Proventus Agrocom IPO: Open/Close Date, Price, Lot Size, Allotment, Subscription

IPO Details

Bidding Dates

23 May '23 - 25 May '23

Minimum Investment

₹123,360 / 1 Lots ( 160 Shares )

Price Range

₹771

Maximum Investment

₹123,360 / 1 Lots ( 160 Shares )

Retail Discount

Not Applicable

Issue Size

₹69.54 Cr

Investor category and sub category

Qualified Institutional Investors | Non-Institutional Investors | Retail Individual Investor |

Proventus Agrocom IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 23, 2023

IPO Closing Date

May 25, 2023

Basis of Allotment

May 30, 2023

Initiation of Refunds

May 31, 2023

Credit of Shares to Demat Account

Jun 1, 2023

IPO Listing Date

Jun 4, 2023

UPI Mandatory Expiry Date

May 25, 2023

Proventus Agrocom IPO Subscription Details

Date	NII	Retail	Total
Day 1May 23, 2023	0.05	0.02	0.04
Day 2May 24, 2023	0.37	0.14	0.26
Day 3May 25, 2023	0.45	0.17	0.32

Proventus Agrocom IPO Subscription Status Live

Investor Category	Subscription (Times)
Qualified Institutions Buyer	[.]
Non-Institutional Investors	0.45
Retail Investors	0.17
Employees	[.]
Others	[.]
Total	0.26

About Company

Proventus Agrocom is an integrated health food brand, present across the entire range of dry fruits, nuts, trail mix, berries, seeds, etc. Proventus Agrochem markets healthy snacks under the brand ProV. It has positioned itself as a one-stop shop for customers, operating through a business model of 'farm to home', where it generates streams of revenue from origination to distribution.

The company established its brand in 2017 and is currently selling 100+ SKUs in 15 Indian states. Proventus has a processing unit located in Mahape, Navi Mumbai.

Proventus Agrocom Limited IPO Details

The Proventus Agrocom Ltd. IPO subscription window for retail investors will open on May 24, 2023. It will remain active for two days before closing on May 26, 2023. Fresh issues aggregating up to Rs. 51.80 crore are combined with an offer for sale equity portion worth Rs. 17.74 crore for the IPO offer, aggregating up to Rs. 69.54 crore.

The IPO share price for the fixed price issue has been set at Rs. 771. Retail investors can apply for one lot of 160 shares.

Proventus Agrocom Limited IPO Objective

The objectives of the Proventus Agrocom IPO are listed below.
To fund the working capital requirement of the company and its subsidiary
To meet general corporate purposes

Should you invest in Proventus Agrocom Limited?

Here are a few important reasons to consider before investing in the IPO:

Proventus offers a wide range of healthy snacking options, including nuts, berries, seeds,and dry fruits in the packaged dry fruit segment.
The products are offered on websites, e-commerce platforms like Amazon and Flipkart, and retail stores like Demat, More Retail, Metro, Cash & Carry, and local shops.
The company is present across the value chain, from origination to distribution, creating multiple revenue points.
The brand is backed by Chef Sanjeev Kapoor and KS Narayanan.
Higher brand consciousness, growing digitization, changing lifestyles, and a greater focus on healthy and hygienic foods will drive more growth in the market.

Competitive Peers

The other player as recognised by the company in DRHP is Krishival Foods Ltd.

Noteworthy Highlights of Proventus Agrocom Ltd. The company’s revenue from operations grew at 47.99% from FY2020 to FY 2022.

Noteworthy Highlights of Proventus Agrocom Ltd.

The company’s revenue from operations grew at 47.99% from FY2020 to FY 2022.

Proventus Agrocom Company Financials

Particulars	Year ending in December 31, 2022 ( Rs. lakhs)	Year ending in March 31, 2022 ( Rs. lakhs)	Year ending in March 31, 2021 ( Rs. lakhs)
Revenue from Operations	31,789.26	40,326.68	30,087.50
Profit After Tax (PAT)	182.89	114.12	187.90
EBITDA	400.33	349.91	310.51
EBITDA Margin	0.82%	1.16%	0.35%

Know before investing

Strengths

It offers a diversified product portfolio, targeting different customer groups.
It is led by experienced promoters.
The company has established a scalable retail model to capitalise on industry growth.

Risks

Deterioration in product quality can damage the brand’s reputation and business prospects.
Interruptions in the supply chain or non-availability of raw materials can hurt its performance.
The business is environmentally sensitive by nature, and any disruption due to unpredictable weather conditions can adversely affect its performance.

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Proventus Agrocom IPO FAQs

What is Proventus Agrocom Limited's IPO?

The Proventure Agrocom Ltd. IPO worth Rs. 69.54 crore opens for subscription on May 24, 2023. It combines fresh issues aggregating up to Rs. 51.80 crore and offer-for-sale equities of Rs. 17.74 crore.

When will Proventus Agrocom Limited's IPO allotment be available?

The Basis of Allotment will be conducted on May 31, 2023.

What will be Proventus Agrocom Limited's IPO lot size?

The lot size for Proventus Agrocom Ltd. is 160 equity shares for one lot.

When will Proventus Agrocom Limited's IPO open for subscription?

The IPO subscription window will open on May 24. 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot.

When will Proventus Agrocom Limited list on exchanges?

Proventure Agrocom Ltd.’s IPO will list on the NSE exchange on June 5, 2023.

How do I check the allotment status of the Proventus Agrocom Limited IPO?

It is easy to check the Proventus Agrocom Limited IPO allotment status from Angel One’s mobile app by following some simple steps.