Tapi Fruit Processing Limited is a Manufacturer of Jelly Based Fruit Products such as Candied, Crystallised and Glazed Fruits, Fruit Bar, Fruit Jellies, Fruit Jam & Fruit Leathers, Chutney & Sauces, Beverages, Fruit crush, Fruit Syrups and Nutraceutical products such as vitamin Gummies. The company was started in 1999 by its founder director Ghanshyam Lukhi as a Proprietorship firm namely Tapi Food Products.
The products of the company are manufactured in-house at the manufacturing facilities located in Pipodara village, Distt. Surat, Gujarat. Tapi Fruit Processing Limited has received several quality certifications and accreditations, including certification from the ISO 22000:2018 and the Food Safety and Standards Authority of India (FSSAI).
The company has developed a large pan-India distribution network and during the Financial Year ended March 31, 2022, the company distributed products across 28 states and Union Territories in India, through the widespread network of 60 super-stockist.
Strengths :
- The company believes they are among the few organized players in the Candied Fruit & Fruit Jellies segment of confectionaries with a well-established distribution network.
- Wide spread and established sales and distribution network.
- The company has state-of-the-art manufacturing infrastructure, superior sourcing and stringent quality and food safety procedures.
- Diversified Product Portfolio.
- Experienced promoter and management team.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-20 | 589.18 | 1145.69 | -0.86 | 17.36 | -7.64 |
| 31-Mar-21 | 737.4 | 1312.5 | 10.06 | 27.42 | 2.42 |
| 31-Mar-22 | 802.88 | 1522.09 | 15.6 | 43.02 | 18.02 |
| Amount in ₹ Lakhs |
Objects of the Issue
The Net Proceeds from the Issue are proposed to be utilised by the Company for the following objects:
1. Meeting incremental working capital requirements
2. Repayment / prepayment of certain borrowings availed by the Company
3. General corporate purposes
Tapi Fruit Processing IPO Details
| Tapi Fruit Processing IPO Date | Sep 12, 2022 to Sep 14, 2022 |
| Tapi Fruit Processing IPO Face Value | ₹10 per share |
| Tapi Fruit Processing IPO Price | ₹48 per share |
| Tapi Fruit Processing IPO Lot Size | 3000 Shares |
| Issue Size | 1,086,000 shares of ₹10 (aggregating up to ₹5.21 Cr) |
| Fresh Issue | 1,086,000 shares of ₹10 (aggregating up to ₹5.21 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| NII (HNI) Shares Offered | 50% of the net offer |
| Retail Shares Offered | 50% of the net offer |
| Company Promoters | The Promoters of the Company are Ghanshyambhai Laljibhai Lukhi and Ashokkumar Laljibhai Lukhi. |
Tapi Fruit Processing IPO Timeline
Tapi Fruit Processing IPO opens on Sep 12, 2022, and closes on Sep 14, 2022. The Tapi Fruit Processing IPO bid date is from Sep 12, 2022 10.00 A.M. to Sep 14, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Tapi Fruit Processing IPO Opening Date | Sep 12, 2022 |
| Tapi Fruit Processing IPO Closing Date | Sep 14, 2022 |
| Basis of Allotment | Sep 19, 2022 |
| Initiation of Refunds | Sep 20, 2022 |
| Credit of Shares to Demat | Sep 21, 2022 |
| Tapi Fruit Processing IPO Listing Date | Sep 22, 2022 |
Tapi Fruit Processing IPO Lot Size
The Tapi Fruit Processing IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹144,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹144,000 |
| Retail (Max) | 1 | 3000 | ₹144,000 |
Tapi Fruit Processing IPO Promoter Holding
| Pre Issue Share Holding | 99.94% |
| Post Issue Share Holding |
Tapi Fruit Processing IPO Review
The company has posted average financial performance with pressure on margins. Based on its FY22 earnings, the issue is exorbitantly priced. Higher issue expenses show funding arrangements ahead of IPO. A lower equity capital base post IPO indicates a longer gestation period for migration. There is no harm in giving this pricy issue a – MISS. Read detail review…
Tapi Fruit Processing IPO Prospectus
Company Contact Information
Tapi Fruit Processing Ltd
Office No. – 212 to 214,
Sunrise Chambers, Near Ashok Colony,
Mini Bazar, Varachha Road, Surat – 395006
Phone: 9825503717
Email: cs@tapifood.com
Website: https://www.tapifood.com/
Tapi Fruit Processing IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com