TGIF Agribusiness Limited IPO is set to launch on 8 May, 2024. The company was incorporated in 2014, previously known as ARV Farmpro LLP, and is active in 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. It 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 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 has employed around 8 people.
TGIF Agribusiness Limited : IPO DETAILS
TGIF Agribusiness Limited IPO is set to launch on 8 May, 2024. The subscription timeline extends till 10 May, 2024. The size for the IPO is Rs. 6.39 Crore. The entire issue is a fresh issue of 6.88 Lakh shares. The lot size is 1200 shares and the price is Rs. 93 per share. The company is going to get listed at BSE SME Board. The face value per share is Rs.10 and this is a Fixed Price Issue. The registrar for the company is Bigshare Services Private Limited.
Tabular Description of TGIF Agribusiness Limited IPO
| IPO OPENING DATE | 8 May, 2024 |
| CLOSING DATE FOR IPO | 10 May, 2024 |
| ISSUE TYPE | Fixed Price Issue |
| Face Value per share | Rs. 10 per share |
| IPO price band | Rs. 93 per share |
| LOT SIZE | 1200 shares |
| MINIMUM ORDER QUANTITY | 1200 shares |
| ISSUE SIZE | Rs. 6.39 Crore |
| OFFER FOR SALE | NIL |
| FRESH ISSUE | Rs. 6.39 Crore |
| LISTING AT | BSE SME Board |
| LISTING DATE | 15 May, 2024 |
TGIF Agribusiness Limited IPO: IMPORTANT DATES
| IPO OPENING DATE | 8 May, 2024 |
| CLOSING DATE FOR IPO | 10 May, 2024 |
| IPO ALLOTMENT DATE | 13 May, 2024 |
| REFUNDS | 14 May, 2024 |
| DEMAT A/C CREDITED ON | 14 May, 2024 |
| IPO LISTING DATE | 15 May, 2024 |
TGIF Agribusiness Limited IPO begins for subscription from 8 May, 2024. The IPO subscription would continue till 10 May, 2024. The allotment status for the shareholders who applied would come on 13 May, 2024. The refunds for the ones who did not get allotment would be initiated on 14 May, 2024. The DEMAT accounts of shareholders would be credited on 14 May, 2024. The listing of the company would be completed on 15 May, 2024.
TGIF Agribusiness Limited IPO: Lead Managers
The lead managers are :
- Hem Securities Limited
The minimum and maximum lot size for retail investors is 1200 shares, amounting to Rs. 111600. The minimum lot size for HNI is 2400 shares, amounting to Rs. 223200.
| Shares | Amount | |
| Retail (Minimum) | 1200 shares | Rs. 111600 |
| Retail (Maximum) | 1200 shares | Rs. 111600 |
| HNI (Minimum) | 2400 shares | Rs. 223200 |
OBJECTIVES FOR THE IPO
- Purchase of agricultural equipment & irrigation system;
- To meet Working Capital requirements, and
- General Corporate Purpose.
COMPANY FINANCIALS
| Particularly (in Rs. Lakhs) | 2020-21 | 2021-22 | 2022-23 | Nov-2023 |
| Asset | 291.62 | 65.33 | 187.52 | 282.32 |
| Revenue | 181.59 | 207.14 | 232.28 | 171.79 |
| PAT | 38.18 | 115.48 | 130.07 | 81.41 |
TGIF Agribusiness Limited had an asset base of Rs. 291.62 Lakhs in 2021 which decreased to Rs. 187.52 Lakhs in 2023.The asset base of the firm jumped to Rs. 282.32 Lakhs as on Nov-2023. The revenue for the company was Rs. 181.59 Lakhs in 2021, which increased to Rs. 232.28 Lakhs in 2023. The revenue for 9 months ending December 2023 was Rs. 171.79 Lakhs. The profit of the company increased from Rs. 38.18 Lakhs in 2021 to Rs. 130.07 Lakhs in 2023. The profit generated for the 9 months ending December 2023 was Rs. 81.41 Lakhs.
PROS
- Its farmland is spread over an area of over 110 acres
- The company is mainly engaged in the farming of pomegranate which contribute to more than 95% of its revenue from operations. In the last three financial years, it has also grown and harvested lemon, watermelon and chilly.
- The company follows different farming practices so as to produce quality fruits such as fruit thinning, wherein some portion of fruit crop from the tree is removed before its maturity, in order to improve the general size and quality of the remaining crop, leaf vegetative growth practice to reduce tolerance level of external appearance, protecting fruit with protection material, measuring soil moisture to determine the water application.
TGIF Agribusiness Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the TGIF Agribusiness Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
