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Empyrean Cashews Limited IPO Detail

Empyrean Cashews Limited IPO Detail

The company produces and sells cashews under the brand name Krishival Cashews. Incorporated in 2014, Empyrean Cashews Limited engages in the processing of raw cashew nuts into flavoured cashews.

Empyrean Cashews Limited offers products on the domestic market with a network of more than thirty (30) distributors across India. The company product portfolio includes different flavours of cashews such as salted, pepper, chilli and assorted - all offered in different grades and packaging formats.

The company products are available on Flipkart, Messho and India Mart.

Empyrean Cashews has processing and packaging units in Village Halkarni and Village Shinoli, Kolhapur, Maharashtra. The company also has one subsidiary namely, Siddhivinayak Cashew Industries Private Limited.

Competitive Strengths:

  1. Quality Assurance.
  2. Strategically located manufacturing facilities with state of the art infrastructure and integrated processing and packaging facilities.
  3. Customers' Satisfaction and their retention.
  4. Widespread distribution network and presence across various retail channels for timely delivery.
  5. Experienced and professional senior management team. 

Company Promoters

Aparna Morale Bangar, Nana Prakash Mhaske and Anant Pandurang Kulkarni are the company promoters.

IPO Details

IPO Opening DateMar 21, 2022
IPO Closing DateMar 23, 2022
Issue TypeFixed Price Issue IPO
Face Value₹10 per equity share
IPO Price ₹37 per equity share
Market Lot3000 Shares
Min Order Quantity3000 Shares
Listing AtNSE SME
Issue Size₹19.41 Cr
Fresh Issue₹19.41 Cr
Offer for Sale-
Retail Portion 50%

IPO Subscription (Bidding Detail)

AS On QIB SHNI BHNI NII RII TOTAL
Day 1 - - 2.53x 0.97x 1.75x
Day 2 - - 2.92x 1.63x 2.28x

IPO Tentative Timetable

The Empyrean Cashews Limited IPO open date is Mar 21, 2022, and the close date is Mar 23, 2022. The issue may list on Mar 31, 2022.

IPO Open DateMar 21, 2022
IPO Close DateMar 23, 2022
Basis of Allotment DateMar 28, 2022
Initiation of RefundsMar 30, 2022
Credit of Shares to Demat AccountMar 30, 2022
IPO Listing DateMar 31, 2022

IPO Lot Size

The Empyrean Cashews Limited IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹111000).

ApplicationLotsSharesAmount (Cut-off)
Minimum13000₹111000
Maximum13000₹111000

IPO Promoter Holding

Pre Issue Share Holding56.99%
Post Issue Share Holding41.88%

Company Financials:

For the year/period ended (₹ in Lakhs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Oct-21 2191.20 2722.71 166.69
31-Mar-21 2156.19 2858.08 66.74
31-Mar-20 1641.48 4438.69 95.60
31-Mar-19 1610.58 5047.27 64.95

Objects of the Issue:

The company intends to utilize the proceeds of the Issue to meet the following objectives:

  1. To meet the Working Capital Requirements.
  2. General Corporate Purposes.
  3. To meet the Issue Expenses.

Empyrean Cashews Limited IPO Lead Manager(s):

Systematix Corporate Services Limited

Company Contact Information:

Empyrean Cashews Limited

1309, Lodha Supremus Powai, Saki Vihar Road,

opposite MTNL Office

Mumbai