TGIF Agribusiness IPO has opened for subscription today (Wednesday, May 8), and will close on Friday, May 10. The issue’s price band has been fixed at ₹93 per share. The IPO lot size for TGIF Agribusiness is 1,200 shares.
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The company is essentially a horticultural business that engages in open farming of specific fruits and vegetables, as stated in the prospectus. The farmland owned by the corporation spans more than 110 acres and is located close to three villages: Ajari, Kasindra, and Kojra. These villages are all part of the Pindwara tehsil in the district of Sirohi, Rajasthan.
All of the farm lands were leased to the firm by Niraj Chhaganraj Gemawat, Vipin Moharir, Rachna Gemawat, and Niraj Chhaganraj Gemawat HUF.
Pomegranate farming is the company’s primary source of income, accounting for almost 95% of total revenue generated from activities. The enterprise farms and cultivates dragon fruits and Sagwan trees in addition to pomegranate farming.
As stated in the prospectus, the company’s (P/E of 13.57) listed peers are Raghuvansh Agrofarms Ltd (with a P/E of 110.74), and Bangalore Fort Farms Ltd (with a P/E of 59.92).
Between March 31, 2022, and March 31, 2023, TGIF Agribusiness Limited’s profit after tax (PAT) climbed by 12.63% and its revenue increased by 12.14%.
TGIF Agribusiness IPO subscription status
TGIF Agribusiness IPO subscription status is 74%, on day 1, so far.
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The retail portion was subscribed 1.35 times, and NII portion was booked 14%.
The company has received bids for 4,86,000 shares against 6,52,800 shares on offer, at 14:27 IST, according to data on chittorgarh.com.
TGIF Agribusiness IPO details
TGIF Agribusiness IPO, worth ₹6.39 crore, consists of a fresh issue of 6,87,600 equity shares with a face value of ₹10. There is no offer-for-sale component.
The company intends to use the issue’s proceeds for the following purposes: general corporate purposes, working capital requirements, and the purchase of irrigation systems and agricultural equipment.
The registrar for the TGIF Agribusiness IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Hem Securities Limited. Hem Finlease is the market maker for the TGIF Agribusiness IPO.
TGIF Agribusiness IPO GMP today
TGIF Agribusiness IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹93 with no premium or discount in the grey market according to investorgain.com.
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Analysts at investorgain.com predict that the current IPO GMP trend will continue until the listing day, based on the activity of the previous seven sessions of the grey market.
‘Grey market premium’ indicates investors‘ readiness to pay more than the issue price.
