March 7, 2024
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M.V.K. Agro Food Product IPO Watch, Guidance & Subscription Status at Chanakyanipothi.com,
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M.V.K. Agro Food Product IPO Post Listing Review :
On 7th March, the scrip is listed at Rs. 79, huge discount o 34.17% over the issue-price of Rs. 120. The sentiment towards this IPO had turned weak, since last few sessions.
M.V.K. Agro Food Product IPO Subscription
On 4 March 2024 5.00 pm (Day 3) (Closed)
Review: Not so impressive trend even on last day
NII: 2607600 Shares 3.90 T
RII: 2607600 Shares 13.01 T
Total: 5215200 Shares 8.46 T
What is the business of M.V.K. Agro Food Product?
The company is an integrated sugar and other allied products manufacturing company operating from Nanded District in the State of Maharashtra. It operates a single location sugar unit having licensed crushing capacity of 2,500 TCD. In addition to sugar it also commercialises and sells its by-products and waste products, namely, Molasses, Bagasse and Pressmud. It is also engaged in the generation of Power for captive consumption. Its business can hence be broken up into two segments, namely Sugar and its by-products/waste products. In the year 2020, it commenced operations of manufacturing of Sugar. In the year 2020, the Company implemented backward integration and began commercial
operations of the by-products and waste products of Sugar along with Co-Generation capabilities. The Company has in the Fiscal 2023, completed three crushing seasons, i.e., 2020-21, 2021-22 and 2022-23. Over the years, it has expanded the production / manufacturing capacities of all its products.
The Company proposes to further diversify its product portfolio by setting up a greenfield unit for manufacturing Ethanol and Bio-CNG and Fertilizer. Ethanol is produced after fermentation and distillation of Molasses and can be further purified into Fuel Ethanol, by removing the water content. It intends to create an additional revenue stream using backward integration of its waste material, i.e., Molasses for manufacturing Ethanol and marketing and selling the same for industrial usage. Further, in the said greenfield unit, it proposes to set up a separate bio CNG bottling and fertiliser plant for bio-gas generation and bottling. The by-product generated from the manufacturing of bio-gas is mainly used as a fertiliser, therefore the Company proposes to market and sell such by-product as a fertilizer to third parties. The company proposes to generate bio-gas by processing Bagasse and Pressmud further marketing and selling the same for industrial usage. Accordingly, the Company proposes to utilise an amount of Rs. 3,488.17 lakhs and Rs. 1,750.00 lakhs from the Net Proceeds of this Issue towards setting up the aforementioned manufacturing unit for Ethanol and Bio-CNG and Fertilizer, respectively, and expanding its product portfolio.
Get more information about the company @ https://mvkagrofood.com/
| M.V.K. Agro Food Product IPO Details | |
| IPO opens on | 29 February 2024 |
| IPO closes on | 4 March 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 5490000 Sh /Rs 65.88 Cr |
| * Fresh Issue | 5490000 Sh /Rs 65.88 Cr |
| * Offer for Sale | – Sh /Rs – Cr |
| Market Maker Portion | 274800 Sh. |
| Net offer to Public | 5215200 Sh./Rs.62.58 Cr |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 120 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | NSE SME |
| Shares offered in M.V.K. Agro Food Product IPO | ||
| Shares | Rs. (Cr) | |
| QIB (0%) | – | – |
| NII (50%) | 2607600 | 31.29 |
| RII (50%) | 2607600 | 31.29 |
| Total Shares | 5215200 | 62.58 |
| Retail portion will be oversubscribed by | 2173 | |
| Forms | ||
| How much Shares to Apply in M.V.K. Agro Food Product IPO? | ||
| Min Retail Application | 1200 Sh | Rs.144000 |
| Min HNI Application | 2400 Sh | Rs.288000 |
Who are the Promoters of M.V.K. Agro Food Product IPO?
The promoters of the company are Marotrao Vyankatrao Kawale, Sagarbai Marotrao Kawale, Ganeshrao Vyankatrao Kawale, Kishanrao Vyankatarao Kawale and Sandip Marotrao Kawale
What are the Objects of M.V.K. Agro Food Product IPO?
The Offer comprises only of a Fresh Issue of Equity shares.
