Let’s have a detailed review of the company and analytics of the Greens Food Crafts India Limited IPO release date, IPO offer price, subscription, Greens Food Crafts India Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Greens Food Crafts India Limited IPO Review & Ratings
|IPO Ratings & Review|
|Top Brokers Review||7.9/10|
Summary of Greens Food Crafts India Limited IPO
The Company was incorporate on 30th January, 2009. Since inception the Group were into the business of growing and exporting of fresh exotics English vegetables to European market using imported Green Houses.
They were operating the Business from the Company and the Group Companies Malnad Plantations (mainly into producing, marketing, selling and exporting of coffee & other plantation products and management of coffee estate and plantation land), Greens Nature’s Fresh Farms Private Limited (Mainly into farming, sale of Agricultural products and Exports), Greens Natures Fresh Produce Private Limited (mainly into farming and sale of Agricultural products.
The Company inter-alia is engaged in farm plantation, processing, logistics and deemed exports of vegetables including exotics and English vegetables and fruits) and Mamatha Speciality Foods Private Limited (mainly into processing and sale of Readymade packaged and processed food products).
Earlier Exports were done from the Group Company Greens Nature’s Fresh Farms Private Limited and deemed export from Greens Natures Fresh Produce Private Limited.
From FY 2016-17 to FY 2018-19, as per the Restated Financial Statements
Over the course of 3 years their total Revenue was Rs. 190.59 Lakhs in 2016, Rs. 224.71 Lakhs in 2017, Rs. 466.26 Lakhs in 2018. PAT is Rs. 14.61 Lakhs in 2016, Rs.48.31 Lakhs in 2017, Rs. 237.32 Lakhs in 2018.
The Promoters of this company are Arya Ved Trust, Mr. Satish Madhavanarayanan and Mr. Anil Chennalinge Gowda. The lead manager to the issue is Finshore Management Services Limited and the Registrar to this issue is Integrated Registry Management Services Private Limited.
Greens Food Crafts IPO Date
The opening and the closing date of Greens Food Crafts India Limited IPO is not known yet.
Greens Food Crafts IPO Subscription
|Day / Date||QIB||NII||RII||Total Subscription|
|1st Day –|
|2nd Day –|
|3rd Day –|
|4th Day –|
|5th Day –|
|Shares Offered or Net Issue|
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Greens Food Crafts India Limited IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Greens Food Crafts Limited IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Greens Food Crafts IPO Equity Share Offering
Issue of 35,12,400 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. 117 per Equity Share (including a share premium of Rs. 107 per Equity share) aggregating Rs. 4109.51 lakhs.
Greens Food Crafts India Limited – Company Overview
The Company was incorporated on January 30, 2009, as “Greens Processed Herbs Private Limited” under the provisions of the Companies Act, 1956 with the Registrar of Companies, Bangalore bearing Registration Number 049012. They subsequently changed the name of the Company from “Greens Processed Herbs Private Limited” to “Greens Food Crafts India Private Limited” pursuant to shareholders resolutions passed at the Extra Ordinary General Meeting held on April 29, 2013.
A fresh Certificate of Incorporation consequent upon name change was granted to the Company on May 15, 2013 by the Registrar of Companies, Bangalore. Subsequently, the Company was converted into public limited company pursuant to Shareholders Resolution passed at the Extra Ordinary General Meeting held on April 06, 2019 and the name of the Company was changed to “Greens Food Crafts India Limited” vide a fresh Certificate of Incorporation dated April 29, 2019 issued by the Registrar of Companies, Bangalore.
Business strategies of Greens Food Crafts India Limited
- To Stabilise the Export Basket, and Introduce our own Brand into the European Market
- Increase our focus on processed/prepared food items & goodwill and brand recall and make intellectual properties valuable
- Expansion of Retail outlets to reach the people at large
- Expand both Collection Centre (CC) & Distribution Centre (CC) operations
Greens Food Crafts India Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary of Greens Food Crafts IPO
On the basis of Standalone statement:-
|Amount (in INR & lakhs)|
|Profit After Tax||772.80||63.61||39.92||35.41|
Earnings per Equity Share (in lakhs)
|Basic & Diluted||374.92||63.61||39.92||35.41|
From the above statements, one could find that the Greens Food Crafts India Limited may perform well.
Greens Food Crafts India Limited IPO – Promoters
The Promoter of this company is:
- Arya Ved Trust
- Mr. Satish Madhavanarayanan and
- Mr. Anil Chennalinge Gowda
List of Related Parties (Key Managerial Personnel)
- Mr. Satish Madhavanarayanan- CFO and Managing Director
Interest in promotion of the Company
The Promoter is interested in the Company to the extent they have promoted the Company.
