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M.V.K. Agro Food Product, a dynamic company based in Nanded, Maharashtra, is set to make its mark in the financial landscape with its upcoming Initial Public Offering (IPO).
The IPO is scheduled to open its subscription window on February 29th, with the bidding period extending until March 4th.
The company aims to raise a substantial Rs 65.88 crore through this public offering, issuing 54.9 lakh new shares at a fixed price band of Rs 120 per share.
The minimum lot size for potential investors stands at 1200 shares. Following the conclusion of the IPO, the listing of M.V.K. Agro Food Product’s shares is anticipated on NSE SME on March 7th.
Established in February 2018, M.V.K. Agro Food Product specializes in the production of integrated sugar and related products.
The company has built a robust distribution network, relying on brokers who facilitate sales to prominent export houses such as PepsiCo Holdings India Pvt Ltd, Parle Biscuits Pvt Ltd, and Britannia Industries Ltd.
Additionally, M.V.K. Agro Food Product directly supplies its products to export houses, further diversifying its market reach.
In terms of the IPO allocation, 50 percent of the offering is earmarked for retail investors, while the remaining 50 percent is open to other investors.
Horizon Management Private Limited assumes the crucial role of the book running lead manager for M.V.K. Agro Food Product’s IPO, and Mass Services Limited is designated as the registrar to the issue.
The market maker for this IPO is Nikunj Stock Brokers, adding another layer of financial expertise to the process.
The company’s promoters include Marotrao Venkatarao Kawale, Sagarbai Marotrao Kawale, Ganeshrao Venkatrao Kawale, Kishanrao Venkatrao Kawale, and Sandeep Marotrao Kawale.
Post the IPO, the promoters’ collective stake in the company is expected to reduce to 64.56%.
As of September 30, 2023, M.V.K. Agro Food Product reported a commendable revenue of Rs 60.44 crore, with a net profit standing at Rs 4.3 crore.
This financial performance underscores the company’s growth trajectory and adds an extra layer of attractiveness to its IPO for potential investors eyeing a promising opportunity in the agro-food sector.
Source:
https://www.sharemarket.org.in/mvk-agro-food-ipo-opens-on-29-feb-check-details/
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