M.V.K. Agro Food IPO is a fixed price issue of Rs 65.88 crores. The issue is entirely a fresh issue of 54.9 lakh shares.
M.V.K. Agro Food IPO opens for subscription on February 29, 2024 and closes on March 4, 2024. The allotment for the M.V.K. Agro Food IPO is expected to be finalized on Tuesday, March 5, 2024. M.V.K. Agro Food IPO will list on NSE SME with tentative listing date fixed as Thursday, March 7, 2024.
M.V.K. Agro Food IPO price is ₹120 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹288,000.
Horizon Management Private Limited is the book running lead manager of the M.V.K. Agro Food IPO, while Mas Services Limited is the registrar for the issue. The market maker for M.V.K. Agro Food IPO is Nikunj Stock Brokers.
Refer to M.V.K. Agro Food IPO RHP for detailed information.
M.V.K. Agro Food IPO Details
| IPO Date | February 29, 2024 to March 4, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹120 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 5,490,000 shares (aggregating up to ₹65.88 Cr) |
| Fresh Issue | 5,490,000 shares (aggregating up to ₹65.88 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 10,000,000 |
| Share holding post issue | 15,490,000 |
| Market Maker portion | 274,800 shares Nikunj Stock Brokers |
M.V.K. Agro Food IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
M.V.K. Agro Food IPO Timeline (Tentative Schedule)
M.V.K. Agro Food IPO opens on February 29, 2024, and closes on March 4, 2024.
| IPO Open Date | Thursday, February 29, 2024 |
| IPO Close Date | Monday, March 4, 2024 |
| Basis of Allotment | Tuesday, March 5, 2024 |
| Initiation of Refunds | Wednesday, March 6, 2024 |
| Credit of Shares to Demat | Wednesday, March 6, 2024 |
| Listing Date | Thursday, March 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 4, 2024 |
M.V.K. Agro Food IPO Lot Size
Investors can bid for a minimum of 1200 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 | 1200 | ₹144,000 |
| Retail (Max) | 1 | 1200 | ₹144,000 |
| HNI (Min) | 2 | 2,400 | ₹288,000 |
| Lot Size Calculator | |||
M.V.K. Agro Food IPO Promoter Holding
The promoters of the company are Marotrao Vyankatrao Kawale, Sagarbai Marotrao Kawale, Ganeshrao Vyankatrao Kawale, Kishanrao Vyankatarao Kawale and Sandip Marotrao Kawale
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 64.56% |
About M.V.K. Agro Food Product Ltd
Incorporated in February 2018, MVK Agro Food Product Limited is a manufacturer of integrated sugar and other related products. The company has a licensed crushing capacity of 2,500 TCD and sells its by-products, Molasses, Bagasse, and Pressmud.
The company sells its products through brokers who, in turn, sell to export houses such as PepsiCo Holdings India Private Limited, Parle Biscuits Private Limited and Britannia Industries Limited. In addition to selling its products to brokers, the company also supplies commodities to export-oriented traders like Sakuma Exports Limited, Indian Sugar Exim Corporation, Garden Court, and HRMM Agro Overseas Private Limited.
The company operates a zero-waste manufacturing facility. Waste generated is either sold or used to generate power.
The revenues from operations for the six months ended September 30, 2023, and the fiscal years 2023, 2022, and 2021 were ₹6,012.52 lakhs, ₹9,327.65 lakhs, ₹13,067.11 lakhs, and ₹2,283.40 lakhs, respectively.
The company’s manufacturing facility is located in Nanded District, Maharashtra.
As of September 2023, the company has 160 employees across various departments.
M.V.K. Agro Food Product Ltd Financial Information (Restated)
M.V.K. Agro Food Product Ltd’s revenue decreased by -29.18% and profit after tax (PAT) rose by 18.02% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 14,804.05 | 15,471.93 | 11,602.06 | 11,445.70 |
| Revenue | 6,044.36 | 9,393.63 | 13,263.56 | 2,583.10 |
| Profit After Tax | 430.07 | 377.45 | 319.81 | 140.41 |
| Net Worth | 1,767.74 | 1,337.67 | 960.22 | 640.41 |
| Reserves and Surplus | 1,267.74 | 837.67 | 460.22 | 140.41 |
| Total Borrowing | 6,281.23 | 9,156.10 | 6,001.32 | 7,496.33 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of M.V.K. Agro Food IPO is Rs 185.88 Cr.
| KPI | Values |
|---|---|
| ROE | 32.85% |
| ROCE | 13.44% |
| Debt/Equity | 6.84 |
| RoNW | 32.85% |
| P/BV | 4.49 |
Check M.V.K. Agro Food IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.77 | 5.55 |
| P/E (x) | 31.79 | 21.61 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (M.V.K. Agro Food IPO Objectives)
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Setting up a greenfield unit in Nanded, Maharashtra for (i) manufacturing Ethanol and (ii) generation and bottling of Bio-CNG and Fertilizer.
- General corporate purposes.
M.V.K. Agro Food IPO Review (May apply)
[Dilip Davda] The company is primarily in sugar productions and has few other by-products. It is adding ethanol plant to tap the rising demand for this by-product. The company marked inconsistency in its top and bottom lines for the reported periods. Based on its FY24 annualized super earnings, the issue appears aggressively priced. Well-informed/cash surplus investors may park funds for the medium to long term rewards. Read detail review..
M.V.K. Agro Food Product Ltd Contact Details
M.V.K. Agro Food Product Ltd
GUT No. 44 and 46
Kusumnagar, At Post
Waghalwada, Umari, Nanded – 431 807
Phone: +91 862 309 4480
Email: info@mvkagrofood.com
Website: https://mvkagrofood.com/
M.V.K. Agro Food IPO Registrar
Mas Services Limited
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp