IPO

Italian Edibles Limited IPO

NSE SME

Listed On: Feb 12, 2024 at ₹ 55.0

₹ 272000 /4000 Shares
*Min Investment

Check Allotment

02 Feb, 2024

Open Date

07 Feb, 2024

Close Date

08 Feb, 2024

Allotment Date

12 Feb, 2024

Listing Date
Italian Edibles Limited IPO Issue Details
  • Issue Price ₹68 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 39,20,000 shares(aggregating up to ₹26.66 crore)
  • Fresh Share 39,20,000 shares(aggregating up to ₹26.66 crore)
  • Listing at NSE SME
  • List Price 55.0
  • Listing Date 2024-02-12
  • Lead Manager First Overseas Capital Limited
  • Registrar Bigshare Services Pvt Ltd
Market Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)12000₹1,36,000
Retail(max)12000₹1,36,000
NII (min) 24,000₹2,72,000
Italian Edibles Limited IPO Reservation

Italian Edibles Limited IPO offers total 3,920,000 shares. Out of which NA (NA%) allocated to QIB, NA (NA%) allocated to NII,1,860,000 (47.45%) allocated to RII, NA (NA%) allocated to employees and NA (NA%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares OfferedNA (NA%)
Market Maker Shares Offered200,000 (5.1%)
Retail Shares Offered1,860,000 (47.45%)
Total Shares Offered3,920,000 (100%)
Italian Edibles Limited IPO Documents
DRHP
RHP
Italian Edibles Limited IPO Details


Italian Edibles Limited IPO is an SME IPO, priced at ₹68 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 39,20,000 equity shares, aggregating up to ₹26.66 crores..

The IPO bidding window is open from Feb 2, 2024 to Feb 7, 2024. The allotment is expected to be finalized on Feb 8, 2024, and the tentative listing date is Feb 12, 2024.

The minimum lot size for Retail investors is 2000 shares, with a minimum investment of ₹1,36,000. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,72,000.

First Overseas Capital Limited is acting as the lead manager to the issue. The registrar of the IPO is Bigshare Services Pvt Ltd, and Nikunj Stock Brokers Limited will act as the market maker for this issue.

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Italian Edibles Limited IPO Subscription Analysis And Details
Retail
120.62x
Total
149.05x
As onQIB / NIIRetailTotal
Shares Offered / Reserved18,60,00018,60,00037,20,000
Day 1 02-02-24 06:00 PM
1.33 x7.50 x4.42 x
Day 2 05-02-24 06:00 PM
5.04 x27.45 x16.25 x
Day 3 06-02-24 06:00 PM
14.11 x54.04 x34.12 x
Day 4 07-02-24 06:00 PM
177.48 x120.62 x149.05 x
Total No of Applications
1,12,178
Italian Edibles Limited Valuations
EPS Pre IPO ₹2.43/-
EPS Post IPO ₹3.41/-
P/E Pre IPO 27.94
P/E Post IPO 19.97
ROE 24.50%
ROCE 19.32%
Debt/Equity 1.60
RoNW 24.50%
Price to Book Value 1.08
Italian Edibles Limited Company Financials
In Lakhs
In Lakh
31-Mar-2331-Mar-2231-Mar-21
Assets4,155.243,905.453,946.43
Revenue6,330.097,545.254,899.44
Profit After Tax264.2180.2186.52
About Italian Edibles Limited Company

It is an Italian-based company established in the year 2009, manufacturing a wide array of confectionery products, which are Rabdi [Meethai Sweet], milk paste, chocolate paste, lollipops, candies, jelly sweets, multigrain puffed buns, and fruit-based products under its OfCour's brand.

The company operates two manufacturing units at Gram Palda, Indore, and Prabhu Toll Kanta, Indore (Madhya Pradesh).

Italian Edibles are available in all over India, particularly in the rural and semi-urban regions of Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Kerela, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand and West Bengal. The company also exports its products to other countries like Nigeria, Yemen, Sinegal, and Sudan.

As of August 31, 2023, the customers of the Company comprise Chocolate World, Yuvraj Agency, Bakewell Biscuits Private Limited, R. K. Prabhavati Tarders, Mamta Stores, Ma Laxmi Traders, Suria Distributor, etc. And one of the products sold is Jelly Candies to Dharpal Premchand Ltd (BABA) Group.

The company has a sales and marketing team consisting of 15 employees.

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Italian Edibles Limited - Promoter(s)

Mr. Ajay Makhija

Mr. Akshay Makhija

Pre Issue Share Holding : 100%

Post Issue Share Holding : 73.47%

Italian Edibles Limited IPO - Issue Objectives
1

Setting up of the proposed manufacturing unit

2

Repayment of certain Borrowings

3

To meet incremental working capital requirements

4

General Corporate Expenses.

Italian Edibles Limited IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Italian Edibles Limited2.432.4362.927.9424.51.08Standalone
Lotus Chocolate Co. Ltd.-5.42N/A-5.09-36.25N/A-60.91N/A
Tapi Fruit Processing Limited-0.75N/A20.06-156.33-2.478.82N/A

Notes:

  1. The closing price for Lotus Chocolate Company Limited was taken from BSE as of October 11, 2023.
  2. The closing price of Tapi Fruit Processing Limited was taken from NSE as of October 3, 2023.
  3. The P/E ratio for Lotus Chocolate Company Limited is based on the issue price, while other data is derived from FY 2023 financial statements.
  4. Considering the nature, range of products/services, turnover, and size of the business of the Company, the peers are not strictly comparable. However, the above companies have been included for broad comparison.
Contact Details

Italian Edibles Limited

309/1/1/8 Block No.03, Mangal Udhyog Nagar, Gram Palda, Indore - 452020

+91 9826298268

italian_edibles@yahoo.com

https://www.ofcoursegroup.com/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200

ipo@bigshareonline.com

https://ipo.bigshareonline.com/ipo_status.html