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Italian Edibles IPOItalian Edibles IPO Watch, Guidance & Subscription Status at Chanakyanipothi.com,
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Italian Edibles IPO Post Listing Review : 
The scrip is listed at Rs. 55, much below the IPO issue price of Rs. 68. This is great disappointment to the grey market traders who expected listing to be around Rs. 80.



What is the last GMP of Italian Edibles IPO?*
Premium: Rs. 12
Subject to Rs. 18200

Italian Edibles IPO Subscription

On 7 February 2024 5.00 pm (Day 4) (Closed)
Review:
Strong subscriptions on last day seen.
NII:        1860000 Shares  177.37 T
RII:        1860000 Shares  120.62 T

Total:    3720000 Shares 154.43 T
          Total Bids of Rs.3907.08 Cr

What is the business of Italian Edibles?

Confectionery in a broader sense implies the preservation of sweet delicacy preparation in the form of candies, caramels, chocolate, processed cocoa and milk and traditional Indian confections. Keeping in mind the company’s mantra “Sharing is Everything” and “Delightful Creation and Boundless Joy”, the company has been manufacturing delicious mouthwatering confectionery products for the last 14 years.
Its confectionery products are sold under the brand name of “Of Cour’s”. It offers a wide range of confectionery’s such as Rabdi [Meethai Sweet], Milk Paste, Chocolate Paste, Lollipops, Candies, Jelly Candies, Multi-Grain Puff Rolls, Fruit Based Products to its customers. India being a country with different cultures, many festivals and occasions, celebration with confectioneries plays a major role in those special occasions, festivals etc.
Its confectionery products are sold PAN India, majorly in rural and semi-urban areas of Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Kerela, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, West Bengal and through local wholesalers and distributors located in these areas. 

Its consumer segments largely include teenagers, young adults and children’s located in rural and semi-urban areas of India. Apart from selling its confectionery products within India, it also exports to various countries such as Nigeria, Yemen, Sinegal and Sudan.
As on August 31, 2023 its top customers include Chocolate World, Yuvraj Agency, Bakewell Biscuits Private Limited, R. K. Prabhavati Tarders, Mamta Stores, Ma Laxmi Traders, Suria Distributor etc. Also, one of its product, i.e., Jelly Candies are sold to Dharpal Premchand Ltd (BABA) group.
Over the years, it has developed a large pan-India distribution network. As of August 31, 2023, it had approximately 450 Suppliers and distributors located across 22 states in India and have it has exported its products through network of 5 merchant exporters. Its distribution network within India and outside India and well-established brand has enabled it to effectively manage marketing strategy, market penetration and thereby increase its turnover over the years.
The company has two operational manufacturing unit that is operated by it and is located in Gram Palda, Indore and Prabhu Toll Kanta, Indore (Madhya Pradesh). Being strategically located in the industrial area, procurement and transportation of raw materials is easy, quick and cost effective. Its manufacturing unit are FSAAI, ISO 22000:2018 and FIEO certificated.

Get more information about the company @ https://www.ofcoursegroup.com/

Italian Edibles IPO Details
IPO opens on  02 February 2024
IPO closes on  07 February 2024
Issue Type Book Built Issue IPO
Issue Size 3920000 Sh /Rs 26.66 Cr
* Fresh Issue 3920000 Sh /Rs 26,66 Cr
* Offer for Sale  – Sh /Rs – Cr
Market Maker Portion 200000 Sh.
Net offer to Public 3720000 Sh./Rs.25.30 Cr
Face Value per share Rs. 10
Price Band Rs. 68
Employee discount  Rs. 0 per share
Retail Lot Size  2000 Shares
Listing will at  NSE SME
Shares offered in Italian Edibles IPO
  Shares Rs. (Cr)
QIB (0%) 0 0
NII  (50%) 1860000 12.65
RII  (50%) 1860000 12.65
Total Shares  3720000 25.30
Retail portion will be oversubscribed by  930
Forms
How much Shares to Apply in Italian Edibles IPO?
Min Retail Application 2000 Sh Rs. 136000
Min HNI Application  4000 Sh Rs.272000

Who are the Promoters of Italian Edibles IPO?
Mr. Ajay Makhija and Mr. Akshay Makhija are the promoters of the company.

