MVK Agro Food IPO GMP, Details, Date, Price, 2024

MVK Agro Food IPO will be open for subscription on February 29, 2024 check gmp, financial, date and more

MVK Agro Food IPO 

 

MVK Agro Food IPO Dates 29 February – 4 March 2024
MVK Agro Food Issue Price INR 120 per share
Fresh issue 54,90,000 shares (INR 65.88 crore)
Offer For Sale Nil
Total IPO size 54,90,000 shares (INR 65.88 crore)
Minimum bid (lot size) 1,200 shares (INR 144,000)
Face Value  INR 10 per share
Retail Shares Offered 50%
QIB Shares Offered 50%
Listing On NSE , SME

 

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MVK Agro Food IPO – Date Schedule

 

IPO Opening Date 29 February 2024
IPO Closing Date 4 March February 2024
Finalization of Basis of Allotment 5 March 2024
Refunds Initiation 6 March 2024
Transfer of shares to demat accounts 6 March 2024
Listing Date of IPO 7 March 2024

 

MVK Agro Food IPO – About Company 

 

MVK Agro Food, positioned in Nanded District, Maharashtra, stands out as a key player in the integrated sugar and allied products manufacturing sector. Operating a single-location sugar unit with a licensed crushing capacity of 2,500 TCD (Tones Cane per day), the company holds commendable production capabilities. Apart from sugar, MVK Agro Food markets valuable by-products and waste products such as Molasses (120 Tones per day), Bagasse (750 Tones per day), and Pressmud (90 Tones per day). With a workforce of 161 employees and a commitment to not engage in contract labor, the company directly sources all required sugarcane from farmers.

In the fiscal year 2023, the company attained noteworthy revenue figures. Sugar sales, facilitated domestically through brokers, reached INR 27.5 crore, while export-oriented transactions through commodity traders amounted to INR 26.6 crore. Revenue streams were significantly bolstered by the contribution of by-products including Bagasse, Cane Seed & others, Molasses, and Pressmud.

Looking ahead, MVK Agro Food outlines plans for substantial investments. A proposed investment of INR 34.9 crore is earmarked for establishing a unit dedicated to ethanol and bio-CNG production, with an additional INR 17.5 crore slated for fertilizer production.

 

Industry Overview 

 

About 81% of global sugar cane production is converted into cane sugar, while the rest is converted into biofuel (Organisation for Economic Cooperation and Development [OECD] & Food and Agriculture Organization of the United Nations [FAO], 2021). The market value of the sugar cane sector exceeded USD 56 billion in 2022 (OECD & FAO, 2021).

India ranks first globally in sugar production. It produced about 37 million metric tons of sugar in 2022. It provides employment to about 500 thousand workers in the sugar mills. Sugar production is estimated to be 340 lakh tonnes in SS 2022-23,

as compared to the peak of 358 lakh tonnes produced in the previous SS 2021-22; with the highest ever diversion towards ethanol estimated at 45 lakh tonnes (higher by 41% y-o-y), according to the Indian Sugar Mills Association (ISMA). This increasing diversion towards high realisation ethanol is likely to support 8-12% revenue growth for sugar mills this fiscal. By the year 2025, the government is targeting to divert 60 lakhs tonnes of excess sugar towards ethanol annually. 

 

 

MVK Agro Food IPO Financial Performance

 

  FY 2022 FY 2023 H1 FY 2024
Revenue 130.67 93.28 60.13
Expenses 128.46 89.02 54.77
Net income 3.20 3.77 4.30

Figures in INR Crores

 

MVK Agro Food IPO – Valuations & Margins

 

FY 2021 FY 2022 FY 2023
EPS 1.67 3.20 3.77
PE ratio 15.90
RONW (%) 35.48 39.96 32.85
NAV 35.35
ROCE (%) 5.98 14.49 13.44
EBITDA (%) 20.66 9.06 17.68
Debt/Equity 11.71 6.25 6.84

 

 

Competitive Strengths

 

  • Wide range of products;
  • Integrated operations and economies of scale;
  • Fully equipped manufacturing facility;
  • Strategic location of our manufacturing unit;
  • Cordial and strong relationships with sugarcane farmers;
  • Captive Power plant;
  • Existing client relationships;
  • Quality Assurance and Quality Control of our products;
  • Well experienced management team with proven project management and implementation skills;

 

Object Of The Issue

 

  • Setting up a greenfield unit in Nanded, Maharashtra for (i) manufacturing Ethanol and (ii) generation and bottling of Bio-CNG and Fertilizer;
  • General Corporate Purposes.

 

MVK Agro Food IPO GMP Today

 

Date Day-wise IPO GMP Kostak Subject to Sauda
Coming soon

 

MVK Agro Food IPO – Allotment Status

 

MVK Agro Food IPO allotment status will be available on Mas Services website. Click on this link to get allotment status.

 

MVK Agro Food IPO – Lots Size & Price

 

Application Lots Shares Amount ( Cut-Off)
Retail (Min) 1 1200 1,44,000
Retail (Max) 1 1200 1,44,000
HNI (Min) 2 2400 2,88,000

 

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