Empyrean Cashews IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 16, 2022Let’s have a detailed review of the company and analytics of the Empyrean Cashews IPO release date, IPO offer price, subscription, Empyrean Cashews Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 37 |
| Listing At | NSE, SME |
| Min. Order Quantity | 3000 Shares |
| Listing Date | Mar 31, 2022 |
| Offer for Sale | Rs Lakhs |
| Fresh Issue | Rs 1941 Lakhs |
| IPO Size | Rs 1941 Lakhs |
| Tick Size | 1 |
Empyrean Cashews IPO is listed at a Rs. 27 premium. Check out the live share price by clicking on the below link.
Empyrean Cashews IPO – Summary
Their Company was incorporated as a private limited company vide certificate of incorporation dated March 21, 2014 bearing corporate identity number U74120MH2014PTC254748 issued by Registrar of Companies, Mumbai, Maharashtra.
Subsequently pursuant to a special resolution passed at the EGM dated November 08, 2021 their Company was converted from a private limited company to a public limited company and consequently the name of their Company was changed to ‘Empyrean Cashews Limited’ and a fresh certificate of incorporation dated November 22, 2021 bearing corporate identification U74120MH2014PLC254748 number was issued by the Registrar of Companies, Mumbai, Maharashtra.
The Promoter of this company is APARNA MORALE BANGAR, NANA PARAKASH MHASKE AND ANANT PANDURANG KULKARNI. The lead manager to the issue is Systematix Corporate Services Limited, and the Registrar to this issue is Purva Sharegistry (India) Private Limited.
Empyrean Cashews IPO Date
The opening and the closing date of Empyrean Cashews IPO are Mar 21, 2022 and Mar 23, 2022 Respectively.
Empyrean Cashews IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 21st March | 1.50x | 0.27x | 0.88x |
| 2nd Day – 22nd March | 2.53x | 0.97x | 1.75x |
| 3rd Day – 23rd March | 2.92x | 1.63x | 2.28x |
| Shares Offered or Net Issue | 2,491,500 | 2,491,500 | 4,983,000 |
The shares subscribed by the public will be updated here.
Check Empyrean Cashews IPO LIVE Subscription
- Empyrean Cashews IPO LIVE Bid details on NSE
- Empyrean Cashews IPO LIVE Bid details on SME
For the Latest Bid details click on the above links.
Empyrean Cashews IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Empyrean Cashews Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Mar 28, 2022 |
| Refunds Initiation | Mar 30, 2022 |
| Credit of Shares to Demat Account | Mar 30, 2022 |
| Share Listing Date | Mar 31, 2022 |
Empyrean Cashews IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.37
Empyrean Cashews IPO Equity Size
This Initial Public Issue of 5,247,000 Equity Shares of Rs.10 each for cash at a price of Rs.37 per equity share aggregating to Rs.1941 Lakhs.
Empyrean Cashews IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 5,247,000 Equity Shares of Rs.10/ each.
Issue Size: 5,247,000 Equity Shares of Rs.10 each, aggregating to Rs.1941 Lakhs
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Empyrean Cashews IPO – Live Performance
The listing date of this IPO is Mar 31, 2022. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Empyrean Cashews Share Price |
Empyrean Cashews IPO Grey Market Premium
The Empyrean Cashews Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Empyrean Cashews IPO – Company Overview
Empyrean Cashews Limited commenced operations in 2014 under the name and style of the brand “Krishival Cashews”. Their Company was incorporated in 2014 and is engaged in processing raw cashew nuts into finished cashew kernels in different flavours, with a presence in more than 26 tier II and tier III towns and cities.
They primarily cater to the domestic market with a network of more than thirty (30) distributors across India. Empyrean Cashews procure majority of their raw materials by way of import from certain African and Asian countries and also from the Konkan region of India. They focus on quality of their products to increase their presence across the country.
As on date of this Prospectus, their Company has one Subsidiary namely, Siddhivinayak Cashew Industries Private Limited.
Empyrean Cashews IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | ||||
| 31-Oct-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Total Assets | 3,607.22 | 3,597.46 | 3,232.81 | 3,291.22 |
| Total Revenue | 2,722.71 | 2,858.08 | 4,438.69 | 5,047.27 |
| Total Expense | 2,511.02 | 2,755.80 | 4,309.67 | 4,942.02 |
| Profit After Tax | 166.69 | 66.74 | 95.60 | 64.95 |
Earnings per Equity Share (in Lakhs)
| 31-Oct-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 1.15 | 0.46 | 0.66 | 0.47 |
Further, their PAT for the period ended on Oct 31, 2021, March 31, 2021, March 31, 2020, and March 31, 2019, were Rs.166.69 Lakhs, Rs.66.74 Lakhs, Rs.95.60 Lakhs and Rs.64.95 Lakhs respectively.