What are the Objects of Italian Edibles IPO?

The Offer comprises only of a Fresh Issue of Equity shares.
Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
1. Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks, financial institutions and non-banking financial companies;
2. Acquisition of land;
3. Funding of capital expenditure requirements of the Company towards set up of Solar Power Plant; and
4. General corporate purposes.

Italian Edibles IPO Tentative timetable
IPO opens on 02 February 2024
IPO Closes on 07 February 2024
IPO Allotment on  08 February2024
Refund Initiation  09 February 2024
Credit of Shares 09 February 2024
Listing on 12 February 2024
Registered Office of the Company
Italian Edibles Limited
309/1/1/8 Block No.03,
Mangal Udhyog Nagar, Gram Palda,
Indore – 452020

Who is the Lead Manager of Italian EdiblesIPO?
First Overseas Capital Limited
Who is the Registrar to IPO?
Bigshare SERVICES Pvt Ltd
Italian Edibles IPO Financial & Analytical Ratios
Year Total Income Net Profit EPS RoNW
  Rs.in Cr Rs.in Cr Rs. %
2020-21 48.99 0.87 0.81 14.82
2021-22 75.45 0.80 0.75 09.85
2022-23  63.30 2.64 2.43 24.50
Book Value of the Share on 31.03.2023 Rs 62.90    
BV of the Share at cap price after the IPO Rs. ?    
Offer Price/upper band   Rs. 68    
Italian Edibles IPO
Key Performance indicators
Price/last EPS of 22-23  27.98
Price/BV Ratio 1.00
Upper price/BV after IPO   


How Italian Edibles IPO compares with the Peers? 

As per DRHP FV Total Income PE Ratio
    In Rs. Cr  
Italian Edibles 10 63.21                27.98       
Lotus Chocolates 10 62.72 (71.76)
Tapi Fruits Processing 10 20.67 (248.73)
       
       

 

# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

Italian Edibles IPO To the point Guidance
The company has been manufacturing delicious mouthwatering confectionery products for the last 14 years.
Its confectionery products are sold under the brand name of “Of Cour’s”. It offers a wide range of confectionery’s such as Rabdi [Meethai Sweet], Milk Paste, Chocolate Paste, Lollipops, Candies, Jelly Candies, Multi-Grain Puff Rolls, Fruit Based Products to its customers.
Size: Being a SME IPO, the size of the IPO (Rs 26.66 Cr) is not very large, as per the recent trend. With just 930 Applications, the retail portion will get one time subscribed. Considering, the hunger of the investors, IPO may get oversubscribed easily.
Financial Snapshot:
The company has shown sharp rise in the top line and bottom line of F23. This raises eyebrows. The business of the company has tough competition of large corporations such as Parle, Nestle etc. From offer-price valuation angle, the shares are offered at reasonable valuation. The lead manager has good track-record. You may apply this IPO. If the company can maintain its profitability of FY23, then the shares can provide good returns in the medium term.

Quicklinks


Italian Edibles IPO GMP Detail
IPO GMP today details?

Italian Edibles IPO

Italian Edibles IPO FAQs
What is Italian Edibles IPO?
Italian Edibles IPO is a SME IPO of 3920000 equity shares of the face value of Rs. 10 aggregating up to Rs.26.66 Crores. The issue is priced at Rs.68 per share. The minimum order quantity is 2000 Shares.
When Italian Edibles IPO will open?
Italian Edibles IPO opens on Febryary 02, 2024, and closes on February 7, 2024.

What is the lot size of Italian Edibles IPO?
Italian Edibles IPO lot size is 2000 Shares, and the minimum amount required is Rs.136000.

How to apply for Italian Edibles IPO?
You can apply in Italian Edibles IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

When is Italian Edibles IPO allotment?
The finalization of Basis of Allotment for Italian Edibles IPO will be done on February 8, 2024, and the allotted shares will be credited to your demat account by February 9, 2024.

When is Italian Edibles IPO listing date?
Italian Edibles IPO listing date is not yet announced. The tentative date of Italian Edibles IPO listing is February 12, 2024.

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