City Crops Agro IPO is a fixed price issue of Rs 15.00 crores. The issue is entirely a fresh issue of 60 lakh shares.
City Crops Agro IPO bidding started from September 26, 2023 and ended on September 29, 2023. The allotment for City Crops Agro IPO was finalized on Thursday, October 5, 2023. City Crops Agro IPO will list on BSE SME with tentative listing date fixed as Tuesday, October 10, 2023.
City Crops Agro IPO price is ₹25 per share. The minimum lot size for an application is 6000 Shares. The minimum amount of investment required by retail investors is ₹150,000. The minimum lot size investment for HNI is 2 lots (12,000 shares) amounting to ₹300,000.
Turnaround Corporate Advisors Private Limited is the book running lead manager of the City Crops Agro IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for City Crops Agro IPO is Mnm Stock Broking.
Refer to City Crops Agro IPO RHP for detailed information.
City Crops Agro IPO Details
| IPO Date | September 26, 2023 to September 29, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹25 per share |
| Lot Size | 6000 Shares |
| Total Issue Size | 6,000,000 shares (aggregating up to ₹15.00 Cr) |
| Fresh Issue | 6,000,000 shares (aggregating up to ₹15.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 10,316,760 |
| Share holding post issue | 16,316,760 |
| Market Maker portion | 300,000 shares Mnm Stock Broking |
City Crops Agro IPO Reservation
City Crops Agro IPO a total of 6,000,000 shares are offered. NII: 2,850,000 (47.50%), RII: 2,850,000 (47.50%).
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 300,000 (5.00%) |
| Other Shares Offered | 2,850,000 (47.50%) |
| Retail Shares Offered | 2,850,000 (47.50%) |
| Total Shares Offered | 6,000,000 (100%) |
City Crops Agro IPO Timeline (Tentative Schedule)
City Crops Agro IPO opens on September 26, 2023, and closes on September 29, 2023.
| IPO Open Date | Tuesday, September 26, 2023 |
| IPO Close Date | Friday, September 29, 2023 |
| Basis of Allotment | Thursday, October 5, 2023 |
| Initiation of Refunds | Friday, October 6, 2023 |
| Credit of Shares to Demat | Monday, October 9, 2023 |
| Listing Date | Tuesday, October 10, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 29, 2023 |
City Crops Agro IPO Lot Size
Investors can bid for a minimum of 6000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6000 | ₹150,000 |
| Retail (Max) | 1 | 6000 | ₹150,000 |
| HNI (Min) | 2 | 12,000 | ₹300,000 |
| Lot Size Calculator |
City Crops Agro IPO Promoter Holding
Mr. Kaupilkumar Hasmukhbhai Shah and Mrs. Shitalben Kaupilkumar Shah are the company’s promoters.
| Share Holding Pre Issue | 86.51% |
| Share Holding Post Issue | 54.70% |
About City Crops Agro Limited
Incorporated in 2013, City Crops Agro Limited, previously known as Bhagya Agro-Care Private Limited, is engaged in the business of trading products like seeds, agricultural produces mainly Rice, Wheat, Onions, Potato, Tomato, Isabgol, and Pulses.
The company sources the agricultural products from the manufacturers by paying an advance payment with its labeling and then these products are sold to its network of distributors. In contract manufacturing, the company leases agricultural land on lease and cultivates Cucumber, Onion, and Castor to meet the demand in the market. The company currently has around 47.31 acres of land for agricultural production.
City Crops Agro is located in Ahmedabad, Gujarat, and employes over 8 employees.
City Crops Agro recorded Rs. 1774.88 Lacs and Rs. 348.90 Lacs in revenue from operations in fiscal 2022 and 2021 respectively.
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 246.99 | 1,298.96 | 1,402.71 |
| Revenue | 348.90 | 1,775.69 | 2,462.50 |
| Profit After Tax | 4.32 | 48.41 | 117.08 |
| Net Worth | 5.08 | 1,077.14 | 1,194.25 |
| Reserves and Surplus | 4.08 | 45.50 | 162.57 |
| Total Borrowing | 0.51 | 5.01 | 2.01 |
Amount in ₹ Lakhs
Key Performance Indicator
City Crops Agro IPO Market Cap is Rs 40.79 Cr and P/E (x) is 22.03.
| KPI | Values |
|---|---|
| P/E (x) | 22.03 |
| Post P/E (x) | 34.72 |
| Market Cap (₹ Cr.) | 40.79 |
| EPS (Rs) | 1.13 |
| RoNW | 9.80% |
Check City Crops Agro IPO Peer Comparison here.
Objects of the Issue (City Crops Agro IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- To meet the working capital requirements of the company.
- General Corporate Purposes.
- To meet the Issue Expenses.
City Crops Agro IPO Review (Avoid)
[Dilip Davda] The company trades in agricultural products with third-party contracts. It is operating in a highly competitive and fragmented segment. It has fared on an average basis. Based on FY23 earnings, the issue is greedily priced. There is no harm in skipping this pricey bet. Read detail review…
City Crops Agro IPO Subscription Status (Bidding Detail)
The City Crops Agro IPO is subscribed 3.47 times on Sep 29, 2023 7:02:00 PM. The public issue subscribed 4.78 times in the retail category, times in the QIB category, and 2.15 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.15 |
| Retail | 4.78 |
| Total | 3.47 |
Total Application : 1,984 (4.18 times)
City Crops Agro IPO Contact Details
City Crops Agro Limited
A-208, Titanium City Centre,
Near Sachin Tower, 100 Ft Ring Road,
Satellite, Ahmedabad – 380015
Phone: +91 9428714136
Email: cs@citycropagro.in
Website: https://citycropagro.in/
City Crops Agro IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php