TGIF Agribusiness IPO is a fixed price issue of Rs 6.39 crores. The issue is entirely a fresh issue of 6.88 lakh shares.
TGIF Agribusiness IPO opens for subscription on May 8, 2024 and closes on May 10, 2024. The allotment for the TGIF Agribusiness IPO is expected to be finalized on Monday, May 13, 2024. TGIF Agribusiness IPO will list on BSE SME with tentative listing date fixed as Wednesday, May 15, 2024.
TGIF Agribusiness IPO price is ₹93 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹111,600. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹223,200.
Hem Securities Limited is the book running lead manager of the TGIF Agribusiness IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for TGIF Agribusiness IPO is Hem Finlease.
Refer to TGIF Agribusiness IPO RHP for detailed information.
TGIF Agribusiness IPO Details
| IPO Date | May 8, 2024 to May 10, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹93 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 687,600 shares (aggregating up to ₹6.39 Cr) |
| Fresh Issue | 687,600 shares (aggregating up to ₹6.39 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,900,000 |
| Share holding post issue | 2,587,600 |
| Market Maker portion | 34,800 shares Hem Finlease |
TGIF Agribusiness IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
TGIF Agribusiness IPO Timeline (Tentative Schedule)
TGIF Agribusiness IPO opens on May 8, 2024, and closes on May 10, 2024.
| IPO Open Date | Wednesday, May 8, 2024 |
| IPO Close Date | Friday, May 10, 2024 |
| Basis of Allotment | Monday, May 13, 2024 |
| Initiation of Refunds | Tuesday, May 14, 2024 |
| Credit of Shares to Demat | Tuesday, May 14, 2024 |
| Listing Date | Wednesday, May 15, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 10, 2024 |
TGIF Agribusiness 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 | ₹111,600 |
| Retail (Max) | 1 | 1200 | ₹111,600 |
| HNI (Min) | 2 | 2,400 | ₹223,200 |
| Lot Size Calculator | |||
TGIF Agribusiness IPO Promoter Holding
Mr. Niraj Chhaganraj Gemawat and Ms. Rachana Niraj Gemawat are the company’s promoters.
| Share Holding Pre Issue | 99.80% |
| Share Holding Post Issue | 73.28% |
About TGIF Agribusiness Limited
Founded in 2014, TGIF Agribusiness Limited, previously known as ARV Farmpro LLP, is active in the open field cultivation of fruit and vegetable varieties.
The company is engaged in the cultivation of pomegranates, dragon fruit and timber plantations, i.e. sagwan trees. The company also grows and harvests seasonal vegetables and fruits such as lemons, watermelons and chilies.
The company’s farmlands are located in Ajari, Kasindra and Kojra in Rajasthan and cover an area of over 110 acres. The land has been leased from Niraj Chhaganraj Gemawat (promoter), Rachna Gemawat (promoter), Niraj Chhaganraj Gemawat HUF and Vipin Moharir.
The company sells most of its products through a B2B business model to retailers, wholesalers, retail chains, hypermarkets and mandis. The company also plans to sell its products directly to customers through a B2C model called Direct2home Service.
As of November 30, 2023, the company employed around 8 people at various levels of the organization.
TGIF Agribusiness Limited Financial Information (Restated)
TGIF Agribusiness Limited’s revenue increased by 12.14% and profit after tax (PAT) rose by 12.63% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Nov 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 282.32 | 187.52 | 65.33 | 291.62 |
| Revenue | 171.79 | 232.28 | 207.14 | 181.59 |
| Profit After Tax | 81.41 | 130.07 | 115.48 | 38.18 |
| Net Worth | 190.00 | 175.89 | 45.82 | 257.91 |
| Total Borrowing | 67.30 | |||
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of TGIF Agribusiness IPO is Rs 24.06 Cr.
KPI as of November 30, 2024.
| KPI | Values |
|---|---|
| RoNW | 42.85 |
| P/BV | 9.3 |
| PAT Margin (%) | 47.7 |
Check TGIF Agribusiness IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.85 | 4.72 |
| P/E (x) | 13.58 | 19.71 |
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 November 30, 2023 that is available in RHP.
Objects of the Issue (TGIF Agribusiness IPO Objectives)
The company intends to utilize the proceeds of the Issue to meet the following objects:
- Purchase of agricultural equipment & irrigation system;
- To meet Working Capital requirements, and
- General Corporate Purpose.
TGIF Agribusiness Limited Contact Details
TGIF Agribusiness Limited
A/52, Fairy Society, 5th Floor,
Corporate House, Bodakdev,
Ahmedabad – 380054
Phone: +079 49887770
Email: cs@tgifagribusiness.com
Website: http://www.tgifagri.com/
TGIF Agribusiness IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html