The Freshara Agro Exports IPO is set to open on October 17, 2024, and will remain open for bidding until October 21, 2024. As a Book Built Issue, the company aims to raise approximately ₹75.39 crores. This fundraising effort includes a fresh issue amounting to ₹75.39 crores, in addition to an offer for sale of up to [.] equity shares, each carrying a face value of ₹10.
Table of contents
- IPO Overview
- Company Details
- Key Dates
- Financials (₹ in Lakhs)
- IPO Lot Size
- The objective of the Issue
- Company Promoters
- Freshara Agro Exports IPO GMP (Grey Market Premium)
- Freshara Agro Exports IPO Application Form PDF
- Freshara Agro Exports IPO Subscription Status
- Freshara Agro Exports IPO Allotment Status
- IPO Review
- IPO Registrar
- IPO Lead Manager
- Freshara Agro Exports Contact
- FAQs
IPO Overview
| Overview Points | Description |
|---|---|
| Company Name | Freshara Agro Exports Limited |
| Industry | Food Processing and Agriculture |
| IPO Issue Type | Book Built Issue |
| Open Date | October 17, 2024 |
| Close Date | October 21, 2024 |
| Total Issue Size | ₹75.39 Crores (6,499,200 Equity Shares) |
| Fresh Issue | ₹75.39 Crores (6,499,200 Equity Shares) |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹110 to ₹116 per share |
| Listing on | NSE SME |
| Lot Size | 1200 Shares |
| Offer for Sale | NA |
| Shares Offered to Retail | 35% |
| Shares Offered to QIB | 50% |
| Shares Offered to HNI | 15% |
Company Details
Freshara Agro Exports Limited, formerly known as Freshara Picklz Exports, was established in 2015 and has since focused on procuring, processing, and exporting preserved gherkins and other pickled goods from India to various countries around the world.
Through its well-structured contract farming program, the company sources raw produce from local farmers across Tamil Nadu, Karnataka, and parts of Andhra Pradesh. Notably, 70% of this produce is “not ready to eat” and is sent directly to factories for further processing into finished products. Meanwhile, the remaining 30% is supplied to international food brokers and traders, broadening its global reach. Freshara Agro Exports’ product portfolio includes gherkins, baby corn, jalapenos, and various other pickled vegetables.
As of March 31, 2024, the company processes and exports pickled vegetables in three distinct packaging categories. First, industrial packaging is offered in food-grade drums and pails. Second, food packaging is available in plastic buckets and tin cans. Finally, retail packaging comes in glass jars and tin cans, catering to different market segments.
Additionally, the company holds numerous accreditations from leading organizations, including the Food Safety and Standards Authority of India (FSSAI), the U.S. Food & Drug Administration (FDA), Star-K Kosher, the Agricultural and Processed Food Products Export Development Authority (APEDA), International Featured Standards, and the Brand Reputation through Compliance Global Standard (BRCGS). These certifications further reinforce its commitment to quality and safety.
Key Dates
| Events | Date |
|---|---|
| IPO Open Date | October 17, 2024 |
| IPO Close Date | October 21, 2024 |
| Basis of Allotment | October 22, 2024 |
| Refunds | October 23, 2024 |
| Credit to Demat Account | October 23, 2024 |
| IPO Listing Date | October 24, 2024 |
Financials (₹ in Lakhs)
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | ₹16,599.73 | ₹28,853.09 | ₹8,490.64 | ₹5,887.64 |
| Revenue | ₹10,746.11 | ₹19,801.58 | ₹12,700.22 | ₹11,840.68 |
| Profit After Tax | ₹1,137.81 | ₹2,182.41 | ₹908.2 | ₹97.36 |
| Net Worth | ₹3,834.58 | ₹5,958.45 | ₹1,855.49 | ₹931.58 |
| Reserves and Surplus | ₹2,134.58 | ₹996.77 | - | - |
| Total Borrowing | ₹10,625.22 | ₹17,618.1 | ₹4,173.89 | ₹3,479.1 |
IPO Lot Size
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹139,200 |
| Retail (Max) | 1 | 1200 | ₹139,200 |
| HNI (Min) | 2 | 2400 | ₹278,400 |
The objective of the Issue
- To fund capital expenditures, the company aims to allocate resources accordingly.
