TBI Corn Limited IPO Detail
Incorporated in 2000, TBI Corn Limited is a manufacturer and exporter of Corn Meal Grits. The Company is ISO 9001:2015 and ISO 22000:2018 certified.
The company specialize in producing high-quality Corn/Maize Grits and related products in the Sangli district of Maharashtra, India.
The company sells various products, including fat-free corn grits/meals, corn flakes, stone-free broken maize and corn flour, and turmeric finger.
All products are made without chemical additives or preservatives and are GMO-free.
The company exports its products to various countries such as Dubai, Oman, Jordan, South Africa, and Vietnam.
As of 31st December 2023, the company has a total of 48 employees
Company Promoters
Mr. Yogesh Laxman Rajhans and Mrs. Asha Laxman RajhansIPO Details
| IPO Opening Date | May 31, 2024 |
| IPO Closing Date | Jun 04, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹90 - 94 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | NSE SME |
| Issue Size | ₹44.94 Cr |
| Fresh Issue | ₹44.94 Cr |
| Offer for Sale | - |
| Retail Portion | 12.38% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.23x | 0.00x | 0.00x | 48.76x | 242.92x | 55.69x |
| Day 2 | 81.41x | 0.00x | 0.00x | 516.50x | 523.29x | 231.21x |
IPO Tentative Timetable
The TBI Corn Limited IPO open date is May 31, 2024, and the close date is Jun 04, 2024. The issue may list on Jun 07, 2024.
| IPO Open Date | May 31, 2024 |
| IPO Close Date | Jun 04, 2024 |
| Basis of Allotment Date | Jun 05, 2024 |
| Initiation of Refunds | Jun 06, 2024 |
| Credit of Shares to Demat Account | Jun 06, 2024 |
| IPO Listing Date | Jun 07, 2024 |
IPO Lot Size
The TBI Corn Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹112800).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹112800 |
| Maximum | 1 | 1200 | ₹112800 |
IPO Promoter Holding
| Pre Issue Share Holding | 76.65% |
| Post Issue Share Holding | 57.71% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 4254.86 | 6776.38 | 23.93 |
| 31-Mar-22 | 4317.63 | 10097.26 | 45.16 |
| 31-Mar-23 | 12162.04 | 14042.63 | 686.09 |
| 31-Oct-23 | 9511.50 | 10196.53 | 766.45 |
Objects of the Issue:
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- Expansion of Existing Unit;
- To Meet Incremental Working Capital Requirement;
- General Corporate Purpose
TBI Corn Limited IPO Registrar:
KFin Technologies Limited
TBI Corn Limited IPO Lead Manager(s):
Swastika Investmart Ltd Ekadrisht Capital Private Limited
Company Contact Information:
TBI Corn Limited
A5/3 & A5/4, MIDC,
Miraj, Tal- Miraj
Dist- Sangli 416410
