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Tapi Fruit Processing Limited IPO Detail

Tapi Fruit Processing Limited IPO Detail

Tapi Fruit Processing Limited is a Manufacturer of Jelly Based Fruit Products such as Candied, Crystallised and Glazed Fruits, Fruit Bar, Fruit Jellies, Fruit Jam & Fruit Leathers, Chutney & Sauces, Beverages, Fruit crush, Fruit Syrups and Nutraceutical products such as vitamin Gummies. The company was started in 1999 by its founder director Ghanshyam Lukhi as a Proprietorship firm namely Tapi Food Products.

The products of the company are manufactured in-house at the manufacturing facilities located in Pipodara village, Distt. Surat, Gujarat. Tapi Fruit Processing Limited has received several quality certifications and accreditations, including certification from the ISO 22000:2018 and the Food Safety and Standards Authority of India (FSSAI).

The company has developed a large pan-India distribution network and during the Financial Year ended March 31, 2022, the company distributed products across 28 states and Union Territories in India, through the widespread network of 60 super-stockist.

Strengths :

  • The company believes they are among the few organized players in the Candied Fruit & Fruit Jellies segment of confectionaries with a well-established distribution network.
  • Wide spread and established sales and distribution network.
  • The company has state-of-the-art manufacturing infrastructure, superior sourcing and stringent quality and food safety procedures.
  • Diversified Product Portfolio.
  • Experienced promoter and management team.

Company Promoters

The Promoters of the Company are Ghanshyambhai Laljibhai Lukhi and Ashokkumar Laljibhai Lukhi.

IPO Details

IPO Opening DateSep 12, 2022
IPO Closing DateSep 14, 2022
Issue TypeFixed Price Issue IPO
Face Value₹10 per equity share
IPO Price ₹48 per equity share
Market Lot3000 Shares
Min Order Quantity3000 Shares
Listing AtNSE SME
Issue Size₹5.21 Cr
Fresh Issue1,086,000 shares of ₹10 (aggregating up to ₹5.21 Cr)
Offer for Sale-
Retail Portion 50%

IPO Subscription (Bidding Detail)

AS On QIB SHNI BHNI NII RII TOTAL
Day 1 - - 0.19x 0.25x 0.22x
Day 2 - - 0.32x 1.16x 0.74x
Day 3 - - 1.93x 3.32x 2.62x

IPO Tentative Timetable

The Tapi Fruit Processing Limited IPO open date is Sep 12, 2022, and the close date is Sep 14, 2022. The issue may list on Sep 22, 2022.

IPO Open DateSep 12, 2022
IPO Close DateSep 14, 2022
Basis of Allotment DateSep 19, 2022
Initiation of RefundsSep 20, 2022
Credit of Shares to Demat AccountSep 21, 2022
IPO Listing DateSep 22, 2022

IPO Lot Size

The Tapi Fruit Processing Limited IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹144000).

ApplicationLotsSharesAmount (Cut-off)
Minimum13000₹144000
Maximum13000₹144000

IPO Promoter Holding

Pre Issue Share Holding99.94%
Post Issue Share Holding

Company Financials:

For the year/period ended (₹ in Lakhs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-20 589.18 1145.69 -0.86
31-Mar-21 737.4 1312.5 10.06
31-Mar-22 802.88 1522.09 15.6

Objects of the Issue:

The Net Proceeds from the Issue are proposed to be utilised by the Company for the following objects:

1. Meeting incremental working capital requirements

2. Repayment / prepayment of certain borrowings availed by the Company

3. General corporate purposes

Tapi Fruit Processing Limited IPO Registrar:

Bigshare Services Pvt Ltd

Tapi Fruit Processing Limited IPO Lead Manager(s):

Fedex Securities Limited (Past IPO Performance)

Company Contact Information:

Tapi Fruit Processing Limited

Office No. - 212 to 214, Sunrise Chambers, Near Ashok Colony, Mini Bazar, Varachha Road

Surat

Gujarat