MVK Agro Food Product IPO: Check issue size, price band, GMP and other details
SME IPO of MVK Agro Food Product opened for subscription today and will close on March 4. The company aims to raise Rs about Rs 66 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
1) About MVK Agro Food Product
MVK Agro is an integrated sugar and other allied products manufacturing company operating from Nanded in Maharashtra. It operates a single location sugar unit having licensed crushing capacity of 2,500 TCD. In addition to sugar, the company also commercialises and sells its by-products and waste products, namely, Molasses, Bagasse and Pressmud.
2) Industry overview
Sugar production is estimated to be 340 lakh tonnes in 2022-23, as compared to the peak of 358 lakh tonnes produced in the previous in 2021-22, with the highest ever diversion towards ethanol estimated at 45 lakh tonnes, according to the Indian Sugar Mills Association (ISMA).
3) MVK Agro Food Product IPO issue size
The IPO is entirely a fresh quity issue of 54.9 lakh shares and through the issue, the company aims to raise Rs 65.8 crore.
4) MVK Agro Food Product IPO price band
The company is offering its shares at Rs 120 apiece, and investors can bid for 1,200 shares in 1 lot.
5) MVK Agro Food Product IPO financial performance
For the period ended September 2023, the company clocked revenues of Rs 60.12 crore and net profit of Rs 4.3 crore.
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