Proventus Agrocom Limited IPO is set to launch on 24 May, 2023. The company initiated its business operations in the year 2015. It is involved in the business of providing healthy food to the end users through various products like Dry Fruits, Berries, Nuts and Seeds. Proventus Agrocom Limited’s product portfolio also consists of various healthy snacks as well.
The company wants to build a chain wherein its products are readily available to the end user from farm hence the motto of farm to home. The products of the company are sold under the brand name ProV. Its product portfolio consists of Almonds, Cashews, Pistachios, Raisins, Walnuts, and other products like Seeds, Nuts and Berries alongside some healthy snacks.
Proventus Agrocom Limited IPO DETAILS
Proventus Agrocom Limited IPO is set to launch on 24 May., 2023. The subscription timeline extends till 26 May, 2023. The size for the IPO is 69.54 Crore Rs. Shares issued through fresh issue mode are worth 51.80 Crore Rs. Shares issued through offer for sale mode are worth 17.74 Crore Rs. The lot size is 160 shares and the price is 771 Rs per share. The company is going to get listed at NSE SME. 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 Proventus Agrocom Limited IPO
| IPO OPENING DATE | 24 May ., 2023 |
| CLOSING DATE FOR IPO | 26 May, 2023 |
| ISSUE TYPE | Fixed Price Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 771 Rs per share |
| LOT SIZE | 160 shares |
| MINIMUM ORDER QUANTITY | 160 shares |
| ISSUE SIZE | 69.54 Crore Rs. |
| OFFER FOR SALE | 17.74 Crore Rs. |
| FRESH ISSUE | 51.80 Crore Rs. |
| LISTING AT | NSE SME |
| LISTING DATE | 5 June, 2023 |
Proventus Agrocom Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 24 May., 2023 |
| CLOSING DATE FOR IPO | 26 May., 2023 |
| IPO ALLOTMENT DATE | 31 May., 2023 |
| REFUNDS | 1 June., 2023 |
| DEMAT A/C CREDITED ON | 2 June., 2023 |
| IPO LISTING DATE | 5 June., 2023 |
Proventus Agrocom Limited IPO begins for subscription from 24 May., 2023. The IPO subscription would continue till 26 May., 2023. The allotment status for the shareholders who applied would come on 31 May., 2023. The refunds for the ones who did not get allotment would be initiated on 1 June., 2023. The DEMAT accounts of shareholders would be credited on 2 June., 2023. The listing of the company would be accompanied on 5 June., 2023.
Proventus Agrocom Limited IPO : Lead Managers
The lead managers are :
- Sundae Capital Advisors
The minimum lot size for the company is decided at 160 shares. This holding accounts to 123360 Rs.. The maximum lot size is decided at 320 shares (HNI). This amounts to 246720 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 160 shares | 123360 Rs. |
| Maximum | 320 shares | 246720 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The Issue proceeds will be utilised for fulfilling the working capital requirements.
- The IPO Money will be used for funding the subsidiary of Provenus Agrocom Limited namely Prov Foods Private Limited.
COMPANY FINANCIALS
| Particularly (in Lakh Rs.) | 2019-20 | 2020-21 | 2021-22 |
| ASSETS | 8936 | 8843 | 10131 |
| Revenue | 90089 | 30173 | 40434 |
| PAT | (- 2190) | 188 | 114 |
Proventus Agrocom Limited’s asset base has decreased in the year 2021. The assets of the firm were 8936 Lakh Rs in 2020 which decreased to 8843 Lakh Rs. However in 2022 the assets were valued at 10131 Lakh Rs. The revenue of the firm had witnessed a huge decrease from the 2020 figures. The revenue of the firm was 90089 Lakh Rs in 2020. This decreased to 30173 Lakh Rs in 2021 and 40434 Lakh Rs in 2022. The firm incurred a massive loss of 2190 Lakh Rs in 2020. From there it made a profit of 188 Lakh Rs in 2021 and 114 Lakh Rs in 2022.
PROS
- Proventus Agrocom Limited’s product portfolio also consists of various healthy snacks as well.
- The company wants to build a chain wherein its products are readily available to the end user from farm hence the motto of farm to home.
- Its product portfolio consists of Almonds, Cashews, Pistachios, Raisins, Walnuts, and other products like Seeds, Nuts and Berries alongside some healthy snacks.
CONS
- The company works into a very competitive segment.
Proventus Agrocom 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 link present in the Portfolio section.
- Click the Proventus Agrocom 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.
