IPO

TGIF Agribusiness Limited IPO

BSE SME

Listed On: May 15, 2024 at ₹ 150.0

₹ 223200 /2400 Shares
*Min Investment

Check Allotment

08 May, 2024

Open Date

10 May, 2024

Close Date

13 May, 2024

Allotment Date

15 May, 2024

Listing Date
TGIF Agribusiness Limited IPO Issue Details
  • Issue Price ₹93 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 6,87,600 shares(aggregating up to ₹6.39 crore)
  • Fresh Share 6,87,600 shares(aggregating up to ₹6.39 crore)
  • Listing at BSE SME
  • List Price 150.0
  • Listing Date 2024-05-15
  • Lead Manager Hem Securities Limited
  • Registrar Bigshare Services Pvt Ltd
Market Lot Size

Investors can bid for a minimum of 1200 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)11200₹1,11,600
Retail(max)11200₹1,11,600
NII (min) 22,400₹2,23,200
TGIF Agribusiness Limited IPO Reservation

TGIF Agribusiness Limited IPO offers total 687,600 shares. Out of which NA (NA%) allocated to QIB, NA (NA%) allocated to NII,326,400 (47.47%) 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 Offered34,800 (5.06%)
Retail Shares Offered326,400 (47.47%)
Total Shares Offered687,600 (100%)
TGIF Agribusiness Limited IPO Documents
DRHP
RHP
TGIF Agribusiness Limited IPO Details


TGIF Agribusiness Limited IPO is an SME IPO, priced at ₹93 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the BSE SME platform. The IPO comprises a total issue of 6,87,600 equity shares, aggregating up to ₹6.39 crores..

The IPO bidding window is open from May 8, 2024 to May 10, 2024. The allotment is expected to be finalized on May 13, 2024, and the tentative listing date is May 15, 2024.

The minimum lot size for Retail investors is 1200 shares, with a minimum investment of ₹1,11,600. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,23,200.

Hem Securities Limited is acting as the lead manager to the issue. The registrar of the IPO is Bigshare Services Pvt Ltd, and Hem Finlease Private Limited will act as the market maker for this issue.

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TGIF Agribusiness Limited IPO Subscription Analysis And Details
Retail
32.92x
Total
37.19x
As onQIB / NIIRetailTotal
Shares Offered / Reserved326,400326,400652,800
Day 1 08-05-24 06:00 PM
0.88 x2.05 x1.46 x
Day 2 09-05-24 06:00 PM
2.41 x5.90 x4.15 x
Day 3 10-05-24 06:00 PM
41.45 x32.92 x37.19 x
Total No of Applications
10,906
TGIF Agribusiness Limited Valuations
EPS Pre IPO ₹6.85/-
EPS Post IPO ₹4.72/-
P/E Pre IPO 13.58
P/E Post IPO 19.71
RoNW 42.85%
PAT Margin 47.70%
Price to Book Value 9.30
TGIF Agribusiness Limited Company Financials
In Lakhs
In Lakh
31-Mar-2331-Mar-2231-Mar-21
Assets187.5265.33291.62
Revenue232.28207.14181.59
Profit After Tax130.07115.4838.18
About TGIF Agribusiness Limited Company

TGIF Agribusiness Limited, which earlier was known as ARV Farmpro LLP, was established in 2014. It is an active open-field cultivation site for fruit and vegetable varieties.

The company cultivates pomegranates and dragon fruit along with timber plantations on sagwan trees. Besides that, the firm cultivates the seasonal vegetables and fruits including lemons, watermelons, and chilies.

The farmlands of the Company are situated in Ajari, Kasindra, and Kojra in the state of Rajasthan spread over more than 110 acres of land. The land has been rented from Niraj Chhaganraj Gemawat (promoter), Rachna Gemawat (promoter), Niraj Chhaganraj Gemawat HUF, and Vipin Moharir.

The Company sells most of its products to the retailers, wholesalers, retail chains, hypermarkets and mandis under a B2B business model. The company will also sell products directly to the customers through B2C business model called Direct2home Service.

As on November 30, 2023, the company had about 8 people working at different levels of the organization.

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TGIF Agribusiness Limited - Promoter(s)

Mr. Niraj Chhaganraj Gemawat

Ms. Rachana Niraj Gemawat

Pre Issue Share Holding : 99.80%

Post Issue Share Holding : 73.28%

TGIF Agribusiness Limited IPO - Issue Objectives
1

Purchase of agricultural equipment & irrigation system

2

To meet Working Capital requirements

3

General Corporate Purpose.

TGIF Agribusiness Limited IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
TGIF Agribusiness Limited6.856.85N/A13.5773.95N/ARestated Financial Statement
Raghuvansh Agrofarms Ltd4.074.07N/A110.749.19N/AFinancial Results
Bangalore Fort Farms Ltd0.360.36N/A59.920.1N/AFinancial Results

Notes:

  1. The EPS and RoNW of the company are taken as per the Restated Financial Statement for the Financial Year 2022-23.
  2. Return on Net Worth (RoNW) has been computed as net profit after tax divided by closing net worth.
  3. Net worth has been computed in the manner specified in Regulation 2(1)(hh) of SEBI (ICDR) Regulations, 2018.
Contact Details

TGIF Agribusiness Limited

A/52, Fairy Society, 5th Floor, Corporate House, Bodakdev, Ahmedabad - 380054

+079 49887770

cs@tgifagribusiness.com

http://www.tgifagri.com/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200

ipo@bigshareonline.com

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