TGIF Agribusiness Limited IPO Detail
Founded in 2014, TGIF Agribusiness Limited, previously known as ARV Farmpro LLP, is active in the open field cultivation of fruit and vegetable varieties.
The company is engaged in the cultivation of pomegranates, dragon fruit and timber plantations, i.e. sagwan trees. The company also grows and harvests seasonal vegetables and fruits such as lemons, watermelons and chilies.
The company's farmlands are located in Ajari, Kasindra and Kojra in Rajasthan and cover an area of over 110 acres. The land has been leased from Niraj Chhaganraj Gemawat (promoter), Rachna Gemawat (promoter), Niraj Chhaganraj Gemawat HUF and Vipin Moharir.
The company sells most of its products through a B2B business model to retailers, wholesalers, retail chains, hypermarkets and mandis. The company also plans to sell its products directly to customers through a B2C model called Direct2home Service.
As of November 30, 2023, the company employed around 8 people at various levels of the organization.
Company Promoters
Mr. Niraj Chhaganraj Gemawat and Ms. Rachana Niraj GemawatIPO Details
| IPO Opening Date | May 08, 2024 |
| IPO Closing Date | May 10, 2024 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹93 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | BSE SME |
| Issue Size | ₹6.39 Cr |
| Fresh Issue | ₹6.39 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 | 0.88x | 2.05x | 1.46x |
| Day 2 | 0.00x | 0.00x | 0.00x | 2.41x | 5.90x | 4.15x |
| Day 3 | 0.00x | 0.00x | 0.00x | 35.35x | 32.92x | 37.13x |
IPO Tentative Timetable
The TGIF Agribusiness Limited IPO open date is May 08, 2024, and the close date is May 10, 2024. The issue may list on May 15, 2024.
| IPO Open Date | May 08, 2024 |
| IPO Close Date | May 10, 2024 |
| Basis of Allotment Date | May 13, 2024 |
| Initiation of Refunds | May 14, 2024 |
| Credit of Shares to Demat Account | May 14, 2024 |
| IPO Listing Date | May 15, 2024 |
IPO Lot Size
The TGIF Agribusiness Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹111600).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹111600 |
| Maximum | 1 | 1200 | ₹111600 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.80% |
| Post Issue Share Holding | 73.28% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 291.62 | 181.59 | 38.18 |
| 31-Mar-22 | 65.33 | 207.14 | 115.48 |
| 31-Mar-23 | 187.52 | 232.28 | 130.07 |
| 30-Nov-23 | 282.32 | 171.79 | 81.41 |
Objects of the Issue:
The company intends to utilize the proceeds of the Issue to meet the following objects:
- Purchase of agricultural equipment & irrigation system;
- To meet Working Capital requirements, and
- General Corporate Purpose.
TGIF Agribusiness Limited IPO Registrar:
Bigshare Services Pvt Ltd
TGIF Agribusiness Limited IPO Lead Manager(s):
Hem Securities Limited
Company Contact Information:
TGIF Agribusiness Limited
A/52, Fairy Society, 5th Floor,
Corporate House, Bodakdev,
Ahmedabad - 380054
