Italian Edibles Limited IPO Detail
Founded in 2009, Italian Edibles Limited offers a wide range of confectionery products such as Rabdi [Meethai Sweet], milk paste, chocolate paste, lollipops, candies, jelly sweets, multigrain puffed buns, and fruit-based products under its OfCour's brand.
The company has two manufacturing facilities at Gram Palda, Indore and Prabhu Toll Kanta, Indore (Madhya Pradesh).
Italian Edibles is present all over India, especially in the rural and semi-urban areas of Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Kerela, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand and West Bengal. The company also exports its products to various countries such as Nigeria, Yemen, Sinegal, and Sudan.
As of August 31, 2023, the Company's customer list includes Chocolate World, Yuvraj Agency, Bakewell Biscuits Private Limited, R. K. Prabhavati Tarders, Mamta Stores, Ma Laxmi Traders, Suria Distributor, etc. In addition, one of its products, namely Jelly Candies, is sold to Dharpal Premchand Ltd (BABA) Group.
The company has a dedicated sales and marketing team consisting of 15 employees.
Company Promoters
Mr. Ajay Makhija and Mr. Akshay MakhijaIPO Details
| IPO Opening Date | Feb 02, 2024 |
| IPO Closing Date | Feb 07, 2024 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹68 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹26.66 Cr |
| Fresh Issue | ₹26.66 Cr |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.57x | 4.14x | 2.35x | |
| Day 2 | - | - | 5.00x | 27.18x | 16.10x | |
| Day 3 | - | - | 14.11x | 54.00x | 34.10x | |
| Day 4 | - | - | 177.37x | 120.62x | 154.43x |
IPO Tentative Timetable
The Italian Edibles Limited IPO open date is Feb 02, 2024, and the close date is Feb 07, 2024. The issue may list on Feb 12, 2024.
| IPO Open Date | Feb 02, 2024 |
| IPO Close Date | Feb 07, 2024 |
| Basis of Allotment Date | Feb 08, 2024 |
| Initiation of Refunds | Feb 09, 2024 |
| Credit of Shares to Demat Account | Feb 09, 2024 |
| IPO Listing Date | Feb 12, 2024 |
IPO Lot Size
The Italian Edibles Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹136000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹136000 |
| Maximum | 1 | 2000 | ₹136000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.47% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 3946.43 | 4899.44 | 86.52 |
| 31-Mar-22 | 3905.45 | 7545.25 | 80.21 |
| 31-Mar-23 | 4155.24 | 6330.09 | 264.21 |
| 31-Aug-23 | 4824.64 | 3052.16 | 209.68 |
Objects of the Issue:
The Net Proceeds from the Issue are proposed to be utilized by the company for the following objects:
- Setting up of the proposed manufacturing unit;
- Repayment of certain Borrowings;
- To meet incremental working capital requirements; and
- General Corporate Expenses.
Italian Edibles Limited IPO Registrar:
Bigshare Services Pvt Ltd
Italian Edibles Limited IPO Lead Manager(s):
First Overseas Capital Limited
Company Contact Information:
Italian Edibles Limited
309/1/1/8 Block No.03,
Mangal Udhyog Nagar, Gram Palda,
Indore - 452020
