TBI Corn Limited (NSE SME)
May 31, 2024 - Jun 4, 2024
| Price | ₹90 - ₹94 |
| Premium | ₹71 |
|---|---|
| Lot size | 1200 |
| Allotment | Jun 5, 2024 |
| Listing | Jun 7, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 1200 | 112800 | 1327 |
| HNI | 2 | 2400 | 225600 | 568 |
Last updated on 04-Jun-2024 17:18:02
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 908800 | 73983600 | 81.41 |
| NIB | 681600 | 352284000 | 516.85 |
| RETAIL | 1592000 | 309787200 | 194.59 |
| Total | 3182400 | 736054800 | 231.29 |
| Retail Apps | 258156 | © IPO Premium | |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹65.22 | @8% ₹74.54 | @9% ₹83.86 | @10% ₹93.17 | @11% ₹102.49 | @12% ₹111.81 |
Anchor Details
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
|---|---|---|---|
| Next orbit Ventures Fund | 638400 | 47.00% | 6.00 |
| Persistent Growth Fund - Varsu India Growth Story Scheme 1 | 319200 | 23.50% | 3.00 |
| India Emerging Giants Fund Limited | 266400 | 19.61% | 2.50 |
| Saint Capital Fund | 134400 | 9.89% | 1.26 |
| Total | 1358400 | 100.00% | 12.77 |
TBI Corn IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Retail | 33.30% | 1592000 |
| NII (HNI) | 14.26% | 681600 |
| Anchor | 28.41% | 1358400 |
| QIB | 19.00% | 908800 |
| Market Maker | 5.02% | 240000 |
| Total | 100.00% | 4780800 |
TBI Corn IPO Details
| Issue Size | 4,780,800 shares (aggregating up to ₹44.94 Cr) |
| Fresh Issue | 4,780,800 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 | 18,158,405 |
| Market Maker Portion | 240,000 Shares Ss Corporate Securities |
Key Performance Indicator
| KPI | Dec-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 18.84% | 37.79% | 4.89% |
| ROCE | 18.65% | 25.14% | 3.47% |
| RONW | 18.84% | 37.97% | 4.89% |
| D/E | 0.43 | 0.83 | 0.87 |
| EPS (Pre IPO) | 5.13 | ||
| P/BV | 0.4 | ||
| P/E (Pre IPO) | 18.33 |
Company Financials
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 | Sep 2023 | Mar 2023 | Mar 2022 | 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 | 666.75 | 686.09 | 45.16 | 23.93 |
| Net Worth | 3,964.81 | 2,677.81 | 683.24 | 512.42 |
| Reserves | 2,627.05 | 1,677.49 | ||
| Borrowing | 5,140.73 | 6,352.82 | 2,549.48 | 2,300.94 |
| Amount in ₹ Lakhs | ||||
About Company
Incorporated in 2000, TBI Corn Limited is a distinguished manufacturer and exporter of high-quality Corn Meal Grits, based in the Sangli district of Maharashtra, India. The company is ISO 9001:2015 and ISO 22000:2018 certified, underscoring its commitment to quality and food safety. TBI Corn Limited offers a diverse range of products, including fat-free corn grits/meals, corn flakes, stone-free broken maize, corn flour, and turmeric finger, all produced without chemical additives or preservatives and guaranteed GMO-free. The company's products are exported to various international markets, including Dubai, Oman, Jordan, South Africa, and Vietnam. As of December 31, 2023, TBI Corn Limited employs a dedicated team of 48 individuals, driving its operations and maintaining its reputation for excellence in the industry.
Strength Factors
Enduring Values and Integrity: The Company upholds strong enduring values and integrity, ensuring ethical business practices and building trust with stakeholders.
Customer Focus: A dedicated customer focus allows TBI Corn Limited to meet and exceed customer expectations, fostering long-term relationships and customer satisfaction.
Certified Quality Standards: Being ISO 9001:2015 and ISO 22000:2018 certified highlights the company's commitment to maintaining high quality and safety standards in its products, enhancing its credibility and market reputation.
Risk Factors
Dependency on Key Customers: The business relies heavily on key customers for a significant portion of its revenues, and losing any major client could materially and adversely impact its business and operations.
Legal Proceedings: The involvement of the company, its promoter, directors, and Group Company in certain legal proceedings poses a risk; any adverse decisions could result in liabilities or penalties, negatively affecting business operations.
Geographical Dependence: The Company’s dependence on a few key states for its business operations means that any adverse changes or losses in these regions could significantly disrupt its operations and profitability.
TBI Corn IPO Lead Manager(s)
- Swastika Investmart Ltd
- Ekadrisht Capital Private Limited
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: tbi.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/