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One of the core competencies of Freshara Agro Exports IPO is to make and export pickles and raw materials for pickles to different countries.
Freshara Agro Exports, which is a Chennai-based SME, has evinced significant investor interest in the run-up to the issue as is evident from the GMP (grey market premium). (Picture Credit: depositphotos)
Freshara Agro Exports Limited, was set up in 2015 in Chennai. It procures, processes and exports preserved baby corn, jalapenos, and other pickled vegetables to make pickles. It has entered contract farming agreements with farmers in Tamil Nadu, Karnataka and Andhra Pradesh.
Bids for Freshara Agro Exports IPO opens on Thursday, October 17. The process of subscription will come to a close on Monday, October 21, 2024. The management of the company seeks to raise Rs 75.39 crore through the issue of 64.99 lakh fresh shares only. The promoters of Freshara Agro Exports are not selling any of their holdings.
Freshara Agro Exports IPO price, lot size
Each share of Freshara Agro Exports has been priced at Rs 110-116. According to the IPO document, a retail investor has to apply for a minimum of 1,200 shares. Therefore, the minimum amount that a retail investor has to commit is Rs 139,200. For an HNI, the minimum application money is Rs 278,400 (for twice the number of shares).
Freshara Agro Exports GMP, allotment
Freshara Agro Exports IPO GMP indicates significant investor interest in the SME issue. According to investorgain, the GMP (grey Market Premium) stood at Rs 75 on October 17 morning. Considering the upper end of the price band at Rs 116, the GMP indicates a listing gain of 64.66%. However, GMP is only an unofficial estimate, can change with time and doesn’t guarantee anything.
The date of allotment of Freshara Agro Exports shares has been fixed on Tuesday, October 22. The listing of the company’s shares will take place on NSE SME segment on Thursday, October 24.
Freshara Agro Exports financials
Freshara Agro Exports recorded revenues of Rs 107.46 crore, Rs 198.01, Rs 127 crore and Rs 118.40 crore as on September 30, 2024, March 31, 2024, March 31, 2023 and March 31, 2022. The net profit for the 6 months ending on September 30, 2024 and the FY24, FY23 and FY22 stood at Rs 11.37 crore, Rs 21.82 crore, Rs 9.08 crore and Rs 0.97 crore respectively.
GYR Capital Advisors has been appointed as the book running lead manager for the IPO. Registrar to the issue is Purva Sharegistry India while Giriraj Stock Broking is the market maker.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
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