M.V.K. Agro Food Product Ltd IPO Detail
Incorporated in February 2018, MVK Agro Food Product Limited is a manufacturer of integrated sugar and other related products. The company has a licensed crushing capacity of 2,500 TCD and sells its by-products, Molasses, Bagasse, and Pressmud.
The company sells its products through brokers who, in turn, sell to export houses such as PepsiCo Holdings India Private Limited, Parle Biscuits Private Limited and Britannia Industries Limited. In addition to selling its products to brokers, the company also supply commodities to export-oriented traders like Sakuma Exports Limited, Indian Sugar Exim Corporation, Garden Court and HRMM Agro Overseas Private Limited.
The company operates a zero-waste manufacturing facility. Waste generated is either sold or used to generate power.
The revenues from operations for the six-month period ended September 30, 2023, and the fiscal years 2023, 2022, and 2021 were ₹6,012.52 lakhs, ₹9,327.65 lakhs, ₹13,067.11 lakhs, and ₹2,283.40 lakhs, respectively.
The company's manufacturing facility is located in Nanded District, Maharashtra.
As of September 2023, the company has 160 employees across various departments of the company.
Company Promoters
Marotrao Vyankatrao Kawale, Sagarbai Marotrao Kawale, Ganeshrao Vyankatrao Kawale, Kishanrao Vyankatarao Kawale and Sandip Marotrao KawaleIPO Details
| IPO Opening Date | Feb 29, 2024 |
| IPO Closing Date | Mar 04, 2024 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹120 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | NSE SME |
| Issue Size | ₹65.88 Cr |
| Fresh Issue | ₹65.88 Cr |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | 0.00x | 0.00x | 0.56x | 1.56x | 1.06x |
| Day 2 | 0.00x | 0.00x | 0.00x | 0.78x | 5.07x | 2.93x |
| Day 3 | 0.00x | 0.00x | 0.00x | 3.90x | 13.01x | 8.46x |
IPO Tentative Timetable
The M.V.K. Agro Food Product Ltd IPO open date is Feb 29, 2024, and the close date is Mar 04, 2024. The issue may list on Mar 07, 2024.
| IPO Open Date | Feb 29, 2024 |
| IPO Close Date | Mar 04, 2024 |
| Basis of Allotment Date | Mar 05, 2024 |
| Initiation of Refunds | Mar 06, 2024 |
| Credit of Shares to Demat Account | Mar 06, 2024 |
| IPO Listing Date | Mar 07, 2024 |
IPO Lot Size
The M.V.K. Agro Food Product Ltd IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹144000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹144000 |
| Maximum | 1 | 1200 | ₹144000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 64.56% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 11445.70 | 2583.10 | 140.41 |
| 31-Mar-22 | 11602.06 | 13263.56 | 319.81 |
| 31-Mar-23 | 15471.93 | 9393.63 | 377.45 |
| 30-Sep-23 | 14804.05 | 6044.36 | 430.07 |
Objects of the Issue:
The Net Proceeds are proposed to be used in the following manner:
- Setting up a greenfield unit in Nanded, Maharashtra for (i) manufacturing Ethanol and (ii) generation and bottling of Bio-CNG and Fertilizer 5,238.17
- General corporate purposes
M.V.K. Agro Food Product Ltd IPO Registrar:
MAS Services Limited
M.V.K. Agro Food Product Ltd IPO Lead Manager(s):
Horizon Management Private Limited
Company Contact Information:
M.V.K. Agro Food Product Ltd
GUT No. 44 and 46
Kusumnagar, At Post
Waghalwada, Umari, Nanded – 431 807
