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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/

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 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.

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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.