Proventus Agrocom IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Proventus Agrocom IPO will open on May 24 and close on May 26, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 69.54 crores through this public offering, consisting of 9.02 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 771 per share.
Proventus Agrocom Limited (“the Company”)
The company was incorporated in 2015. Proventus Agrocom Limited is an integrated health food brand with a presence in an entire range of dry fruits, nuts, seeds, berries, and healthy snacking products across the value chain. The company’s main approach in the space focuses on diversifying across the baskets and intensifying its presence across the value chain; in the end, it is a ‘one-stop shop’ for its consumers.
In the last three years, the company has developed direct relationships with 45+ growers and/or suppliers across the globe, including California, Chile, and Afghanistan.
Company strength
- Diversified product portfolio focused on various consumer segments and markets
- Extensive distribution network, arrangements with reputed chain stores, and a growing e-commerce channel
- Established and stable sourcing base
- Capital-efficient and scalable retail model to capitalise on the industry growth profile driven by a rapid shift towards a healthy lifestyle and hygienic food snacking trends, organised retail, and increasing online penetration.
- Using dry fruits that are broken and the shells and skins of the raw material to derive maximum value realisation
- Experienced promoters and management team
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Funding the working capital requirements of the company;
- Funding the working capital requirements of the material subsidiary, namely, Prov Foods Private Limited;
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | For the period ended on 31st Dec. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 6,167 | 5,967 | 5,845 | 5,664 |
| Total Assets | 9,735 | 10,131 | 8,843 | 8,937 |
| Reserve & Surplus | 5,235 | 5,034 | 4,912 | 4,731 |
| Total Borrowings | 3,061 | 3,444 | 2,941 | 1,729 |
| Total Revenue | 31,910 | 40,435 | 30,174 | 90,089 |
| Profit After Tax | 190 | 114 | 188 | (2,190) |
IPO details
As per the DRHP filed with SEBI, 671,853 shares will be offered as part of the fresh issue on the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 45,100 shares of the offering. While Sundae Capital Advisors will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 771 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 160 shares |
| Issue Size | 902,000 shares (aggregating up to ₹ 69.54 crores) |
| Fresh Issue | 671,853 shares (aggregating up to ₹ 51.80 crores) |
| Offer for Sale | 230,147 shares of ₹ 10 each (aggregating up to ₹ 17.74 crores) |
| Others Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
| Market Maker | Ajcon Global Services |
| Market maker portion | 45,100 shares |
| Listing At | NSE SME |
| Company Promoters | Durga Prasad Jhawar, Deepak Kumar Agrawal, Shalin Sanjiv Khanna And Shree JMD Investment Advisors LLP |
GMP: Proventus Agrocom IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Proventus Agrocom IPO
The issue opens for subscription on May 24, 2023, and closes for subscription on May 26, 2023 (both days inclusive). The basis of allotment will be finalised on May 31, 2023, and the refunds will be initiated on June 1, 2023. In addition, the demat credits are expected to happen on June 2, 2023, and the stock will list on June 5, 2023, on the NSE SME. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day (May 26, 2023).
| Opening Date | May 24, 2023 |
| Closing Date | May 26, 2023 |
| Basis of Allotment | May 31, 2023 |
| Initiation of Refunds | June 1, 2023 |
| A credit of shares to Demat A/c | June 2, 2023 |
| Listing Date | June 5, 2023 |
Lot Size
The lot size of the Proventus Agrocom IPO is 160 shares. A retail-individual investor can apply for up to 1 lot, i.e. 160 shares of ₹ 123,360.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 160 | ₹ 123,360 |
| Retail (Maximum) | 1 | 160 | ₹ 123,360 |
| HNI (Minimum) | 2 | 320 | ₹ 246,720 |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Proventus Agrocom Limited Unit 515, 5th Floor, C Wing, 1 MTR Cabin, Atrium, Village Mulgaon, MV Road, Andheri (East), Near Acme Plaza, Mumbai – 400 069 Phone: +91 22 6211 0900 Email: [email protected] Website: http://www.proventusagro.com/ |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: [email protected] Website: https://www.bigshareonline.com/ |
| IPO Lead Manager(s) | Sundae Capital Advisors |
FAQ’s
What is Proventus Agrocom’s IPO price?
The Proventus Agrocom IPO price is ₹ 771 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Proventus Agrocom IPO contains 160 shares of ₹ 123,360.
When will the Proventus Agrocom IPO allotment be available?
The finalisation of the basis of allotment for the Proventus Agrocom IPO will be done on May 31, 2023, and the allotted shares will be credited to your demat account by June 2, 2023. Check the Proventus Agrocom IPO allotment status.
When will Proventus Agrocom IPO list on exchanges?
The Proventus Agrocom IPO shares listing date is June 5, 2023.
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