The Net Proceeds are proposed to be used in the following manner:
Setting up a greenfield unit in Nanded, Maharashtra for (i) manufacturing Ethanol and (ii) generation and bottling of Bio-CNG and Fertilizer
General corporate purposes
| M.V.K. Agro Food Product IPO Tentative timetable | |
| IPO opens on | 29 February 2024 |
| IPO Closes on | 4 March 2024 |
| IPO Allotment on | 5 March 2024 |
| Refund Initiation | 6 March 2024 |
| Credit of Shares | 6 March 2024 |
| Listing on | 7 March 2024 |
| Registered Office of the Company M.V.K. Agro Food Product Ltd GUT No. 44 and 46 Kusumnagar, At Post Waghalwada, Umari, Nanded – 431 807 |
| Who is the Lead Manager of M.V.K. Agro Food Product IPO? Horizon Management Private Limited |
| Who is the Registrar to IPO? Mas Services Limited |
| M.V.K. Agro Food Product IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 25.83 | 1.40 | 1.67 | 35.48 |
| 2021-22 | 132.64 | 3.20 | 3.20 | 39.96 |
| 2022-23 | 93.94 | 3.77 | 3.77 | 32.85 |
| Book Value of the Share on | 31.03.2023 | Rs 31.83 | ||
| BV of the Share at cap price | after the IPO | Rs. 53.94 | ||
| Offer Price/upper band | Rs. 120 | |||
| M.V.K. Agro Food Product IPO Key Performance indicators |
|
| Price/last EPS of 22-23 | 31.83 |
| Price/BV Ratio | 3.77 |
| Upper price/BV after IPO | 2.22 |
How M.V.K. Agro Food Product IPO compares with the Peers?
| As per RHP | FV | Total Income | PE Ratio |
| In Rs. Cr | |||
| MVK Agro Foods | 10 | 93 15.90 | |
| Ugar Sugar | 1 | 1940 | 8.85 |
| Dwarikesh Sugar | 1 | 2103 | 15.60 |
| Balrampur Chini Mills | 1 | 4666 | 28.78 |
| Dhampr Sugar | 10 | 2874 | 10.48 |
# 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.
M.V.K. Agro Food Product IPO To the point Guidance
The company is an integrated sugar and other allied products manufacturing company operating from Nanded District in the State of Maharashtra. It operates a single location sugar unit having licensed crushing capacity of 2,500 TCD. The Company proposes to further diversify its product portfolio by setting up a greenfield unit for manufacturing Ethanol and Bio-CNG and Fertilizer. Ethanol is produced after fermentation and distillation of Molasses and can be further purified into Fuel Ethanol, by removing the water content. So, the investment can increase the profitability of the business.
Size: Being a SME IPO, the net size of the IPO (Rs 62.58 Cr) is somewhat large, as per the recent trend. With 2173 Applications, the retail portion will get one time subscribed. RII portion is some what large, so huge oversubscription may not come.
Financial Snapshot: The company has shown sharp rise in the top line and bottom line of F23 compared to the year 2020-21. This raises eyebrows. The shares are offered at valuation prevalent in the other sugar shares. This leaves room for marginal listing gains.
Quicklinks
M.V.K. Agro Food Product IPO GMP Detail IPO GMP today details?
M.V.K. Agro Food Product IPO
M.V.K. Agro Food Product IPO FAQs
What is M.V.K. Agro Food Product IPO?
M.V.K. Agro Food Product IPO is a SME IPO of 5490000 equity shares of the face value of Rs. 10 aggregating up to Rs.65.88 Crores. The issue is priced at Rs.120 per share. The minimum order quantity is 1200 Shares.
When M.V.K. Agro Food Product IPO will open?
M.V.K. Agro Food Product IPO opens on February 29, 2024, and closes on March 4, 2024.
What is the lot size of M.V.K. Agro Food Product IPO?
M.V.K. Agro Food Product IPO lot size is 1200 Shares, and the minimum amount required is Rs.144000
How to apply for M.V.K. Agro Food Product IPO?
You can apply in M.V.K. Agro Food Product 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 M.V.K. Agro Food Product IPO allotment?
The finalization of Basis of Allotment for M.V.K. Agro Food Product IPO will be done on March 5, 2024, and the allotted shares will be credited to your demat account by March 6, 2024.
When is M.V.K. Agro Food Product IPO listing date?
M.V.K. Agro Food Product IPO listing date is not yet announced. The tentative date of M.V.K. Agro Food Product IPO listing is March 7, 2024.
