good.
In all SME IPOs this time, this is only looks OK.
2.4. Spock 🖖 |   Link |Oct 1, 2021 8:01:57 PM
IPO Mentor IPO Mentor (700+ Posts, 800+ Likes)
poor show, only becs of LM name people have applied,
I hope LM make sure some listing gain.
The newly added SMEs Promax & Bombay metrics are reasonable.
1. LockDownInvestor |   Link |Sep 26, 2021 9:20:39 PM
Another one from Hem Securities, dear members what''s your opinion about it?