Freshara Agro Exports Limited (NSE SME)
Oct 17, 2024 - Oct 21, 2024
| Price | ₹110 - ₹116 |
| Premium | ₹50 |
|---|---|
| Lot size | 1200 |
| Allotment | Oct 22, 2024 |
| Listing | Oct 24, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 1200 | 139200 | 1716 |
| HNI | 2 | 2400 | 278400 | 736 |
Last updated on 21-Oct-2024 17:01:02
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 1176000 | 151964400 | 129.22 |
| NIB | 883200 | 451588800 | 511.31 |
| RETAIL | 2059200 | 372310800 | 180.8 |
| Total | 4118400 | 975864000 | 236.95 |
| Application Wise Breakup | |
|---|---|
| Category | App. Received |
| QIB | 86 |
| NIB | 26291 |
| RETAIL | 310259 |
| Total | 336636 |
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIB | 13.64 | 1762.79 | 129.22 |
| NIB | 10.25 | 5238.43 | 511.31 |
| RETAIL | 23.89 | 4318.81 | 180.8 |
| Total | 47.77 | 11320.02 | 236.95 |
| QIB Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹20.12 | @8% ₹23 | @9% ₹25.87 | @10% ₹28.75 | @11% ₹31.62 | @12% ₹34.5 |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹79.62 | @8% ₹91 | @9% ₹102.37 | @10% ₹113.75 | @11% ₹125.12 | @12% ₹136.5 |
IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Retail | 31.68% | 2059200 |
| NII (HNI) | 13.59% | 883200 |
| Anchor | 27.10% | 1761600 |
| QIB | 18.09% | 1176000 |
| Market Maker | 9.53% | 619200 |
| Total | 100.00% | 6499200 |
Freshara Agro Exports IPO Details
| Issue Size | 6,499,200 shares (aggregating up to ₹75.39 Cr) |
| Fresh Issue | 6,499,200 shares (aggregating up to ₹75.39 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,000,000 |
| Share holding post issue | 23,499,200 |
| Market Maker portion | 619,200 shares Giriraj Stock Broking |
Key Performance Indicator
| KPI | Sep-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROCE | 12.31% | 10.04% | 20.25% |
| RONW | 29.67% | 36.96% | 36.35% |
| D/E | 2.77 | 3.99 | 2.1 |
| EPS (basic) | 6.69 | 12.83 | 5.34 |
| P/E Pre IPO | 9.04 | ||
| P/E Post IPO | 11.98 |
Company Financials
Freshara Agro Exports Limited Financial Information (Restated)
Freshara Agro Exports Limited's revenue increased by 56% and profit after tax (PAT) rose by 140% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period | Sep 2024 | Mar 2024 | Mar 2023 | Mar 2022 | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | 16,599.73 | 28,853.09 | 8,490.64 | 5,887.64 | ||||||||||||||||||||||||||||||||||||
| Revenue | 10,746.11 | 19,801.58 | 12,700.22 | 11,840.68 | ||||||||||||||||||||||||||||||||||||
| Profit | 1,137.81 | 2,182.41 | 908.2 | 97.36 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 3,834.58 | 5,958.45 | 1,855.49 | 931.58 | ||||||||||||||||||||||||||||||||||||
| Reserves | 2,134.58 | 996.77 | ||||||||||||||||||||||||||||||||||||||
| Borrowing | 10,625.22 | 17,618.1 | 4,173.89 | 3,479.1 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
About Company
Freshara Agro Exports Limited, formerly known as Freshara Picklz Exports, was established in 2015 and specializes in procuring, processing, and exporting preserved gherkins and other pickled goods from India to various international markets. Operating under a contract farming model, the company sources raw produce from local farmers in Tamil Nadu, Karnataka, and parts of Andhra Pradesh. Around 70% of the produce is supplied "not ready-to-eat" to factories for further processing, while the remaining 30% is exported directly to food brokers and traders. The company's product range includes gherkins, baby corn, jalapenos, and other pickled vegetables, packaged in three formats: industrial packaging (food-grade drums and pails), food packaging (plastic buckets and tin cans), and retail packaging (glass jars and tin cans). Freshara Agro Exports is accredited by several prominent organizations, including FSSAI, the US FDA, Star-K Kosher, APEDA, International Featured Standards, and BRCGS, ensuring high standards in food safety and quality. As of September 30, 2024, Freshara employs 135 staff members.
GYR Capital Advisors Private Limited
Strong Supplier Relationships: Good ties with contract farmers and suppliers ensure a steady supply of raw materials, even during the off-season.
Efficient Supply Chain: A well-managed supply chain supports long-term, intensive customer relationships, fostering business growth.
High Product Quality: Rigorous quality assurance has earned the company multiple awards and accreditations, boosting its reputation globally.
Risk of Spoilage: Improper storage, processing, or handling of products like gherkins and baby corn may lead to spoilage, adversely impacting business operations.
Product Contamination: Real or perceived contamination could reduce sales, harm the company’s reputation, and lead to regulatory action.
Geopolitical Risk: A significant portion of revenue comes from overseas markets, including Russia, which is affected by the ongoing conflict with Ukraine, posing potential business disruptions.
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query