Tapi Fruit Processing IPO Details & Guidance

Tapi Fruit Processing IPO Listing Details
Listed on 22 September 2022 @ NSE SME
Issued at            Rs. 48
Listed at             Rs. 52
Intraday high of Rs. 54.70
Closed at            Rs 54.70

Grey Market News for Tapi Fruit Processing IPO#
On 22 September 2022
Grey Market Premium:  Rs. –

Subscription Trend
On 14 September 2022 @ 5.00 pm
NII (50%) 543,000 Shares: 1.93 T
RII (50%) 543,000 Shares: 3.32 T
Tot 1086,000 Shares: 2.62 T

Tapi Fruit Processing IPO Details
IPO Date September 12, 22 to September 14, 2022
IPO Face Value Rs 10 per share
IPO Price Rs 48 per share
IPO Lot Size 3000 Shares
Issue Size 1086000 shares of Rs 10
(Aggregating up to Rs 5.21 Cr)
Fresh Issue 1086000 shares of Rs 10
(Aggregating up to Rs 5.21 Cr)
Offer for Sale – shares of Rs 10
(Aggregating up to Rs – Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Retail Shares Offered 50% of the net offer
NII (HNI) Shares Offered 50% of the net offer

Retail Quota: 50 % / 543000 Shares
Minimum 3000 Rs 144,000
Maximum 3000 Rs 144,000
Retail: 181 Applications required for onetime subscriptions.

Tapi Fruit Processing IPO Timetable 
IPO Opening Date: September 12, 2022
IPO Closing Date: September 14, 2022
Basis of Allotment: Sept 19, 2022
Initiation of Refunds: Sept 20, 2022
Credit of Shares to Demat : Sept 21, 2022
IPO Listing Date: Sept 22, 2022

Tapi Fruit Processing Business:

The company manufactures nutraceutical range of products under the private labeling arrangement and contract manufacturing arrangements with its customers.All its products are manufactured in-house at our manufacturing facilities located in Pipodara village, Distt. Surat, Gujarat, which enables it to have an effective control over the manufacturing process and to ensure consistent quality of its products

The diversified product portfolio includes three categories:
• Candied, Crystallized and Glazed Fruit and Vegetable Products (“Candied Fruit”): These products
are made out of 100% fruits and vegetables cooked in sugar syrup. Our products under this category
includes tooty fruity, karonda cherry, amla candy. We sell these products under our brand “Tapi”,
“MumMum” and “Boleto”.
• Fruit Bar, Jellies, Fruit Jam & Fruit Leathers (“Fruit Jellies”): A product made out of natural fruit
pulps dried and shaped in to roll form or bar forms. Our product under this category includes mango
fruit rolls, tamarind bars etc. These are fruit jellies made from sugar, glucose, pectin along with fruit
pulps added with flavours and colors. Our product under this category includes jelly balls, fruit
bears, fruit jelly pops, Jams, fruit katli and jelly cubes. Fruit Jam made from sugar, glucose, pectin
along with fruit pulps added with flavours and colors.

• Chutney & Sauces: In this category we sell Ketchup made from tomato paste under our brand
“Tapi”.
• Beverages: Under this category our product includes fruit crush and fruit syrups. Our Company
recently reintroduced its fruit syrups under its new packaging, with added fruit content.
• Nutraceutical Products: We manufacture herbal base nutraceutical products as gummies, fortified
with minerals as a functional food. These products are available as multi vitamin gummies, etc.
Over the years, it has developed a large pan-India distribution network in the general trade and through
our stockist, it also supplies in the modern trade segment. During the Financial Year ended March 31,
2022, it distributed its products across 28 states and Union Territories in India, through its widespread
network of 60 super-stockist. Its pan-India distribution network and well-established brand has enabled
us to effectively and cost efficiently increase market penetration and expand its footprint across India.
It exported its products, through a network of 5 merchant exporters, under its brand as well as under
third party private labels during the Financial Year ended March 31, 2022.

For more information about the company, Click www.tapifood.com

Promoters of Tapi Fruit Processing
GHANSHYAMBHAI LALJIBHAI LUKHI AND ASHOKKUMAR LALJIBHAI LUKHI

Tapi Fruit Processing: Objects of the IPO
1. Meeting incremental working capital requirements
2. Repayment / prepayment of certain borrowings availed by the Company

Registered office of Tapi Fruit Processing
212 to 214, Sunrise Chambers, Near Ashok Colony, Mini Bazar, Varachha Road, Surat – 395006, Gujarat, India.
Company Secretary and Compliance Officer: Kashyapkumar Nagjibhai Pandav

Lead Manager of Tapi Fruit Processing IPO
Fedex Securities Pvt. Ltd

SME IPO Financial & Analytical Ratios#
Total Income 2020-21 Rs. 13.03 Cr
Total Income 2021-22 Rs. 15.16 Cr
Net Profit 2020-21 Rs. 0.10 Cr
Net Profit 2021-22 Rs. 0.15 Cr
Earnings per Share 2020-21 Rs 1.07
Earnings per Share 2021-22 Rs 1.66 
Return on Net Worth: 20-21: 36.68 %
Return on Net Worth: 21-22: 36.26 % 
Book Value of the Share as on 31.3.22 Rs 17.21
NAV after the IPO Rs. ?
Offer Price Rs. 48

IPO Peer Comparison:
There are no listed companies in India that engage in a business similar to that of this Company

Observation by Paresh Gordhandas (Research Analyst)

Will update soon.

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