TGIF Agribusiness IPO: Check GMP, subscription status on day 1, issue size, key details to know
₹93 per share. The IPO lot size for TGIF Agribusiness is 1,200 shares. The company is essentially a horticultural business that engages in open farming of specific fruits and vegetables, as stated in the prospectus.
The farmland owned by the corporation spans more than 110 acres and is located close to three villages: Ajari, Kasindra, and Kojra. These villages are all part of the Pindwara tehsil in the district of Sirohi, Rajasthan. All of the farm lands were leased to the firm by Niraj Chhaganraj Gemawat, Vipin Moharir, Rachna Gemawat, and Niraj Chhaganraj Gemawat HUF.
Pomegranate farming is the company's primary source of income, accounting for almost 95% of total revenue generated from activities. The enterprise farms and cultivates dragon fruits and Sagwan trees in addition to pomegranate farming. As stated in the prospectus, the company's (P/E of 13.57) listed peers are Raghuvansh Agrofarms Ltd (with a P/E of 110.74), and Bangalore Fort Farms Ltd (with a P/E of 59.92).
Between March 31, 2022, and March 31, 2023, TGIF Agribusiness Limited's profit after tax (PAT) climbed by 12.63% and its revenue increased by 12.14%. Also Read: TBO Tek IPO: Retail portion fully subscribed within hours of opening. Check GMP, subscription status, key dates, more.
TGIF Agribusiness IPO subscription status is 74%, on day 1, so far. The retail portion was subscribed 1.35 times, and NII portion was booked 14%. The company has received bids for 4,86,000 shares against 6,52,800 shares on offer, at 14:27 IST, according to data on chittorgarh.com.
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