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Freshara Agro Exports IPO

  • Status: Closed
  • RHP:
  • ₹ 132,000 / 1200 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    24 Oct 2024

  • Listing Price

    ₹ 135.00

  • Listing Change

    -

  • Last Traded Price

    ₹ 169.00

IPO Details

  • Open Date

    17 Oct 2024

  • Close Date

    21 Oct 2024

  • IPO Price Range

    ₹ 110 to ₹ 116

  • IPO Size

    ₹ 75.39 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    24 Oct 2024

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IPO Timeline

Freshara Agro Exports IPO Subscription Status

Last Updated: 21 October 2024 6:38 PM by 5Paisa

Freshara Agro Exports IPO is set to open on 17 October 2024 and will close on 21 October 2024. The company founded in 2015 specializes in procuring, processing and exporting preserved gherkins and other pickled products from India to international markets.

The IPO includes a fresh issue of 64.99 lakh shares aggregating ₹75.39 Cr and does not include OFS. The price range is set between ₹110 - ₹116 per share and the lot size is 1200 shares. 

The allotment is scheduled to be finalized on 22 October 2024. It will go public on NSE SME, with a tentative listing date of 24 October 2024.

GYR Capital Advisors Private Limited is the book running lead manager, while Purva Sharegistry India Pvt Ltd is the registrar.
 

Freshara Agro Exports IPO Size

Types Size
Total IPO Size ₹75.39 Cr
Offer For Sale -
Fresh Issue ₹75.39 Cr

 

Freshara Agro Exports IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 1200 ₹139,200
Retail (Max) 1 1200 ₹139,200
HNI (Min) 2 2,400 ₹278,400

 

Freshara Agro Exports IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
QIB 129.22 11,76,000 15,19,64,400 1,762.79
NII (HNI) 510.61 8,83,200 45,09,69,600 5,231.25
Retail 180.80 20,59,200 37,23,10,800 4,318.81
Total 236.80 41,18,400 97,52,44,800 11,312.84

 

Freshara Agro Exports IPO Anchor Allocation

Anchor Bid Date 16 October, 2024
Shares Offered 1,761,600
Anchor portion Size (In ₹ Cr.) 20.43
Anchor lock-in period end date for 50% shares (30 Days) 21 November, 2024
Anchor lock-in period end date for remaining shares (90 Days) 20 January, 2025

 

1. To meet the Capital Expenditure
2. Funding working capital needs
3. General corporate purposes
4. To meet the Issue Expenses
 

Freshara Agro Exports previously known as Freshara Picklz Exports was founded in 2015. The company sources, processes and exports preserved gherkins and other pickled vegetables from India to different countries.

Through a contract farming program, Freshara works with local farmers in Tamil Nadu, Karnataka and parts of Andhra Pradesh to export raw produce. About 70% of the produce is sent to factories for further processing while the other 30% is sold to international food brokers and traders. Their products include gherkins, baby corn, jalapenos and other pickled vegetables.

As of 31 March 2024, Freshara offers three types of packaging: 

1. Industrial packaging: Food grade drums and pails.
2. Food packaging: Plastic buckets and tin cans.
3. Retail packaging: Glass jars and tin cans.

The company holds certifications from several organizations including FSSAI (India), FDA (USA), Kosher (Star-K), APEDA, IFS and BRCGS.
 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY24 FY23 FY22
Revenue 198.02 127 118.41
EBITDA 35.62 17.49  4.95
PAT 21.82 9.08 0.97
Particulars (in Rs. Crores) FY24 FY23 FY22
Total Assets 288.53 84.91 58.88
Share Capital 49.62 18.55  9.32
Total Borrowings 176.18 41.74 34.79
Particulars (in Rs. Crores) FY24 FY23 FY22
Net Cash Generated From / (used in) operating activities -37.92 - 0.01 -4.61
Net Cash Generated From / (used in) investing activities -11.08 -3.10 -3.99
Net Cash Generated From / (used in) financing activities 49.15 5.05 8.32
Net Increase (Decrease) In Cash And Cash Equivalents 0.15 1.94 -0.27

Strengths

1. Good relationships with contract farmers and suppliers ensure a steady supply of raw materials, even during the off season enhancing the company's operational stability.

2. The company has established a robust quality assurance system that has earned various awards and accreditations reinforcing its reputation for high quality products.

3. An experienced promoter and management team contribute to strategic decision making and operational efficiency positioning the company for long term success.
 

Risks

1. The company’s reliance on contract farmers for raw materials exposes it to risks related to agricultural production such as weather variability and crop failures.

2. Increasing competition in the food processing industry could impact market share and pricing power, potentially affecting profitability.

3. Changes in food safety regulations and export policies could pose compliance challenges and impact operational costs affecting overall business performance.
 

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FAQs

Freshara Agro Exports IPO opens from 17 October to 21 October 2024.

The size of the Freshara Agro Exports IPO is ₹75.39 Cr.

The price of the Freshara Agro Exports IPO is fixed at ₹110 - ₹116 per share. 

To apply for Freshara Agro Exports IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for Freshara Agro Exports IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of Freshara Agro Exports IPO is 1200 shares and the investment required is ₹1,32,000.
 

The share allotment date of Freshara Agro Exports IPO is 22 October 2024.

The Freshara Agro Exports IPO will be listed on 24 October 2024.

GYR Capital Advisors Private Limited is the book running lead manager for Freshara Agro Exports IPO.
 

Freshara Agro Exports plans to utilize the raised capital from the IPO for:

1. To meet the Capital Expenditure
2. Funding working capital needs
3. General corporate purposes
4. To meet the Issue Expenses