Proventus Agrocom IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: May 26, 2023Let’s have a detailed review of the company and analytics of the Proventus Agrocom IPO release date, IPO offer price, subscription, Proventus Agrocom 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 771 |
| Listing At | NSE, SME |
| Min. Order Quantity | 160 Shares |
| Listing Date | 5 June 2023 |
| Offer for Sale | Rs 1,774 Lakh |
| Fresh Issue | Rs 5,180 Lakh |
| IPO Size | Rs 6,954 Lakh |
| Tick Size | 1 |
Proventus Agrocom IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Proventus Agrocom Share Price |
Proventus Agrocom IPO – Summary
They are an integrated health food brand with a presence in the entire range of dry fruits, nuts, seeds and berries and healthy snacking products across the value chain.
Their approach in the space focuses on diversifying across the baskets and intensifying their presence across the value chain; in the end, being a ‘one-stop shop’ for their consumers. The motto of Proventus is to create expertise in healthy food products and build the revenue stream by moving across the value chain.
The Promoter of this company is E DURGA PRASAD JHAWAR, DEEPAK KUMAR AGRAWAL, SHALIN SANJIV KHANNA AND SHREE JMD INVESTMENT ADVISORS LLP. The lead manager of the issue is Sundae Capital Advisors Private Limited, and the Registrar of this issue is BIG SHARE SERVICES PRIVATE LIMITED.
Proventus Agrocom IPO Date
The opening and closing dates of Proventus Agrocom IPO are 24 May 2023 and 26 May 2023 respectively.
Proventus Agrocom IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 24th May | 0.05x | 0.02x | 0.04x |
| 2nd Day – 25th May | 0.37x | 0.14x | 0.26x |
| 3rd Day – 26th May | 4.30x | 0.74x | 2.61x |
| Shares Offered or Net Issue | 473,550 | 428,450 | 902,000 |
The shares subscribed by the public will be updated here.
Proventus Agrocom IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares are 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.
Proventus Agrocom Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | 31 May 2023 |
| Refunds Initiation | 1 June 2023 |
| Credit of Shares to Demat Account | 2 June 2023 |
| Share Listing Date | 5 June 2023 |
Proventus Agrocom IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.771
Proventus Agrocom IPO Equity Size
This Initial Public Issue of 902,000 Equity Shares of Rs.10 each for cash at a price of Rs.771 per equity share aggregating to Rs.6,954 Lakh.
Proventus Agrocom IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 671,853 Equity Shares of Rs.10/ each.
Issue Size: 902,000 Equity Shares of Rs.10 each, aggregating to Rs.6,954 Lakh
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Proventus Agrocom IPO – Live Performance
The listing date of this IPO is 5 June 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Proventus Agrocom Share Price |
Proventus Agrocom IPO Grey Market Premium
The Proventus Agrocom Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Proventus Agrocom IPO – Company Overview
There is a large vacuum in the “healthy snacking” space in India especially in the dry fruits, nuts, seeds and berries category.
In the last few years, there has been a shift in consumer preference from unbranded/loose produce to branded products all the way down to Tier 2 city Kirana stores also.
As consumer preference gravitates towards better quality branded produce, they are looking for a trustworthy brand offering innovative products from natural to flavour-augmented healthy snacks.
This is where ‘ProV’ is positioned with its wide range of healthy snacks in the dry fruits, nuts, seeds and berries category. With its pan-India distribution and easy availability, ProV aims to be THE brand consumers think of whenever they want to buy nuts or dry fruits.
Proventus Agrocom 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 & Lakh) | ||||
| 31-Dec-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Total Assets | 9,735.37 | 10,131.13 | 8,843.36 | 8,936.94 |
| *Total Revenue | 31,909.63 | 40,434.57 | 30,173.92 | 90,089.01 |
| Total Expense | 31,672.02 | 40,278.14 | 29,925.82 | 92,948.55 |
| Profit After Tax | 189.82 | 114.03 | 187.90 | (2,190.46) |
Earnings per Equity Share (in Lakh)
| 31-Dec-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 7.64 | 4.59 | 7.56 | (88.12) |
Further, their PAT for the period ended on June 30, 2022, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 189.82 Lakh, Rs. 114.03 Lakh, Rs. 187.90 Lakh and Rs. (2,190.46) Lakh respectively.
