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M.V.K. Agro Food IPO
M.V.K. Agro Food Product Ltd
₹1,44,000 /1200 sharesMinimum investment
IPO details
Minimum investment
₹1,44,000
Price range
₹120 - ₹120
Lot size
1,200
Issue size
65.88 Cr
Face value
10
IPO document
Subscription rate
Data will be available soon
Schedule
29 Feb 2024
IPO open date
4 Mar 2024
IPO close date
5 Mar 2024
Allotment date
5 Mar 2024
Funds unblock or debit
7 Mar 2024
Tentative listing date
About
Founded in
2018
MD/CEO
Mr. Marotrao Vyankatrao Kawale
Parent organisation
M.V.K. Agro Food Product Ltd
M.V.K. Agro Food Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company markets and sells its sugar through relationships with brokers. These brokers, in turn, distribute the products to various industrial sectors, including FMCG manufacturers such as PepsiCo Holdings India Private Limited, Parle Biscuits Private Limited, Britannia Industries Limited, etc.
The company has integrated operations, under which, residual materials and by-products from one production process are utilized for power generation and commercially supplied to third parties for sustainable product manufacturing.
The company has a single-location sugar unit having a licensed crushing capacity of 2,500 TCD. Its manufacturing facility is also equipped to segregate its by-products and waste products, namely, Molasses, Bagasse and Pressmud and the generation of power for captive consumption.
As per the company, it has approximately 177 villages allotted to it under the cane area allotment order by the Sugarcane Commissioner. These are located in the vicinity of its factory unit.
The company has installed a power plant with electricity generation capacity of 3 MW from Bagasse. As per the information contained in RHP, the company’s entire electricity requirement during the crushing season is met out of the electricity generated by it in-house by use of Bagasse.
The company has limited experience in manufacturing Ethanol, Bio-CNG, and Fertilizer, restricting exposure beyond the existing product portfolio. This limitation may pose challenges in assessing past performance and prospects in these areas.
The company's products have limited inadequate brand presence and awareness, with a geographical reach confined to the State of Maharashtra.
The company's lenders have a charge over both movable and immovable properties, including the site designated for the new manufacturing unit, in connection with the financing obtained by the company.
The company has availed certain unsecured loans which may be recalled at any time.
The company has outstanding litigations involving its directors, promoters, subsidiary, and group companies. Adverse determinations in these cases may have implications for the company's business and financial condition.
The company has experienced negative cash flow in the past and may continue to do so in the future, which could have a material adverse effect on its business, prospects, financial condition, cash flows and results of operations. Net cash flow from operating activities was Rs. (19.27) cr, Rs. (13.96) cr in FY 2021 and FY 2023 respectively.
Application details
For M.V.K. Agro Food IPO, eligible investors can apply as Regular.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Regular | ₹120 - ₹120 | ₹2 - ₹5 Lakhs | 1200 |
| High Networth Individual | ₹120 - ₹120 | ₹2 - ₹5 Lakhs | 1200 |