TBI Corn IPO is a book built issue of Rs 44.94 crores. The issue is entirely a fresh issue of 47.81 lakh shares.
TBI Corn IPO opens for subscription on May 31, 2024 and closes on June 4, 2024. The allotment for the TBI Corn IPO is expected to be finalized on Wednesday, June 5, 2024. TBI Corn IPO will list on NSE SME with tentative listing date fixed as Friday, June 7, 2024.
TBI Corn IPO price band is set at ₹90 to ₹94 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹112,800. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹225,600.
Swastika Investmart Ltd and Ekadrisht Capital Private Limited are the book running lead managers of the TBI Corn IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to TBI Corn IPO DRHP for detailed information.
TBI Corn IPO Details
| IPO Date | May 31, 2024 to June 4, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹90 to ₹94 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 4,780,851 shares (aggregating up to ₹44.94 Cr) |
| Fresh Issue | 4,780,851 shares (aggregating up to ₹44.94 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 13,377,605 |
| Share holding post issue | 18,158,456 |
TBI Corn IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
TBI Corn IPO Timeline (Tentative Schedule)
TBI Corn IPO opens on May 31, 2024, and closes on June 4, 2024.
| IPO Open Date | Friday, May 31, 2024 |
| IPO Close Date | Tuesday, June 4, 2024 |
| Basis of Allotment | Wednesday, June 5, 2024 |
| Initiation of Refunds | Thursday, June 6, 2024 |
| Credit of Shares to Demat | Thursday, June 6, 2024 |
| Listing Date | Friday, June 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 4, 2024 |
TBI Corn 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 | ₹112,800 |
| Retail (Max) | 1 | 1200 | ₹112,800 |
| HNI (Min) | 2 | 2,400 | ₹225,600 |
| Lot Size Calculator | |||
TBI Corn IPO Promoter Holding
The promoters of the company are Mr. Yogesh Laxman Rajhans and Mrs. Asha Laxman Rajhans.
| Share Holding Pre Issue | 76.65% |
| Share Holding Post Issue | 57.71% |
About TBI Corn Limited
Incorporated in 2000, TBI Corn Limited is a manufacturer and exporter of Corn Meal Grits. The Company is ISO 9001:2015 and ISO 22000:2018 certified.
The company specialize in producing high-quality Corn/Maize Grits and related products in the Sangli district of Maharashtra, India.
The company sells various products, including fat-free corn grits/meals, corn flakes, stone-free broken maize and corn flour, and turmeric finger.
All products are made without chemical additives or preservatives and are GMO-free.
The company exports its products to various countries such as Dubai, Oman, Jordan, South Africa, and Vietnam.
As of 31st December 2023, the company has a total of 48 employees
TBI Corn Limited Financial Information (Restated)
TBI Corn Limited’s revenue increased by 39.07% and profit after tax (PAT) rose by 1419.24% 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 | 9,963.40 | 12,162.04 | 4,317.63 | 4,254.86 |
| Revenue | 7,120.28 | 14,042.63 | 10,097.26 | 6,776.38 |
| Profit After Tax | 666.75 | 686.09 | 45.16 | 23.93 |
| Net Worth | 3,964.81 | 2,677.81 | 683.24 | 512.42 |
| Reserves and Surplus | 2,627.05 | 1,677.49 | ||
| Total Borrowing | 5,140.73 | 6,352.82 | 2,549.48 | 2,300.94 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of TBI Corn IPO is Rs 170.69 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.13 | 7.34 |
| P/E (x) | 18.33 | 12.8 |
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 (TBI Corn IPO Objectives)
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- Expansion of Existing Unit;
- To Meet Incremental Working Capital Requirement;
- General Corporate Purpose
TBI Corn IPO Prospectus
TBI Corn Limited Contact Details
TBI Corn Limited
A5/3 & A5/4, MIDC,
Miraj, Tal- Miraj
Dist- Sangli 416410
Phone: (0233) 2644950
Email: cs@tbicorn.com
Website: https://tbicorn.com/
TBI Corn IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: tbi.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/