Proventus Agrocom IPO – Promoters
The Promoter of this company is:
- E DURGA PRASAD JHAWAR
- DEEPAK KUMAR AGRAWAL
- SHALIN SANJIV KHANNA
- SHREE JMD INVESTMENT ADVISORS LLP
List of Related Parties (Key Managerial Personnel)
- Ranganathan Subramanian, Chairman and Independent Director
- Durga Prasad Jhawar, Managing Director & CEO
- Deepak Kumar Agrawal, Whole Time Director
- Shalin Sanjiv Khanna, Whole Time Director
- Swati Durgaprasad Jhawar, Non-Executive Non-Independent Director
Proventus Agrocom IPO – Promoters Holding
- Pre-Issue Share Holding – 92.29%
- Post-Issue Share Holding – 70.84%
Proventus Agrocom IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 902,000 Equity Shares aggregating up to Rs.6,954 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 45,100 Equity Shares aggregating up to Rs.347.72 Lakh |
| Net Issue to the Public | Up to 8,56,900 Equity Shares aggregating up to Rs.6,606.70 Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 4,28,450 Equity Shares |
| Other than Retail Individual Investors | Not more than 4,28,450 Equity Shares |
| Equity Shares outstanding prior to the Issue | 27,55,768 Equity Shares |
| Equity Shares outstanding after the Issue | 34,27,621 Equity Shares |
Proventus Agrocom IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Funding working capital requirements of their Company;
- Funding working capital requirements of their material subsidiary namely, Prov Foods Private Limited; and
- General Corporate Purposes
Proventus Agrocom IPO – Business Strategy
- Creating a leading position for their flagship brand ProV
- Increasing healthy snack awareness and consumption
- Strengthening their business through effective branding, promotional and digital marketing activities
- Capitalize on the increasing e-commerce penetration in Indian retail as well as within their category
- Continue to invest in their brands
Proventus Agrocom 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:
- Diversified product portfolio focused on various consumer segments and markets
- Extensive distribution network, arrangement with reputed chain stores and growing e-commerce channel
- Established and strong sourcing base
- Capital-efficient and scalable retail model to capitalize on the strong industry growth profile driven by a rapid shift towards a healthy lifestyle and hygienic food snacking trends, organized retail and increasing online penetration
- Using dry fruits are broken and shells and skins of the raw material to derive maximum value realisation
- Experienced Promoters and Management team
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 4.14 | 1.91 | 223.80 |
| 31-Mar-21 | 6.82 | 3.22 | – |
| Mar-20 | (79.49) | NA | – |
Proventus Agrocom IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Proventus Agrocom Limited | 10 | 186.23 | 4.14 | 1.91 | 40,326.68 |
| Listed Peers | |||||
| Krishival Foods Limited | 10 | 112.72 | 2.32 | 8.05 | 5,228.54 |
Proventus Agrocom IPO Lead Managers
| Lead Managers |
| Sundae Capital Advisors Private Limited Level 11, Platina, Plot No C – 59, ‘G’ Block, Bandra Kurla Complex Bandra (East), Mumbai – 400 051, Maharashtra, India Tel. No. +91 22 6884 1336 Email: prov.ipo@sundaecapital.com Investor Grievance e-mail id: grievances.mb@sundaecapital.com Website: www.sundaecapital.com SEBI Regn. No.: INM000012494 Contact Person: Rajiv Sharma / Anchal Lohin |
Proventus Agrocom IPO Registrar to offer
| Registrar to the Offer |
| Bigshare Services Private Limited Office No. S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai – 400 093, Maharashtra, India Tel.: + 91 22 6263 8200 Fax: +91 22 6263 8299 E-mail ID: ipo@bigshareonline.com Website: www.bigshareonline.com SEBI Regn. No.: INR000001385 Contact Person: Babu Raphael |
Proventus Agrocom IPO – Other Details
- Statutory Auditor – Mukesh Chechani & Co., Chartered Accountants
- Legal Counsel to the Company – Rajani Associates, Advocates and Solicitors
- Bankers to the Company – Canara Bank, IndusInd Bank Limited and Kotak Mahindra Bank Limited
Proventus Agrocom 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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Proventus Agrocom Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Proventus Agrocom IPO Review FAQs
Check out various FAQs related to Proventus Agrocom IPO:
What is the Issue Size of Proventus Agrocom IPO?
The Company is making an initial public offer of 902,000 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 net issue.
What is the Price band of Proventus Agrocom IPO?
The price band for this particular IPO ranges between Rs 771. As far as the face value of the share is of concern, it is Rs. 10 per share.
What is the Proventus Agrocom IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on 24 May 2023, while the closing date is set at 26 May 2023.
What is the Proventus Agrocom IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on 31 May 2023, refund initiation is on 1 June 2023, credit of shares is on 2 June 2023, and share listing date is on 5 June 2023.
What is the Proventus Agrocom IPO Listing Date?
Shares of this company shall be listed in the exchanges on 5 June 2023. The date, when the listing would be done, is stagnant on 5 June 2023.
Who is the Registrar of Proventus Agrocom IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Proventus Agrocom IPO?
Here are the promoters of this IPO – E DURGA PRASAD JHAWAR, DEEPAK KUMAR AGRAWAL, SHALIN SANJIV KHANNA AND SHREE JMD INVESTMENT ADVISORS LLP. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Proventus Agrocom IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Proventus Agrocom IPO Good for Investment?
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.
What is the PAT of Proventus Agrocom Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Lakh is 114.03, 2021 is 187.90, and 2020 is (2,190.46). PAT from Dec 2022 is 189.82.
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