TGIF Agribusiness IPO: Open/Close Date, Price, Lot Size, Allotment & Subscription

Q: When will TGIF Agribusiness Ltd's IPO open for subscription?

The IPO subscription window will open on May 7, 2024 .

IPO Details

Bidding Dates

07 May '24 - 09 May '24

Minimum Investment

₹1,11,600 / 1 Lot ( 1,200 Shares )

Price Range

₹93

Maximum Investment

₹1,11,600 / 1 Lot ( 1,200 Shares )

Retail Discount

To be announced

Issue Size

₹6.39 Cr

Investor category and sub category

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

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 7, 2024

IPO Closing Date

May 9, 2024

Basis of Allotment

May 12, 2024

Initiation of Refunds

May 13, 2024

Credit of Shares to Demat

May 13, 2024

IPO Listing Date

May 14, 2024

Cut-off time for UPI mandate confirmation

May 9, 2024

About TGIF Agribusiness Ltd

TGIF Agribusiness Limited, established in 2014 and formerly known as ARV Farmpro LLP, specialises in open field cultivation of a diverse range of fruits and vegetables. The company operates over 110 acres of farmland located near the villages of Ajari, Kasindra, and Kojra in the tehsil of Pindwara, district Sirohi, Rajasthan. The land is leased from promoters Niraj Chhaganraj Gemawat, Rachna Gemawat, Niraj Chhaganraj Gemawat HUF, and Vipin Moharir.

Primarily, TGIF Agribusiness focuses on the cultivation of pomegranates, which generate over 95% of its revenue. In addition to pomegranates, the company has diversified its agricultural activities to include dragon fruits and Sagwan trees, contributing to a broader portfolio of high-value crops. Over the past three financial years, the company has also grown and harvested lemons, watermelons, and chillies.

TGIF Agribusiness employs a business-to-business (B2B) model, selling its products to retailers, wholesalers, retail chains, hypermarkets, and mandis. Further expanding its market reach, the company is exploring direct-to-consumer sales through its Direct2home Service, aiming to deliver products directly to customers' homes.

As of November 30, 2023, TGIF Agribusiness maintained a lean operational structure with approximately 8 employees. This streamlined approach supports its efficient management and operations in the agricultural sector.

Industry Outlook:

The Indian agricultural sector will increase to US$ 24 billion by 2025.
Indian food and grocery market is the world’s sixth largest, with retail contributing 70% of the sales.

TGIF Agribusiness Ltd IPO Details

TGIF Agribusiness Ltd IPO Dates

TGIF Agribusiness IPO is open from May 8, 2024, to May 10, 2024. The IPO will be listed on BSE SME.

TGIF Agribusiness Ltd IPO Price Band

TGIF Agribusiness is a fixed-price issue IPO. The price band is set at ₹93 per share.

TGIF Agribusiness Ltd IPO Lot Size

The lot size for TGIF Agribusiness Limited’s IPO is 1,200 shares with a minimum investment of ₹1,11,600.

TGIF Agribusiness Ltd IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

Repayment/prepayment of all or certain of their borrowings
Funding incremental working capital requirements
General corporate purposes

Peer Details

The following are the listed peer companies of TGIF Agribusiness in India:

Raghuvansh Agrofarms Limited
Bangalore Fort Farms Limited

How To Check the Allotment Status of the TGIF Agribusiness Ltd IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of TGIF Agribusiness Ltd

Registered office: A/52, Fairy Society, 5th Floor, Corporate House, Bodakdev, Ahmedabad- 380054, Gujarat, India

Phone: +079 26852554/55/56

E-mail: cs@tgifagribusiness.com

IPO Financials

Particulars	Total Assets8-Month period Ending on November 30, 2023	Year Ending on March 31, 2023	Year Ending on March 31, 2022	Year Ending on March 31, 2021
Total Revenue (in ₹ lakh)	171.79	232.28	207.14	181.59
Profit After Tax (PAT) (in ₹ lakh)	81.41	130.07	115.48	38.18
Cash & Cash Equivalents (in ₹ lakh)	7.64	48.10	3.69	33.43
Net Worth (in ₹ lakh)	190.00	175.89	45.82	257.91
Total Borrowings (in ₹ lakh)	67.30	-	-	-
Return on Equity (%)	44.50%	117.33%	76.04%	15.99%
Return on Capital Employed (RoCE) (%)	42.95%	74.19%	255.09%	15.08%
Diluted Earning Per Share (EPS)-in absolute ₹	4.28	6.85	6.08	2.01

Know before investing

Strengths

TGIF Agribusiness ensures freshness and safety through stringent quality control from plantation to packaging, enhancing brand value and product reliability.
Predominantly a horticulture company, TGIF generates 95% of its revenue from pomegranate farming, while also cultivating dragon fruit, Sagwan trees, lemon, watermelon, and chili.
The management team, led by Niraj Chhaganraj Gemawat and Bharat Bhupendrakumar Thaker, boasts 26 and 25 years of experience respectively in business and agricultural operations, driving consistent growth and market adaptability.

Risks

TGIF Agribusiness heavily relies on pomegranate production, which constitutes over 95% of sales, making it vulnerable to demand shifts and market fluctuations.
Adverse weather patterns, including droughts and extreme rainfall, critically impact TGIF's crop yields and can severely affect business operations and financial health.
Potential product spoilage or contamination during handling, storage, or transport poses legal and reputational risks, impacting TGIF Agribusiness's operational stability and profitability.