Freshara Agro Exports is a prominent player in the agro-exports sector, focusing on the procurement, processing, and exporting of preserved gherkin and other pickled commodities from India to various international markets. The company prioritizes sustainable agricultural practices by sourcing directly from accredited farms and establishing buy-back agreements with farmers. This approach allows Freshara to provide essential sowing materials, such as seeds, to small and marginal farmers, fostering a commitment to sustainability.

The company is currently conducting a Book Built Issue totaling ₹75.39 Crores, consisting entirely of a fresh issue of 64.99 lakh shares. The IPO subscription period is open from October 17 to October 21, 2024, with share allotments expected to be finalized on or around Tuesday, October 22, 2024. The shares are slated for listing on the NSE SME with a tentative listing date of Thursday, October 24, 2024.

The share price band for the Freshara Agro Exports IPO is set between ₹110 to ₹116 per equity share, with a minimum lot size of 1,200 shares. Retail investors are required to make a minimum investment of ₹1,39,200, while High-Net-Worth Individuals (HNIs) must invest at least ₹2,78,400 for 2 lots (2,400 shares).

GYR Capital Advisors Private Limited serves as the book-running lead manager, while Purva Sharegistry (India) Private Limited is the registrar for the issue. Giriraj Stock Broking Private Limited will function as the market maker for Freshara Agro Exports' IPO, enhancing liquidity and support for investors.

Freshara Agro Exports Limited IPO GMP Today

As of now, the Grey Market Premium (GMP) for Freshara Agro Exports Limited is projected at ₹35, indicating a potential gain for investors based on the company's financial performance. It is important to note that the GMP is driven by the dynamics of demand and supply in the unorganized market and does not reflect any actual trading. Therefore, the GMP is mentioned solely for educational and informational purposes.

Freshara Agro Exports Limited IPO Live Subscription Status

As of 07:10 PM on October 21, 2024, the live subscription status for the Freshara Agro Exports IPO indicates an impressive subscription rate of 205.98 times on the third day of the subscription period. This strong demand underscores the interest of investors in the company's growth potential. For real-time updates, investors can check the Freshara Agro Exports IPO live subscription status at NSE.

Freshara Agro Exports Limited IPO Anchor Investors Report

Freshara Agro Exports has successfully secured ₹20.43 Crores from Anchor Investors at a price of ₹116 per share following consultations with the book-running lead managers. The company has allocated 17,61,600 equity shares to anchor investors, reflecting robust institutional interest in the IPO.

Objectives of Freshara Agro Exports Limited IPO

The proceeds from the fresh issue will be utilized for the following objectives:

₹879.97 Lakhs for meeting capital expenditure needs.

₹5,600.00 Lakhs for funding working capital requirements.

General corporate purposes.

Covering issue expenses.

Freshara Agro Exports IPO Review

The company is steered by experienced promoters and directors, Mr. Junaid Ahmed and Mr. Iqbalahmed Khudrathullah Mohammed, who collectively possess over 9 years of experience in the gherkins and pickled vegetables export business.

The financial performance of Freshara Agro Exports over the past years reflects steady revenue growth:

Financial Year 2021-22: ₹11,840.68 Lakhs

Financial Year 2022-23: ₹12,700.22 Lakhs

Period ended January 23, 2024: ₹12,476.60 Lakhs

Period from January 24, 2024, to March 31, 2024: ₹7,324.98 Lakhs

The EBITDA figures also indicate strong operational performance:

Financial Year 2022: ₹495.41 Lakhs

Financial Year 2023: ₹1,749.30 Lakhs

Period ended January 23, 2024: ₹2,176.09 Lakhs

Period from January 24, 2024, to March 31, 2024: ₹1,385.66 Lakhs

The Profit After Tax for these periods is as follows:

Financial Year 2022: ₹97.36 Lakhs

Financial Year 2023: ₹908.20 Lakhs

Period ended January 23, 2024: ₹1,185.64 Lakhs

Period from January 24, 2024, to March 31, 2024: ₹996.77 Lakhs

For the Freshara Agro Exports IPO, the company is offering shares with a pre-issue EPS of ₹12.83 and a post-issue EPS of ₹9.29. The pre-issue P/E ratio is 9.04x, while the post-issue P/E ratio stands at 12.49x. The company's ROCE for the initial two months of FY24 is reported at 10.04%, with a RoE of 36.96%, suggesting that the IPO is reasonably priced.

The GMP indicates potential listing gains of 30%, making this IPO an appealing consideration for investors. Given the financial performance and valuation metrics, we recommend that only risky investors apply for the Freshara Agro Exports Limited IPO for potential listing gains or long-term investment opportunities.

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