Incorporated in 2015, Proventus Agrochem Limited is an integrated health food brand. The company has its presence in the entire range of dry fruits, nuts, seeds, and berries. The product of company also includes various healthy snacking products across the value chain.
The motto of Proventus is to create expertise in healthy food products. They strive at building the revenue stream by moving across the value chain from origination to distribution and creating an integrated business model – from “farm to homes”.
The company is attempting to fill the vacuum in the healthy snacking range in the Indian market, especially in the dry fruits, nuts, seeds, and berries category.
The products of the company are marketed under the brand – “ProV”.
The product range of Proventus Agrochem Limited includes Nuts, Dry Fruits, Seeds, and Berries like:
- Almonds
- Pistachios
- Cashews
- Walnuts
- Raisins
- Other Nuts, Dry Fruits, Seeds and Berries
The Group Proventus Agrochem Limited operates through its Material Subsidiaries like Prov Foods Private Limited, and Proventus Retail Private Limited.
Proventus Agrocom IPO Details
| IPO Date | May 24, 2023 to May 26, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹771 per share |
| Lot Size | 160 Shares |
| Total Issue Size | 902,000 shares (aggregating up to ₹69.54 Cr) |
| Fresh Issue | 671,853 shares (aggregating up to ₹51.80 Cr) |
| Offer for Sale | 230,147 shares of ₹10 (aggregating up to ₹17.74 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 2,755,768 |
| Share holding post issue | 3,427,621 |
Proventus Agrocom IPO Reservation
| Other Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
| Market Maker portion | 45,100 shares (Ajcon Global Services) |
Proventus Agrocom IPO Timetable (Tentative)
Proventus Agrocom IPO opens on May 24, 2023, and closes on May 26, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Wednesday, 24 May 2023 |
| Closing Date | Friday, 26 May 2023 |
| Basis of Allotment | Wednesday, 31 May 2023 |
| Initiation of Refunds | Thursday, 1 June 2023 |
| Credit of Shares to Demat | Friday, 2 June 2023 |
| Listing Date | Monday, 5 June 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 26, 2023 |
Proventus Agrocom IPO Lot Size
The Proventus Agrocom IPO lot size is 160 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 160 | ₹123,360 |
| Retail (Max) | 1 | 160 | ₹123,360 |
| HNI (Min) | 2 | 320 | ₹246,720 |
| Lot Size Calculator |
Proventus Agrocom IPO Promoter Holding
Durga Prasad Jhawar, Deepak Kumar Agrawal, Shalin Sanjiv Khanna, and Shree JMD Investment Advisors LLP are the Promoters of the Company.
| Pre Issue Share Holding | 92.29% |
| Post Issue Share Holding | 70.84% |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 8,936.94 | 90,089.01 | -2,190.46 | 5,663.58 | 4,731.01 | 1,728.54 |
| 31-Mar-21 | 8,843.36 | 30,173.92 | 187.90 | 5,844.50 | 4,911.92 | 2,940.72 |
| 31-Mar-22 | 10,131.13 | 40,434.57 | 114.03 | 5,966.75 | 5,034.17 | 3,444.05 |
| 31-Dec-22 | 9,735.37 | 31,909.63 | 189.82 | 6,167.31 | 5,234.74 | 3,061.13 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 186.23 |
| Market Cap (₹ Cr.) | 264.27 |
| ROE (%) | 0.04 |
| ROCE (%) | 0.05 |
| Debt/Equity | 0.56 |
| EPS (Rs) | 4.14 |
| RoNW (%) | 3.08 |
Check Proventus Agrocom IPO Peer Comparison here.
Objects of the Issue
The company proposes to utilize the Net Proceeds towards funding the following objectives:
- Funding working capital requirements of the Company;
- Funding working capital requirements of the material subsidiary namely, Prov Foods Private Limited;
- General Corporate Purposes.
Proventus Agrocom IPO Review (Avoid)
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many big players around. Its recent performance marked inconsistency in its top and bottom lines. Based on FY23 earnings, the issue appears aggressively priced. Post-IPO, tiny paid-up equity capital also indicates longer gestation for migration to the mainboard. There is no harm in skipping this pricey bet. Read detail review…
Proventus Agrocom IPO Prospectus
Company Contact Information
Proventus Agrocom Limited
Unit 515, 5th Floor, C Wing, 1 MTR Cabin, Atrium,
Village Mulgaon, MV Road, Andheri (East),
Near Acme Plaza, Mumbai – 400 069
Phone: +91 22 6211 0900
Email: cs@proventusagro.com
Website: http://www.proventusagro.com/
Proventus Agrocom IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/