M.V.K. Agro Food Product IPO Review

 
M.V.K. Agro Food Product IPO Review

IPO Open Date: February 29, 2024

IPO Close Date: March 4, 2024

IPO Price: ₹120 per share

Lot Size: 1200 Shares

Listing: March 7, 2024

M.V.K. Agro Food Product is scheduled to hit the market on February 29, 2024 and close on March 04, 2024.
M.V.K. Agro Food Product plans to raise around ₹65.88 Cr through an IPO with a sale of up to 5,490,000 equity shares of ₹10 each. The Retail Shares Offered 50%, Others Shares Offered 50%.

MVK Agro Food Product Limited, established in February 2018, specializes in the production of integrated sugar and related products. With a licensed crushing capacity of 2,500 TCD, the company markets by-products like Molasses, Bagasse, and Pressmud. MVK Agro Food Product Limited distributes its products through intermediaries who further sell to major export houses including PepsiCo Holdings India Private Limited, Parle Biscuits Private Limited, and Britannia Industries Limited. Moreover, the company supplies commodities to export-oriented traders like Sakuma Exports Limited, Indian Sugar Exim Corporation, Garden Court, and HRMM Agro Overseas Private Limited. Operating a zero-waste manufacturing facility, the company efficiently manages generated waste by either selling it or utilizing it for power generation purposes.

Based in Nanded District, Maharashtra, the company reported revenues of ₹6,012.52 lakhs for the six-month period ending September 30, 2023. The fiscal years 2021, 2022, and 2023 saw revenues of ₹2,283.40 lakhs, ₹13,067.11 lakhs, and ₹9,327.65 lakhs respectively. As of September 2023, MVK Agro Food Product Limited employs 160 individuals across various departments within the organization.

M.V.K. Agro Food Product


M.V.K. Agro Food Product IPO Details

M.V.K. Agro Food Product IPO opens on Feb 29, 2024, and closes on Mar 05, 2024. The Listing date for M.V.K. Agro Food Product IPO is on Mar 07, 2024. The price band for IPO is ₹120 per share and lot size of 1200 Shares.

IPO DateFeb 29, 2024 to Mar 04, 2024
Listing DateMar 07, 2024
Price₹120 per share
Lot Size1200 Shares
Issue Size₹65.88 Cr
Face Value₹10 per share

M.V.K. Agro Food Product IPO Tentative Timetable

M.V.K. Agro Food Product opening date is February 29, 2024 and close date is Mach 04, 2024. The IPO allotment date is March 05, 2024. The refund initiation of IPO is on March 06, 2024. The credit of shares in demat account is on March 06, 2024. The listing date is on March 07, 2024.

EventDate
IPO OpeningFeb 29, 2024
IPO ClosingMar 04, 2024
IPO Allotment DateMar 05, 2024
Refund InitiationMar 06, 2024
Shares Credit to DematMar 06, 2024
Lisiting DateMar 07, 2024

M.V.K. Agro Food Product IPO Lot Size

Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹195,000).

CategoryLotsSharesAmount
Retail(Minimum)11200₹144,000
Retail(Maximum)11200₹144,000
HNI (Minimum)22400₹288,000

M.V.K. Agro Food Product IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding64.56%

M.V.K. Agro Food Product IPO Review

M.V.K. Agro Food Product Ltd recently launched its IPO, making waves in the market with a market capitalization of Rs 185.88 Cr. Despite a decline in revenue by -29.18%, the company's Profit After Tax (PAT) saw a significant uptick of 18.02% between the financial years ending on March 31, 2023, and March 31, 2022. The key performance indicators, including a Return on Equity (ROE) of 32.85% and a Debt/Equity ratio of 6.84, highlight the company's strong financial standing and growth potential.

A standout feature of the IPO is the company's plan to utilize the net proceeds for setting up a greenfield unit in Nanded, Maharashtra. This unit aims to focus on the production of Ethanol, as well as the generation and bottling of Bio-CNG and Fertilizer. This strategic move not only underscores M.V.K. Agro Food Product Ltd's commitment to sustainability but also positions it for future growth and expansion in the renewable energy sector. Investors are presented with an opportunity to be part of a company that is at the forefront of innovative ventures in the agro-industry.

With promising post-issue metrics, such as an Earnings Per Share (EPS) of 5.55 and a Price-to-Earnings (P/E) ratio of 21.61, the IPO reflects positively on the company's growth trajectory and potential for profitability. By embarking on a path towards sustainable development and diversification, M.V.K. Agro Food Product Ltd showcases a clear vision for future success. Investors looking to capitalize on a company with strong financial fundamentals and a strategic growth plan may find this IPO an attractive investment opportunity in the evolving landscape of the agro-industry sector.

M.V.K. Agro Food Product IPO Subscription Status (Bidding Details)

Table not found

M.V.K. Agro Food Product IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

M.V.K. Agro Food Product IPO FAQs

What is M.V.K. Agro Food Product IPO?

M.V.K. Agro Food Product is issuing 5,490,000 equity shares with a face value of ₹10 each, totaling up to ₹65.88 Cr. The shares are being offered at a price of ₹120 each, with a minimum order quantity of 1200 shares.

Mas Services Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When M.V.K. Agro Food Product IPO will open?

M.V.K. Agro Food Product will open on February 29, 2024 for QIB, NII, and Retail Investors.

When M.V.K. Agro Food Product IPO will end?

M.V.K. Agro Food Product will end on March 04, 2024.

What is M.V.K. Agro Food Product IPO Size?

M.V.K. Agro Food Product IPO size is 65.88 Cr.

What is M.V.K. Agro Food Product IPO Price Band?

M.V.K. Agro Food Product price band is 120 per share.

What is the M.V.K. Agro Food Product IPO Allotment Date?

M.V.K. Agro Food Product allotment date is March 05, 2024.

What is the M.V.K. Agro Food Product IPO Listing Date?

M.V.K. Agro Food Product listing date is March 07, 2024. The IPO is to be listed on BSE and NSE.

How to M.V.K. Agro Food Product IPO through Zerodha?

To apply for the IPO “M.V.K. Agro Food Product” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply M.V.K. Agro Food Product IPO through Upstox?

To apply for the IPO “M.V.K. Agro Food Product” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check M.V.K. Agro Food Product IPO Allotment Status?

For M.V.K. Agro Food Product IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is M.V.K. Agro Food Product IPO GMP?

You can check out here: M.V.K. Agro Food Product IPO GMP

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