TGIF Agribusiness IPO Review

 
TGIF Agribusiness IPO Review

IPO Open Date: May 8, 2024

IPO Close Date: May 10, 2024

IPO Price: ₹93 per share

Lot Size: 1200 Shares

Listing: May 15, 2024

TGIF Agribusiness is scheduled to hit the market on May 08, 2024 and close on May 10, 2024. TGIF Agribusiness plans to raise around ₹6.39 Cr through an IPO with a sale of up to 687,600 equity shares of ₹10 each. The Retail offered 50%, Others Shares Offered 50%.

TGIF Agribusiness, formerly known as ARV Farmpro LLP, was established in 2014 and specializes in open field cultivation of a variety of fruits and vegetables. The company's agricultural activities include growing pomegranates, dragon fruit, and timber plantations like sagwan trees, along with seasonal crops such as lemons, watermelons, and chilies. Situated in Ajari, Kasindra, and Kojra regions of Rajasthan, the company's farmlands span over 110 acres, leased from individuals like Niraj Chhaganraj Gemawat and Vipin Moharir. TGIF Agribusiness primarily operates on a business-to-business (B2B) model, supplying its produce to retailers, wholesalers, retail chains, hypermarkets, and mandis. Additionally, the company is planning to introduce a direct-to-customer (B2C) model named Direct2home Service to expand its market reach.

By the end of November 30, 2023, TGIF Agribusiness Limited had a workforce of approximately 8 employees across various roles within the organization. This small but dedicated team contributes to the company's operations and supports its growth strategies in the agricultural sector. With a focus on agricultural production and distribution, TGIF Agribusiness continues to adapt its business models to meet the evolving needs of both business clients and end consumers, aiming to establish a strong presence in the market while maintaining quality standards in its cultivation and sales practices.

TGIF Agribusiness IPO Review



TGIF Agribusiness IPO Details

TGIF Agribusiness IPO opens on May 08, 2024, and closes on May 10, 2024. The Listing date for TGIF Agribusiness IPO is on May 15, 2024. The price band for IPO is ₹93 per share and lot size of 1200 Shares.

IPO DateMay 08, 2024 to May 10, 2024
Listing DateMay 15, 2024
Price₹93 per share
Lot Size1200 Shares
Issue Size₹6.39 Cr
Face Value₹10 per share

TGIF Agribusiness IPO Tentative Timetable

TGIF Agribusiness opening date is May 08, 2024 and close date is May 10, 2024. The IPO allotment date is May 13, 2024. The refund initiation of IPO is on May 14, 2024. The credit of shares in demat account is on May 14, 2024. The listing date is on May 15, 2024.

EventDate
IPO OpeningMay 08, 2024
IPO ClosingMay 10, 2024
IPO Allotment DateMay 13, 2024
Refund InitiationMay 14, 2024
Shares Credit to DematMay 14, 2024
Lisiting DateMay 15, 2024

TGIF Agribusiness 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 ₹111,600).

CategoryLotsSharesAmount
Retail(Minimum)11200₹111,600
Retail(Maximum)11200₹111,600
HNI (Minimum)22400₹223,200

TGIF Agribusiness IPO Promoter Holding

Pre Issue Share Holding99.80%
Post Issue Share Holding73.28%

TGIF Agribusiness IPO Review

TGIF Agribusiness Ltd. is all set to launch its maiden IPO, offering 687,600 equity shares at a fixed price of Rs. 93 each to raise Rs. 6.40 crore. The company, primarily involved in horticulture, operates on leased farmlands spanning over 110 acres in Rajasthan. With a focus on pomegranate farming contributing over 95% of its revenue, TGIF also cultivates dragon fruits, Sagwan trees, among others. Its unique farming practices ensure quality produce, meeting the rising consumer demand for fruits.

The financial performance of TGIF Agribusiness Ltd. has been stable over the past few years, with consistent growth in total income and net profits. However, the IPO seems fully priced based on the FY24 earnings, signaling a longer gestation period for returns. Investors should carefully consider the company's future sustainability and growth prospects before investing. With a detailed plan to utilize the IPO proceeds for agricultural equipment, irrigation systems, working capital, and general corporate purposes, TGIF aims to enhance its operational capabilities and market presence post-listing.

In comparison with its listed peers, TGIF Agribusiness Ltd. presents a unique investment opportunity in the horticulture sector. While the company's dividend policy remains conservative, its focus on quality farming practices and expanding product offerings could drive future growth. Investors looking for medium to long-term rewards in the horticulture industry may find TGIF's IPO worth considering, provided they conduct thorough due diligence and assess the company's competitive positioning within the market.

TGIF Agribusiness IPO Subscription Status (Bidding Details)

Table not found

TGIF Agribusiness 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

TGIF Agribusiness IPO FAQs

What is TGIF Agribusiness IPO?

TGIF Agribusiness is issuing 687,600 equity shares with a face value of 10 each, totaling up to ₹6.39 Cr. The shares are being offered at a price of ₹93 each, with a minimum order quantity of 1200 shares.

Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When TGIF Agribusiness IPO will open?

TGIF Agribusiness will open on May 08, 2024 for QIB, NII, and Retail Investors.

When TGIF Agribusiness IPO will end?

TGIF Agribusiness will end on May 10, 2024.

What is TGIF Agribusiness IPO Size?

TGIF Agribusiness IPO size is 6.39 Cr.

What is TGIF Agribusiness IPO Price Band?

TGIF Agribusiness price band is ₹93 per share.

What is the TGIF Agribusiness IPO Allotment Date?

TGIF Agribusiness allotment date is May 13, 2024.

What is the TGIF Agribusiness IPO Listing Date?

TGIF Agribusiness listing date is May 15, 2024. The IPO is to be listed on BSE and NSE.

How to TGIF Agribusiness IPO through Zerodha?

To apply for the IPO “TGIF Agribusiness” 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 TGIF Agribusiness IPO through Upstox?

To apply for the IPO “TGIF Agribusiness” 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 TGIF Agribusiness IPO Allotment Status?

For TGIF Agribusiness IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is TGIF Agribusiness IPO GMP?

You can check out here: TGIF Agribusiness IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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