TBI Corn Ltd

TBI Corn IPO

TBI Corn Ltd

₹1,08,000 /1200 sharesMinimum investment

IPO details

Minimum investment
₹1,08,000
Price range
₹90 - ₹94
Lot size
1,200
Issue size
44.94 Cr
Face value
10
IPO document

Subscription rate

Data will be available soon

Schedule

31 May 2024
IPO open date
4 Jun 2024
IPO close date
5 Jun 2024
Allotment date
5 Jun 2024
Funds unblock or debit
7 Jun 2024
Tentative listing date

About

TBI Corn Limited operates in the corn milling industry, catering to the needs of corn starch and cattle feed industries. It is located in the Sangli district of Maharashtra. The company has multiple units in MIDC Miraj. It produces high-quality corn / maize grits and related products. Its range of products include cleaned and fat-free corn grits/meal, corn flakes, stone-free broken maize and corn flour, and turmeric finger, all manufactured without chemical additives or preservatives and free of genetically modified organisms (GMO).;
Founded in
2022
MD/CEO
Ms. Yogesh Laxman Rajhans
Parent organisation
TBI Corn Ltd

TBI Corn Financials

Revenue
Total Assets
Profit
All values are in ₹ Cr
1152023

Strengths & Risks

Strengths
Risks
The company holds ISO 9001:2015 and ISO 22000:2018 certifications.
The company also holds certificates from MSME and APEDA, and is Indian Organic and USDA Organic certified.
The company has expanded its presence in international markets, including UAE, Bahrain, Qatar, Kuwait, Saudi Arabia, Oman, Yemen, Jordan, Israel, Liberia, Sri Lanka, Malaysia, Brunei, Vietnam and South Korea.
The company’s revenue from operations has been growing steadily over the years. It grew from Rs 66.96 crore in FY21 to Rs 100.29 crore in FY22 to Rs 139.30 crore in FY23.
The company’s top 10 customers accounted for revenues worth Rs 23.24 crore and Rs 55.26 crore, which is almost 33.19% and 39.75% of the total revenue generated as of 30 September, 2023 and 31 March, 2023 respectively. Any slowdown in orders from these customers can adversely affect the business.
The company’s top 10 suppliers accounted for Rs 35.40 crore and Rs 68.09 crore worth of purchases, which is almost 49.17% and 47.28% of the total purchase as of 30 September 2023 and 31 March, 2023 respectively. Any loss of supplies from these key suppliers could hurt the business prospects of the company.
The company’s domestic sales are dependent on the top 5 states – Maharashtra, Gujarat, Tamil Nadu, Karnataka, and Madhya Pradesh. These five states account for almost 79.18% and 71.52% of the revenue of the total domestic sales generated as on 30 September 2023 and 31 March 2023, respectively. Any disruption in business from these states can adversely impact the company’s business.
There are certain legal proceedings against the company, its promoter, directors, and group company. Any adverse decision in these proceedings could adversely impact the company’s business.
The company is dependent on continuing relationships with its clients, with whom it has not entered into long-term arrangements.
The company has unsecured loans from directors and relatives of directors, which are repayable on demand. Any demand from lenders for repayment of these unsecured loans may adversely affect the company's liquidity and business operations.

Application details

For TBI Corn IPO, eligible investors can apply as Regular.

Apply asPrice bandApply rangeLot size
Regular₹90 - ₹94₹2 - ₹5 Lakhs1200
High Networth Individual₹90 - ₹94₹2 - ₹5 Lakhs1200

Frequently Asked Questions