The M.V.K. Agro Food IPO date has been confirmed from February 29, 2024 and closes on March 4, 2024. Read the post to learn about M.V.K. Agro Food IPO GMP.
M.V.K. Agro Food Developers’ initial public offering (IPO) was valued at Rs 65.88 crores with a set price. Each share of M.V.K. Agro Food Developers is listed for ₹120 in the IPO. M.V.K. Agro Food IPO GMP Today is ₹0. The application requires a minimum lot size, set at 1200 Shares. An investment of ₹144,000 or more is necessary for retail investors. The admission standard for HNIs is 2 lots, or 2,400 shares, with a ₹288,000 total investment.
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Key Details Of M.V.K. Agro Food IPO:
Bidding Dates
Feb 29-Mar 4
Price Range
₹120 per share
Face Value
₹10 per share
GMP
₹0
M.V.K. Agro Food IPO GMP
The M.V.K. Agro Food IPO GMP Today is ₹0.
IPO Overview
The M.V.K. Agro Food IPO is priced at an annualised rate of Rs 65.88 crore. In this announcement, the Company issued 54.9 lakh shares, an offer for the first time. M.V.K. agro food’s stock Subscription is scheduled to begin by 29 February 2024, and the last date of stock Subscription is scheduled for 4 March 2024. The M.V.K. Agro Food IPO allotment is directed to be delivered by Tuesday, 5th March 2024. The NSE SME will take off with the M.V.K. Agro Food IPO listing on March 7 2024, which will end on Thursday.
Investors can apply for the company’s stock at a share price of ₹120 per share in the IPO. M.V.K. Agro Food is a proposition in the Alternative Investment Market with an Interim GMP of ₹0. The application process stipulates that a minimum of 1200 shares is necessary for each application. A minimum investment of ₹144,000 is necessary for retail investors. HNIs must commit a minimum investment of ₹288,000, which equals 2 lots or 2,400 shares.
M.V.K. Agro Food IPO Details
| IPO Date | February 29, 2024 to March 4, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹120 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 5,490,000 shares (aggregating up to ₹65.88 Cr) |
| Fresh Issue | 5,490,000 shares (aggregating up to ₹65.88 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 10,000,000 |
| Share holding post issue | 15,490,000 |
| Market Maker portion | 274,800 shares |
M.V.K. Agro Food Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 14,804.05 | 15,471.93 | 11,602.06 | 11,445.70 |
| Revenue | 6,044.36 | 9,393.63 | 13,263.56 | 2,583.10 |
| Profit After Tax | 430.07 | 377.45 | 319.81 | 140.41 |
| Net Worth | 1,767.74 | 1,337.67 | 960.22 | 640.41 |
| Reserves and Surplus | 1,267.74 | 837.67 | 460.22 | 140.41 |
| Total Borrowing | 6,281.23 | 9,156.10 | 6,001.32 | 7,496.33 |
| Amount in ₹ Lakhs | ||||
M.V.K. Agro Food IPO Timeline
| IPO Open Date | Thursday, February 29, 2024 |
| IPO Close Date | Monday, March 4, 2024 |
| Basis of Allotment | Tuesday, March 5, 2024 |
| Initiation of Refunds | Wednesday, March 6, 2024 |
| Credit of Shares to Demat | Wednesday, March 6, 2024 |
| Listing Date | Thursday, March 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 4, 2024 |
Company Profile
Since its founding in February 2018, MVK Agro Food Product Limited has been committed to manufacturing integrated sugar and its products. With a permitted crushing capacity of 2,500 TCD, the company sells its leftovers, pressmud, and bagasse. The company sells its products through brokers, who then sell to export houses such as PepsiCo Holdings India Private Limited,
Parle Biscuits Private Limited, and Britannia Industries Ltd. Instead of selling its products to agents, the company supplies goods to export-oriented dealers like Sakuma Exports Limited, Indian Sugar Exim company, Garden Court, and HRMM Agro Overseas Private Ltd. The company has a zero-waste manufacturing facility. Waste created is either sold or used to generate electricity. During the first six months of the year that ended on September 30 2023, and the corresponding fiscal years ending in 2023, 2022, and 2021, the revenues were recorded at ₹6,012.52 lakhs, ₹9,327.65 lakhs, ₹13,067.11 Company’s manufacturing facility is located in the Nanded District of Maharashtra. We currently have 160 employees in various departments within the firm as of September 2023.
Registrar Info
| Name | Mas Services Limited |
| Phone number | (011) 2610 4142 |
| Email ID | ipo@masserv.com |
| Website | masserv.com |
Contact Details
| Name | M.V.K. Agro Food Product Ltd |
| Phone number | +91 862 309 4480 |
| Email ID | info@mvkagrofood.com |
| Website | mvkagrofood.com |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
M.V.K. Agro Food IPO FAQs
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