The Promoter does not have any interest in any property acquired by the Company within three years preceding the date of filing this Draft Prospectus or any property proposed to be acquired by the Company or in any transaction with respect to the acquisition of land, construction of building or supply of machinery or any other contract, agreement or arrangement entered into by the Company and no payments have been made or are proposed to be made in respect of these contracts, agreements or arrangements
Interest in Intellectual Rights of the Company
They have made application to register following logos and trademarks i.e. “GREENS”, “Nature’s Fresh”, “Fresh Connection to India”, “Simply Fresh”, “MAMATHA”, “CUP TREAT” and “Simply Organics” and they are awaiting approval for the same under Class 12 of the Trade Marks Act, 1999.
Greens Food Crafts India Limited IPO Offer Details or Issue Details
|Particulars||No. Of Equity Shares|
|Equity Shares Offered||Upto 35,12,400 Equity Shares of Rs 10 each for cash at a|
price of Rs 117 per share aggregating Rs 4109.51 lakhs.
|Reserved for Market Makers||Upto 1,76,400 Equity Shares of Rs 10 each for cash at a|
price of Rs 117 per share aggregating Rs 206.38 lakhs
|Net Issue to the Public||Upto 33,36,000 Equity Shares of Rs 10 each for cash at a|
price of Rs 117 per share aggregating Rs 3903.12 lakhs
|Retail Investors Portion||Upto 16,68,000 Equity Shares of Rs 10 each at a price of Rs|
117 per Equity Share will be available for allocation for Investors of up to Rs 1951.56 lakhs
|Non-Retail Investors Portion||Upto 16,68,000 Equity Shares of Rs 10 each at a price of Rs|
117 per Equity Share will be available for allocation for
Investors of up to Rs 1951.56 lakhs
|Equity Shares outstanding prior to the Issue||98,31,278 Equity Shares|
|Equity Shares outstanding after the Issue||Upto 1,33,43,678 Equity Shares|
Greens Food Crafts India Limited IPO Issue Object
The Company proposes to utilise the Net Proceeds towards funding the following objects:
- Into Financing of upgrade of existing 12 Collections Centers (CC) and setting up new 16 Collection Centers to expand our Farm Gate and Fresh Produce Aggregation capabilities.
- Financing the setting up of a new Distribution Center (DC) to expand our Fresh Produce Distribution capabilities.
- Setting up of a new Processing Facility (PC) to expand our processing capacities t of Fresh Produce
- Financing opening of new Retail Stores to expand our Retail Operations.
- Into Financing Technology and Logistic Automation.
- Financing the General Corporate Purposes which accounts for about 20.33% of overall fund raise (collectively, referred to herein as the “Objects”).
Greens Food Crafts India Limited IPO – Basis of the 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:
- Recognised and awarded for our efforts in the export sector
- Well Established Brand name and goodwill amongst market players
- Experienced Promoter with nearly 2 (two) decades of experience in retail and food industry
- Organized Approach and ready infrastructure
- Technically has a strong team with long standing association with Agri & food business companies both in India & Abroad.
- Comparatively well integrated farm to fork operations with intention to minimise the middle men in its operations
The relevant quantitative factors are:
On the basis of standalone statement:-
|Basic & Diluted EPS||RONW||NAV (Rs.)|
- Price to Earnings (P/E) ratio in relation to Issue Price:
- Competitive Peers:
|Sr. No.||Particulars||Face Value (in Rs.)||EPS (In Rs.)||P/E Ratio||RONW (%)||NAV (In Rs.)|
|1||Greens Food Crafts India Limited||10||7.86||14.88||24.07%||32.66|
|2||Coffee Day Enterprises Ltd||10||0||0||0||85.6|
|3||Freshtrop Fruits Ltd||10||11.3||11.3||14.2||62.1|
Greens Food Crafts India Limited IPO Lead Managers
|FINSHORE MANAGEMENT SERVICES LIMITED|
Anandlok”, Block-A, 2nd Floor, Room No. 207,
227 A.J.C Bose Road, Kolkata-700020, West Bengal
Telephone: +91 – 33 – 22895101
Email: [email protected]
Investor Grievance Email: [email protected]
Contact Person: Mr. S. Ramakrishna Iyengar
SEBI Registration No: INM000012185
Greens Food Crafts India Limited IPO Registrar to offer
|Registrar to the Offer|
|INTEGRATED REGISTRY MANAGEMENT SERVICES PRIVATE LIMITED|
No 30 Ramana Residency, 4th Cross Sampige Road,
Malleswaram, Bengaluru – 560 003
Tel No: 080-23460815-818: Fax No: 080-23460819
Email ID: [email protected]
Investor Grievance Email ID: [email protected]
Contact Person: Mr. S Vijaya Gopal
SEBI Registration No: INR0000544
Greens Food Crafts India Limited IPO Other Details:
- Statutory Auditor – Dinesh Bhatkal & Associates, Chartered Accountants
- Peer Review Auditor – A Biyani & Co., Chartered Accountants
Greens Food Crafts India Limited IPO Review by Top 10 Stock Brokers
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