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16 Nov 2024
Dindigul Farm Product Limited IPO
Dindigul Farm Product is primarily engaged in the processing of whole milk and skimmed milk to make dairy ingredients including milk protein concentrates, skimmed milk powder, dairy whitener, whey protein concentrate, milk whey powder, casein, unbranded cream, butter and fat-filled powders for infant milk formula. Their processing facility is situated at Dindigul and is spread over 15 acres. They have also obtained a registration cum membership certificate from APEDA. EnNutrica IPO is a book-built issue of Rs 34.83 crores. The issue is entirely a fresh issue of 64.5 lakh shares. EnNutrica IPO opens for subscription on June 20, 2024 and closes on June 24, 2024.
The allotment for the EnNutrica IPO is expected to be finalized on Tuesday, June 25, 2024. EnNutrica's IPO price band is set at ₹51 to ₹54 per share. The minimum lot size for an application is 2000 Shares. Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the EnNutrica IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for EnNutrica IPO is Spread X Securities.
EnNutrica IPO Overview
| Detail | Description |
|---|---|
| IPO Date | June 20, 2024 to June 24, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 6,450,000 shares (aggregating up to ₹34.83 Cr) |
| Fresh Issue | 6,450,000 shares (aggregating up to ₹34.83 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 17,979,280 |
| Share holding post issue | 24,429,280 |
| Market Maker portion | 326,000 shares Spread X Securities |
EnNutrica IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Thursday, June 20, 2024 |
| IPO Close Date | Monday, June 24, 2024 |
| Basis of Allotment | Tuesday, June 25, 2024 |
| Initiation of Refunds | Wednesday, June 26, 2024 |
| Credit of Shares to Demat | Wednesday, June 26, 2024 |
| Listing Date | Thursday, June 27, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 24, 2024 |
EnNutrica IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
EnNutrica IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
EnNutrica IPO Promoter Holding
| Share Holding Pre Issue | 80.66% |
| Share Holding Post Issue | 59.36% |
EnNutrica IPO Anchor Investors Details
| Bid Date | June 19, 2024 |
| Shares Offered | 1,834,000 |
| Anchor Portion Size (In Cr.) | 9.90 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 25, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 23, 2024 |
Company & Financials
Incorporated in 2010, Dindigul Farm Product Limited processes whole milk and skimmed milk to produce various dairy ingredients, including milk protein concentrates, skimmed milk powder, dairy whitener, whey protein concentrate, milk whey powder, casein, unbranded cream, butter and fat-filled powders for infant milk formula. The company has a processing unit in Dindigul that covers an area of 15 acres. Dindigul Farm Product Limited follows and complies with the requirements of various relevant authorities in the industry, such as FSSAI, Halal, Kosher, Export Import Council of India and Europe Regulations in respect of certain of our products. The company has established a network of over 150 village collection centres, providing direct access to more than 4,000 farmers and 50 dairy farms. They market their products under the brand names ENNUTRICA, and Activ day, and currently supply to a wide number of customers from different industries. For the financial year 2022-23, they have sold products in more than 15 states domestically and 3 countries internationally. However, they aim to expand their international operations by looking to enter more ASEAN and European countries. They mainly supply products to the Dairy Industry, Food Ingredients industry, nutrition industry, dairy industry, ice cream industry, and baking industry.
Dindigul Farm Product Limited Financial Information
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 5,123.46 | 2,899.84 | 2,995.07 | 2,995.07 | ||||||||||||||||||||||||||||||||||||
| Revenue | 6,876.65 | 8,199.34 | 2,845.07 | 1,840.72 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 588.40 | 525.79 | -420.08 | -461.19 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 393.94 | -1,638.46 | -2,162.72 | -1,742.64 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 2,263.87 | 2,398.37 | 2,579.25 | 2,716.23 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | -0.95% |
| ROCE | 0.62% |
| Debt/Equity | 4.63 |
| RoNW | 149.49% |
| P/BV | 23.58 |
| PAT Margin (%) | 8.57 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.92 | 3.21 |
| P/E (x) | 18.47 | 16.81 |
Objectives of EnNutrica IPO
The Issue Proceeds from the Fresh Issue will be utilized towards the following objectives:
- 1. Capital Expenditure.
- 2. Working Capital Requirements.
- 3. General Corporate Purposes.
EnNutrica IPO Review
The company posted negative performances for FY21 and FY22, and then marked improved performance, by streamlining its production facility, which boosted its top and bottom lines. Its major stakeholder Indrayani Biotech is in the limelight of a change in management and a shift in its business model. Based on annualized FY24 super earnings, the issue appears fully priced. Investors may park funds for the medium to long term.
FAQs for EnNutrica IPO
-
What is Dindigul Farm IPO?
Dindigul Farm IPO is an BSE SME IPO. They are going to raise ₹34.83 Crores via IPO. The issue is priced at ₹51 to ₹54 per equity share. The IPO is to be listed on BSE.
-
When will the Dindigul Farm IPO open?
The IPO is to open on June 20, 2024 for QIB, NII, and Retail Investors.
-
What is the Dindigul Farm IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Dindigul Farm IPO Size?
Dindigul Farm's IPO size is ₹34.83 crores.
-
What is Dindigul Farm IPO Price Band?
Dindigul Farm IPO Price Band is ₹51 to ₹54 per equity share.
-
What is the Dindigul Farm IPO Allotment Date?
Dindigul Farm IPO allotment date is June 25, 2024.
-
What is the Dindigul Farm IPO Listing Date?
Dindigul Farm IPO listing date is June 27, 2024. The IPO to list on BSE SME.
RHP:
RHP of Dindigul Farm Product Limited IPO
DRHP:
DRHP of Dindigul Farm Product Limited IPO
Anchor Investor Link:
Anchor Investor Link of Dindigul Farm Product Limited IPO
-
What is Dindigul Farm IPO?
Dindigul Farm IPO is an BSE SME IPO. They are going to raise ₹34.83 Crores via IPO. The issue is priced at ₹51 to ₹54 per equity share. The IPO is to be listed on BSE.
-
When will the Dindigul Farm IPO open?
The IPO is to open on June 20, 2024 for QIB, NII, and Retail Investors.
-
What is the Dindigul Farm IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Dindigul Farm IPO Size?
Dindigul Farm's IPO size is ₹34.83 crores.
-
What is Dindigul Farm IPO Price Band?
Dindigul Farm IPO Price Band is ₹51 to ₹54 per equity share.
-
What is the Dindigul Farm IPO Allotment Date?
Dindigul Farm IPO allotment date is June 25, 2024.
-
What is the Dindigul Farm IPO Listing Date?
Dindigul Farm IPO listing date is June 27, 2024. The IPO to list on BSE SME.
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