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Proventus Agrocom Limited IPO : Company Highlights

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.