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.
Table of Contents
![TGIF Agribusiness IPO](https://financewiew.com/wp-content/uploads/2024/05/image-1.png)
TGIF Agribusiness IPO Details
IPO Date | May 8, 2024 to May 10, 2024 |
Listing Date | [.] (to be updated) |
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) |
Issue Type | Fixed Price Issue IPO |
Listing At | BSE SME |
Shareholding Pre Issue | 1,900,000 |
Shareholding Post Issue | 2,587,600 |
Market Maker portion | 34,800 shares |
TGIF Agribusiness IPO Reservation
Investor Category | Shares Offered |
---|---|
Retail | 50% of the net offer |
Other | 50% of the net offer |
TGIF Agribusiness IPO Timeline (Tentative Schedule)
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
Application | Lots | Shares | Amount |
---|---|---|---|
Retail (Min) | 1 | 1200 | ₹111,600 |
Retail (Max) | 1 | 1200 | ₹111,600 |
HNI (Min) | 2 | 2400 | ₹223,200 |
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%
TGIF Agribusiness Limited Financial Information (Restated)
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 |
Key Performance Indicator
As of November 30, 2024, the market capitalization of TGIF Agribusiness IPO stands at Rs 24.06 Cr.
KPI | Values |
---|---|
RoNW | 42.85 |
P/BV | 9.3 |
PAT Margin (%) | 47.7 |
Objects of the Issue (TGIF Agribusiness IPO Objectives)
The proceeds from the Issue will be utilized for:
- Purchase of agricultural equipment & irrigation system
- Meeting Working Capital requirements
- General Corporate Purpose