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Incorporated in 2011, Mumbai based White Organic Retail Ltd is engaged in the trading of agriculture products such as Vegetables, Fruits, Grains, Pulses, and Cereals. Initially, before Sept 2016, the company was named as Sapna Infraventure Private Limited and involved in Real Estate Development Activity. In Oct 2016, the company started retailing and distribution operations of Organic Products. It had a store for the commercial operation at Chembur, Mumbai which is closed now. Although, the company is about to open the new store at Bhandup (West), Mumbai.
Future Plans:
The company has future plans to expand distribution and retail network, which are as follow:
1. It is planning to establish more than 40 retail outlets.
2. The company will launch new products such as Aloe Vera Juices, Incence Sticks, Aloe Vera Gel, Soap, Mukhwas, Health Powders, Syrups, Churans, Snacks, Sweetners, Cow Ghee, Jaggery, Beauty Products, etc.
3. It is also looking to introduce the capsule range of Jvara, Haldi, Amla, etc; and medicinal powders of Rasayan, Moringa, Ashwagandha, Gokharu, etc.
4. The management of the company is also looking to introduce eCommerce website and mobile application soon.
5. White Organic Retail Ltd also has plans to start export operations in future.
The competitive strengths of the company are:
1. A strong client base
2. Wide product range
3. Effective supplier relationship
Mr. Prashant Mahesh Rupani, Darshak Mahesh Rupani and White Organic Agro Ltd are the promoters of the company.
| Particulars | For the year/period ended (in Rs. Lakhs) | ||||
|---|---|---|---|---|---|
| 31-Dec-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | ||
| Total Assets | 6,022.65 | 5,017.40 | 1,447.81 | 1,276.55 | |
| Total Revenue | 11,549.52 | 8,292.76 | 142.62 | - | |
| Profit After Tax | 450.78 | 302.45 | 58.68 | 23.90 | |
The Objects of the Issue are:
1. To meet the working capital requirements of the company
2. To meet the Issue Expenses
3. General Corporate Purposes
| IPO Opening Date | Apr 26, 2019 |
| IPO Closing Date | May 2, 2019 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹63 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | BSE SME |
| Issue Size | 2,454,000 Eq Shares of ₹10 (aggregating up to ₹15.46 Cr) |
The White Organic IPO open date is Apr 26, 2019, and the close date is May 2, 2019. The issue may list on May 10, 2019.
| IPO Open Date | Apr 26, 2019 |
| IPO Close Date | May 2, 2019 |
| Basis of Allotment Date | May 7, 2019 |
| Initiation of Refunds | May 8, 2019 |
| Credit of Shares to Demat Account | May 9, 2019 |
| IPO Listing Date | May 10, 2019 |
The White Organic IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹126,000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹126,000 |
| Maximum | 1 | 2000 | ₹126,000 |
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 55.01% |
Based on the financial parameters and recent performance, the issue appears attractively priced. Super performance for FY18 and 9MFY19 raises eyebrows. Group's tendency to change business model raises concern. Considering future plans, investors may consider investment for the long term.
Read detail review...The White Organic IPO is subscribed 1.36 times on 5/2/2019 6:49:00 PM. The public issue subscribed 0.70 times in the retail category, times in the QIB category, and 2.02 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| NII | 2.02 |
| Retail | 0.70 |
| Total | 1.36 |
| Listing Date | Friday, May 10, 2019 |
| BSE Script Code | 542667 |
| NSE Symbol | |
| Listing In | MT Group of Securities |
| ISIN | INE06CG01019 |
| IPO Price | ₹63 per equity share |
| Face Value | ₹10 per equity share |
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White Organic Retail Limited
312A, Kailas Plaza, Vallabh Baug Lane,
Ghatkopar (East), Mumbai,
Mumbai City, India, 400077
Phone: 022 25011983
Email: info@whiteorganics.co.in
Website: http://www.whiteorganics.co.in/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: worl.ipo@linktime.co.in
Website: https://linkintime.co.in/
White Organic IPO is a SME IPO of 2,454,000 equity shares of the face value of ₹10 aggregating up to ₹15.46 Crores. The issue is priced at ₹63 per equity share. The minimum order quantity is 2000 Shares.
The IPO opens on Apr 26, 2019, and closes on May 2, 2019.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
The White Organic IPO opens on Apr 26, 2019 and closes on May 2, 2019.
White Organic IPO lot size is 2000 Shares and the minimum order quantity is 2000 Shares.
You can apply in White Organic 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 White Organic IPO will be done on May 7, 2019, and the allotted shares will be credited to your demat account by May 9, 2019. Check the White Organic IPO allotment status.
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