The Freshara Agro Exports IPO is set to open for subscription on October 17, 2024, offering a fresh issue size of ₹75.39 crore. The IPO will run until October 21, 2024, and the shares will be listed on the NSE SME segment, with a tentative listing date of October 24, 2024. This is a book-built issue, with the company offering 64.99 lakh shares in this IPO. The price band has been set at ₹110 to ₹116 per share, making it a competitive entry point for both retail investors and HNIs.

For retail investors, the minimum lot size is 1200 shares, requiring an investment of ₹139,200. For high-net-worth individuals (HNIs), the minimum application is for 2 lots, which amounts to ₹278,400. This IPO represents a significant opportunity for investors seeking to capitalize on the growing market for processed and pickled vegetables, an industry where Freshara Agro Exports has established a strong foothold.

Established in 2015, Freshara Agro Exports Limited is one of India’s leading exporters of preserved gherkins and pickled vegetables. The company was formerly known as Freshara Picklz Exports and is headquartered in Tamil Nadu. Its primary business revolves around procuring, processing, and exporting pickled products to international markets. By working closely with local farmers in Tamil Nadu, Karnataka, and parts of Andhra Pradesh, the company ensures a steady supply of raw agricultural produce. These products are either directly exported for further processing or sold to international food brokers and traders.

The company operates under a contract farming program, enabling it to procure high-quality gherkins, baby corn, jalapenos, and other pickled vegetables. About 70% of the company's produce is "not ready-to-eat" and is supplied directly to factories for further processing and conversion into finished products. The remaining 30% is exported to international markets, catering to the needs of food brokers and traders who further process or distribute the goods.

As of March 31, 2024, Freshara Agro Exports processes and exports its products in three distinct packaging categories:

Industrial packaging in food-grade drums and pails

Food packaging in plastic buckets and tin cans

Retail packaging in glass jars and tin cans

These diverse packaging options enable the company to cater to a wide range of clients, from large-scale food manufacturers to individual consumers purchasing in retail markets. Freshara Agro Exports has earned a strong reputation in the global food industry and is accredited by several leading organizations, including the Food Safety and Standards Authority of India (FSSAI), the United States Food & Drug Administration (FDA), Star-K Kosher, Agricultural and Processed Food Products Export Development Authority (APEDA), and Brand Reputation through Compliance Global Standard (BRCGS). These certifications underline the company's commitment to maintaining high-quality standards across its operations.

The Freshara Agro Exports IPO provides an opportunity for the company to raise the necessary capital to fund its future expansion. The funds raised from this IPO will be utilized for the following:

Capital Expenditure to enhance the company's production capacity and infrastructure.

Working capital requirements to support the company’s growing business operations.

General corporate purposes, which include strengthening the company's financial position and optimizing its operational capabilities.

Issue-related expenses, such as underwriting fees, legal expenses, and other administrative costs.

Investors interested in the food processing and agricultural export sectors will find this IPO particularly appealing, as Freshara Agro Exports is poised for growth, given the increasing demand for preserved vegetables in the international market. The company has already established a robust export business, with a focus on gherkin production—a niche that has strong potential in both developed and emerging markets.

The company’s steady growth is underpinned by its established contract farming network, which not only supports local farmers but also ensures a consistent supply of raw materials, essential for its processing operations. With its range of pickled products and strategic relationships in the global market, Freshara Agro Exports is well-positioned to capitalize on future opportunities in the agri-export industry.

For those tracking upcoming IPOs in 2024, Freshara Agro Exports presents a unique opportunity to invest in a company with a strong foothold in the pickled goods export industry.

The current active IPO is Pranik Logistics Limited.

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