Empyrean Cashews IPO – Promoters
The Promoter of this company is:
- APARNA MORALE BANGAR
- NANA PRAKASH MHASKE
- ANANT PANDURANG KULKARNI
List of Related Parties (Key Managerial Personnel)
- Aparna Morale Bangar, Managing Director and Chairperson
- Nana Prakash Mhaske, Executive Director and Chief Executive Officer
- Anant Pandurang Kulkarni, Executive Director and Chief Financial Officer
- Shailesh Kumar Jain, Independent Non-executive Director
- Neeraj Kulbhushan Taandon, Independent Non-executive Director
- Sunil Kumar Agarwal, Independent Non-executive Director
Empyrean Cashews IPO – Promoters Holding
- Pre Issue Share Holding – 56.99%
- Pos Issue Share Holding – 41.88%
Empyrean Cashews IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 52,47,000 Equity Shares aggregating up to Rs.1,941.39 Lakhs. |
| of which: | |
| Issue Reserved for the Market Makers | Up to 2,64,000 Equity Shares aggregating up to Rs.97.68 Lakhs. |
| Net Issue to the Public | Up to 49,83,000 Equity Shares aggregating up to Rs.1,843.71 Lakhs |
| Of which: | |
| Retail Investors Portion | Not less than 24,91,500 Equity Shares |
| Other than Retail Individual Investors | Not more than 24,91,500 Equity Shares |
| Equity Shares outstanding prior to the Issue | 1,45,48,141 Equity Shares |
| Equity Shares outstanding after the Issue | 1,97,95,141 Equity Shares |
Empyrean Cashews IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. To meet the Working Capital Requirements
2. General Corporate Purposes
3. To meet the Issue Expenses
Empyrean Cashews IPO – Business Strategy
- Enhance customer base by entering new geographies and registration on e-commerce platforms/webistes to increase their reach
- Focus on consistently meeting quality standards
- Establish and develop long-term relationship with their Suppliers, Distributors and Stockiest.
Empyrean Cashews IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced Promoter and Management
- Scalable Business Model
- Existing relationship with suppliers and customers
- Cost effective production and timely fulfilment of orders
- Growing presence of brand Krishival in more than 26 cities and tier II and tier III towns across India.
- Consistency in maintaining crunchiness and aroma
- Huge untapped market to grow approx. ₹20,800 crores
- Brand Krishival can be leveraged by expanding to other nuts and nuts-based products
- Continuous upgrading in automation and production process
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 0.46 | 3.44 | 13.36 |
| 31-Mar-20 | 0.66 | 4.93 | – |
| Mar-19 | 0.47 | 3.77 | – |
Empyrean Cashews IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Empyrean Cashews Limited | 10 | 80.43 | 0.46 | 3.44 | 2,858.08 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Empyrean Cashews IPO Lead Managers
| Lead Managers |
| Systematix Corporate Services Limited The Capital, A-Wing, No. 603-606 6th Floor, Plot No. C-70, G-Block Bandra-Kurla Complex, Bandra (East) Mumbai -400 051 Maharashtra, India Tel: +91 22 6704 8000; Fax: +91-22-6704 8022 Website: www.systematixgroup.in Email: mb.ipo@systematixgroup.in Investor Grievance Id: investor@systematixgroup.in Contact Person: Manish Tejwani/Jinal Sanghvi SEBI Registration No: INM000004224 |
Empyrean Cashews IPO Registrar to offer
| Registrar to the Offer |
| Purva Sharegistry (India) Private Limited 9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower Parel (East), Mumbai – 400 011. Tel: + 91 22 23012518/8261 Fax: + 91 22 23012517 Website: www.purvashare.com/ Email: support@purvashare.com; Investor Grievance Id: support@purvashare.com Contact Person: Rajesh Shah/Purva Shah/ Deepali Dhuri SEBI Registration No: INR000001112 |
Empyrean Cashews IPO – Other Details
- Statutory Auditor – M/s Tamanna Parmar & Associates, Chartered Accountants
- Legal Counsel to the Company – M/s Crawford Bayley & Co.
- Bankers to the Company – M/s Axis Bank Limited
Empyrean Cashews IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Empyrean Cashews Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Empyrean Cashews IPO Review FAQs
Ques – What is the Issue Size of Empyrean IPO?
Answer – The Company is making an initial public offer of 5,247,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and the net issue.
Ques – What is the Price band of Empyrean Cashews IPO?
Answer – The price band for this particular IPO ranges between Rs.37. As far as the face value of the share is of concern, it is Rs.10 per share.
Ques – What is the Empyrean Cashews IPO Open Date?
Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on Mar 21, 2022, while the closing date is set at Mar 23, 2022.
Ques – What is the Empyrean Cashews IPO Allotment Date?
Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Mar 28, 2022, refund initiation is on Mar 30, 2022, credit of shares is on Mar 30, 2022, and share listing date is on Mar 31, 2022.
Ques – What is the Empyrean Cashews IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges Mar 31, 2022. The date, when the listing would be done, is stagnant on Mar 31, 2022.
Ques – Who is the Registrar of Empyrean Cashews IPO?
Answer – One of the reputed registrars is managing the issue of this IPO, i.e. Purva Sharegistry (India) Private Limited. Their website will help you regarding the further information you are on the lookout for.
Ques – Who is the Promoter of Empyrean Cashews IPO?
Answer – Here are the promoters of this IPO – APARNA MORALE BANGAR, NANA PARAKASH MHASKE AND ANANT PANDURANG KULKARNI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is GMP of Empyrean IPO?
Answer – They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Empyrean Cashews IPO good for Investment?
Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of Empyrean Cashews Company?
Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Lakhs is 66.74, 2020 is 95.60, 2019 is 64.95. PAT from Oct 2021 is 166.69.
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