Khyati Global Ventures is a 2-Star Export House based in Mumbai, India, specializing in the export of a variety of food products, including ready-to-eat meals, confectioneries, snacks, and general provisions. The company has carved a niche in exporting Indian food items, such as pulses, spices, instant foods, pickles, cookies, mouth fresheners (mukhwas), beverages, ready-to-eat items, and sweets.

The Khyati Global Ventures IPO is a fixed price issue amounting to ₹18.29 crores, which consists of a fresh issue of 10.48 lakh shares worth ₹10.37 crores and an offer for sale of 8.00 lakh shares totaling ₹7.92 crores. The subscription period for this IPO opens on October 4, 2024, and closes on October 8, 2024. The allotment is expected to be finalized around October 9, 2024, with shares listed on the BSE SME and a tentative listing date set for October 11, 2024.

The share price for the IPO is set at ₹99 per equity share, requiring a minimum investment of ₹1,18,800 for retail investors (1,200 shares). High-Net-Worth Individuals (HNIs) must invest in 2 lots (2,400 shares), totaling ₹2,37,600.

Aryaman Financial Services Limited is the book-running lead manager, while Bigshare Services Private Limited serves as the registrar for the issue. Aryaman Capital Markets Limited is the sole market maker for Khyati Global Ventures.

Grey Market Premium and Subscription Status

The Grey Market Premium (GMP) for Khyati Global Ventures IPO is currently expected to be ₹0, indicating no anticipated listing gains. It's crucial to note that the GMP is based on unregulated market conditions and is not a reliable indicator for actual trading.

As of October 8, 2024, at 5:00 PM, the live subscription status indicates that the IPO was subscribed 14.38 times on its third day of the subscription period.

Allotment Process

The allotment date for the Khyati Global Ventures IPO is set for October 9, 2024. Investors can check their allotment status by visiting the registrar’s website and entering their application number, PAN, or DP Client ID.

Objectives of the IPO

Proceeds from the fresh issue will be utilized for the following objectives:

₹745.00 Lakhs for funding working capital requirements.

₹175.36 Lakhs for general corporate purposes.

Financial Performance Overview

Khyati Global Ventures has demonstrated steady financial growth over the past fiscal years, with the following revenue figures:

2024: ₹10,464.09 Lakhs

2023: ₹9,617.14 Lakhs

2022: ₹9,362.70 Lakhs

The EBITDA for the same periods are:

2024: ₹514.55 Lakhs

2023: ₹413.65 Lakhs

2022: ₹377.28 Lakhs

The profit after tax figures were:

2024: ₹253.19 Lakhs

2023: ₹205.66 Lakhs

2022: ₹149.66 Lakhs

For the Khyati Global Ventures IPO, the company is offering shares with a pre-issue EPS of ₹4.89 and a post-issue EPS of ₹3.62. The pre-issue P/E ratio stands at 20.24x, while the post-issue P/E ratio is 27.34x. The company's ROCE for FY24 is 17.73%, and RoAE is 25.58%, indicating that the IPO is reasonably priced.

Conclusion

With the current GMP reflecting 0% potential listing gains, alongside the company's financial metrics, investors are advised to approach the Khyati Global Ventures Limited IPO with caution. Given the financial outlook and overall market conditions, it may be prudent to avoid this IPO for both listing gains and long-term investment.

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