- Additionally, it seeks to support its working capital needs to ensure smooth operations.
- Furthermore, a portion of the funds will be used to address general corporate purposes.
- Lastly, the company plans to cover issue-related expenses with the remaining funds
Company Promoters
- Mr. Junaid Ahmed
- Mr. Iqbalahmed Khudrathullah Mohammed
- Mrs. Asma Syed.
Freshara Agro Exports IPO GMP (Grey Market Premium)
Want to know the latest Gray Market Premium (GMP) for Freshara Agro Exports IPO? We’ve got you covered! Access our GMP IPOs sessions for daily updates on all IPOs, including Freshara Agro Exports. Dig into everything with real-time GMP insights to help you make informed investment choices. intelligent Whether you are an experienced investor or just starting out. Our updates will keep you informed!
Freshara Agro Exports IPO Application Form PDF
To download the Freshara Agro Exports IPO registration form, simply go to the IPO forms. You can also download a PDF file of ASBA’s IPO form.
Freshara Agro Exports IPO Subscription Status
This IPO subscription kicks off on October 17, 2024! Meanwhile, if you’re looking to stay updated with the latest subscription figures, head over to our IPO Subscription section for real-time data on all ongoing IPOs. Moreover, don’t miss out on the action—track the progress as it happens!
Freshara Agro Exports IPO Allotment Status
To check the allotment status, please visit the Purva website or go to the Allotment Status page.
As well as checking the sales status, first follow the steps below:
- Firstly, access the link given above.
- Second, choose or name the company.
- Then enter your PAN number and beneficiary number. Registration number or CAF number
- Finally, submit details to receive distribution status.
IPO Review
Strengths:
- Strong relationships with contract farmers and suppliers ensure a consistent supply of raw materials, even during the off-season.
- Moreover, by supporting an efficient supply chain, the company is able to maintain long-term and strong customer relationships.
- In addition, its commitment to quality assurance and control has earned the company various awards and accreditations.
- Furthermore, the company boasts advanced in-house processing facilities, focusing on cost competitiveness.
- Lastly, with a comprehensive product portfolio, the company successfully serves customers across the globe.
Risks:
- However, the company has experienced stagnant profit growth, reporting 0% growth over the past three years.
- Similarly, revenue growth has remained flat at 0% during the same period.
- Additionally, the company’s return on equity (ROE) and return on capital employed (ROCE) have both been poor, standing at 0% over the past three years.
- Moreover, the company faces financial challenges, including a high debt-to-equity ratio of 3.99 and a low-interest coverage ratio of 0.
IPO Registrar
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower
Parel (East) Mumbai-400011, Maharashtra India
Phone: +91 022 4961 4132/ 31998810
Email: newissue@purvashare.com
Website: www.purvashare.com
IPO Lead Manager
GYR CAPITAL ADVISORS PRIVATE LIMITED
428, Gala Empire, Near JB Tower,
Drive in Road, Thaltej
Ahmedabad-380 054, Gujarat, India
Phone:+91 877 756 4648
Email: info@gyrcapitaladvisors.com
Website: www.gyrcapitaladvisors.com
Freshara Agro Exports Contact
FRESHARA AGRO EXPORTS LIMITED
Old No.3, New No.9, Puram Prakasam Road,
Balaji Nagar, Royapettah, Chennai– 600014, Tamil Nadu
Phone: +91 44 4357 0138
E-mail: cs@fresharaagroexports.com
Website: www.fresharaagroexports.com
FAQs
The Freshara Agro Exports IPO has an issue size of ₹75.39 crores.
The price band for the Freshara Agro Exports IPO is between ₹110 and ₹116 per share.
The minimum lot size for the Freshara Agro Exports IPO is 1200 shares, which requires an investment of ₹139,200.
The allotment date for Freshara Agro Exports’s IPO is scheduled for October 22, 2024.
The Freshara Agro Exports’s IPO is expected to be listed on the NSE on October 24, 2024.
For the latest updates on the GMP of IPOs, including GMP on IPOs and IPO allotment status, visit IPOGMP.IN. Stay updated with real-time insights on the GMP of Freshara Agro Exports IPO to help you make informed investment decisions.
Additionally, you can track the Allotment IPO Status and the IPO allotment status for Lakshya Powertech on the registrar’s website, Purva.
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