TBI Corn IPO opens today: Check issue size, price band, GMP and other details
SME IPO of TBI Corn opened for subscription earlier today and will close on June 3. The company aims to raise about Rs 45 crore through the SME IPO and list the shares on the NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
1) About TBI Corn
TBI Corn, a prominent player in the corn milling industry specialises in the production of good quality corn, flour and other related products.
2) Industry overview
The global maize production increased from 1.14 billion tons to 1.16 billion tons in 2020. Along with this, the area under its production also increased from 196 million hectares in 2019 to 201 million hectares in 2020. With the increase in production, trade is also encouraged around the world.
3) TBI Corn IPO size
The IPO is entirely a fresh equity issue of 47.8 lakh shares and through the issue the company aims to raise nearly Rs 45 crore.
4) TBI Corn IPO price band
The company is offering its shares at Rs 90-94 apiece, and investors can bid for 1200 shares in 1 lot.
5) TBI Corn IPO financial performance
For the period ended December 2023, the company clocked revenues of Rs 101 crore and net profit of Rs 7.66 crore.
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6) Objects of the offer
The net proceeds from the public offer will be used for funding incremental working capital requirements, expansion of existing units, general corporate purposes and other public issue-related
