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TGIF Agribusiness IPO is a fixed price issue of Rs 6.39 crores. The issue is entirely a fresh issue of 6.88 lakh shares.
TGIF Agribusiness IPO bidding started from May 8, 2024 and ended on May 10, 2024. The allotment for TGIF Agribusiness IPO was finalized on Monday, May 13, 2024. The shares got listed on BSE SME on May 15, 2024.
TGIF Agribusiness IPO price is ₹93 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹111,600. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹223,200.
Hem Securities Limited is the book running lead manager of the TGIF Agribusiness IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for TGIF Agribusiness IPO is Hem Finlease.
Refer to TGIF Agribusiness IPO RHP for detailed information.
| IPO Date | May 8, 2024 to May 10, 2024 |
| Listing Date | May 15, 2024 |
| Face Value | ₹10 per share |
| Price | ₹93 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 687,600 shares (aggregating up to ₹6.39 Cr) |
| Fresh Issue | 687,600 shares (aggregating up to ₹6.39 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,900,000 |
| Share holding post issue | 2,587,600 |
| Market Maker portion | 34,800 shares Hem Finlease |
TGIF Agribusiness IPO offers 687,600 shares. 326,400 (47.47%) to NII, 326,400 (47.47%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 34,800 (5.06%) |
| Other Shares Offered | 326,400 (47.47%) |
| Retail Shares Offered | 326,400 (47.47%) |
| Total Shares Offered | 687,600 (100%) |
TGIF Agribusiness IPO opens on May 8, 2024, and closes on May 10, 2024.
| IPO Open Date | Wednesday, May 8, 2024 |
| IPO Close Date | Friday, May 10, 2024 |
| Basis of Allotment | Monday, May 13, 2024 |
| Initiation of Refunds | Tuesday, May 14, 2024 |
| Credit of Shares to Demat | Tuesday, May 14, 2024 |
| Listing Date | Wednesday, May 15, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 10, 2024 |
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 | ₹111,600 |
| Retail (Max) | 1 | 1200 | ₹111,600 |
| HNI (Min) | 2 | 2,400 | ₹223,200 |
| Lot Size Calculator | |||
Mr. Niraj Chhaganraj Gemawat and Ms. Rachana Niraj Gemawat are the company's promoters.
| Share Holding Pre Issue | 99.80% |
| Share Holding Post Issue | 73.28% |
Founded in 2014, TGIF Agribusiness Limited, previously known as ARV Farmpro LLP, is active in the open field cultivation of fruit and vegetable varieties.
The company is engaged in the cultivation of pomegranates, dragon fruit and timber plantations, i.e. sagwan trees. The company also grows and harvests seasonal vegetables and fruits such as lemons, watermelons and chilies.
The company's farmlands are located in Ajari, Kasindra and Kojra in Rajasthan and cover an area of over 110 acres. The land has been leased from Niraj Chhaganraj Gemawat (promoter), Rachna Gemawat (promoter), Niraj Chhaganraj Gemawat HUF and Vipin Moharir.
The company sells most of its products through a B2B business model to retailers, wholesalers, retail chains, hypermarkets and mandis. The company also plans to sell its products directly to customers through a B2C model called Direct2home Service.
As of November 30, 2023, the company employed around 8 people at various levels of the organization.
TGIF Agribusiness Limited's revenue increased by 12.14% and profit after tax (PAT) rose by 12.63% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Nov 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 282.32 | 187.52 | 65.33 | 291.62 |
| Revenue | 171.79 | 232.28 | 207.14 | 181.59 |
| Profit After Tax | 81.41 | 130.07 | 115.48 | 38.18 |
| Net Worth | 190.00 | 175.89 | 45.82 | 257.91 |
| Total Borrowing | 67.30 | |||
| Amount in ₹ Lakhs | ||||
The market capitalization of TGIF Agribusiness IPO is Rs 24.06 Cr.
KPI as of November 30, 2024.
| KPI | Values |
|---|---|
| RoNW | 42.85 |
| P/BV | 9.3 |
| PAT Margin (%) | 47.7 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.85 | 4.72 |
| P/E (x) | 13.58 | 19.71 |
The company intends to utilize the proceeds of the Issue to meet the following objects:
[Dilip Davda] This horticulture company is engaged in farming of certain fruits and vegetables. It posted minuscule top lines with an average 53% net earnings, which is very surprising and raise concern over its sustainability going forward. Based on FY24 annualized super earnings, the issue appears fully priced. Tiny post-IPO equity capital indicates longer gestation for migration. Well-informed/cash surplus investors may park moderate funds for the medium to long term rewards. Read detail review...
The TGIF Agribusiness IPO is subscribed 37.13 times on May 10, 2024 6:19:06 PM. The public issue subscribed 32.92 times in the retail category, times in the QIB category, and 35.35 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 35.35 |
| Retail | 32.92 |
| Total | 37.13 |
Total Application : 10,906 (9.09 times)
| Listing Date | May 15, 2024 |
| BSE Script Code | 544175 |
| NSE Symbol | |
| ISIN | INE0SMU01015 |
| Final Issue Price | ₹93 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹93.00 |
| ₹150.00 |
| ₹142.50 |
| ₹156.80 |
| ₹142.50 |
TGIF Agribusiness Limited
A/52, Fairy Society, 5th Floor,
Corporate House, Bodakdev,
Ahmedabad - 380054
Phone: +079 49887770
Email: cs@tgifagribusiness.com
Website: http://www.tgifagri.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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TGIF Agribusiness IPO is a SME IPO of 687,600 equity shares of the face value of ₹10 aggregating up to ₹6.39 Crores. The issue is priced at ₹93 per share. The minimum order quantity is 1200 Shares.
The IPO opens on May 8, 2024, and closes on May 10, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in TGIF Agribusiness IPO using UPI as a payment gateway. Zerodha customers can apply in TGIF Agribusiness IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in TGIF Agribusiness IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The TGIF Agribusiness IPO opens on May 8, 2024 and closes on May 10, 2024.
TGIF Agribusiness IPO lot size is 1200 Shares, and the minimum amount required is ₹111,600.
You can apply in TGIF Agribusiness 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 TGIF Agribusiness IPO will be done on Monday, May 13, 2024, and the allotted shares will be credited to your demat account by Tuesday, May 14, 2024. Check the TGIF Agribusiness IPO allotment status.
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