Freshara Agro Exports Limited – IPO

The Freshara Agro Exports IPO is a book-built issue amounting to ₹75.39 crores, consisting entirely of a fresh issue of 64.99 lakh shares. The subscription period for the Freshara Agro Exports IPO is scheduled from October 17, 2024, to October 21, 2024. The allotment is expected to be finalized by Tuesday, October 22, 2024, with the tentative listing date on NSE SME set for Thursday, October 24, 2024.

The price band for the Freshara Agro Exports IPO has been set between ₹110 and ₹116 per share. The minimum application lot size has been set at 1,200 shares, requiring a minimum investment of ₹139,200 for retail investors. High Net Worth Investors (HNIs) must apply for a minimum of 2 lots (2,400 shares), totaling an investment of ₹278,400.

Freshara Agro Exports Limited – IPO Details

IPO Date October 17, 2024 to October 21, 2024
Listing Date October 24, 2024
Face Value ₹ 10 / Share
Price Band ₹ 110 to ₹ 116 / Share
Lot Size 1200 Shares
Total Issue Size ₹75.39 Cr
Fresh Issue ₹75.39 Cr
Offer for Sale
Employee Discount
Issue Type Book Built Issue IPO
Listing At NSE SME
Share holding pre issue 17,000,000
Share holding post issue 23,499,200
Market Maker portion 619,200 shares

Freshara Agro Exports Limited Timeline (Tentative Schedule)

Freshara Agro Exports Limited IPO opens on October 17, 2024, and closes on October 21, 2024.

IPO Open Date October 17, 2024
IPO Close Date October 21, 2024
Basis of Allotment October 22, 2024
Initiation of Refunds October 23, 2024
Credit of Shares to Demat October 23, 2024
Listing Date October 24, 2024
Cut-off time for UPI mandate confirmation October 21, 2024

Freshara Agro Exports Limited IPO Lot Size

A minimum of 1,200 shares, and multiples thereof, can be bid by investors. The table below illustrates the minimum and maximum investment for retail investors and High Net Worth Investors (HNIs) in terms of shares and the corresponding amounts.

Application Lots Shares Amount
Retail (Min) 1 1,200 Rs.139,200
Retail (Max) 1 1,200 Rs.139,200
S-HNI (Min) 2 2,400 Rs.278,400
S-HNI (Max)
B-HNI (Min)
HNI (Min)

Freshara Agro Exports Limited IPO Promoter Holding

Share Holding Pre Issue 86.50%
Share Holding Post Issue

Freshara Agro Exports Limited IPO Reservation

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered
Market Maker Shares Offered
Other Shares Offered
QIB Shares Offered Not more than 50.00% of the Net offer
NII (HNI) Shares Offered Not less than 15.00% of the Net Issue
bNII > ₹10L
sNII < ₹10L
Retail Shares Offered Not less than 35.00% of the Net Offer
Employee Shares Offered
Total Shares Offered

Freshara Agro Exports Limited IPO Anchor Investors Details

Bid Date 2024-10-16
Shares Offered
Anchor Portion Size (In Cr.) 20.43
Anchor lock-in period end date for 50% shares (30 Days) November 21, 2024
Anchor lock-in period end date for remaining shares (90 Days) January 20, 2025

About Freshara Agro Exports Limited

Freshara Agro Exports Limited, formerly known as Freshara Picklz Exports, was established in 2015 and is engaged in the procurement, processing, and export of preserved gherkins and other pickled goods from India to various countries worldwide.

Under a contract farming program, raw produce is exported from local farmers in Tamil Nadu, Karnataka, and parts of Andhra Pradesh. Approximately 70% of the produce is "not ready-to-eat" and is supplied to factories for further processing into finished products. The remaining 30% is distributed to food brokers and traders in the international market. The company’s product range includes gherkins, baby corn, jalapenos, and other pickled vegetables.

As of March 31, 2024, the company exports pickled vegetables in three different packaging categories: (1) Industrial packaging in food-grade drums and pails; (2) Food packaging in plastic buckets and tin cans; and (3) Retail packaging in glass jars and tin cans.

The company holds accreditations from various leading organizations, including the Food Safety and Standards Authority of India (FSSAI), the United States Food & Drug Administration (FDA), Star-K Kosher, Agricultural and Processed Food Products Export Development Authority (APEDA), International Featured Standards, and Brand Reputation through Compliance Global Standard (BRCGS).

Competitive strengths include:

  • Strong relationships with contract farmers and suppliers ensuring raw material availability during off-seasons
  • An efficient supply chain that supports long-term and intensive customer relationships
  • Robust quality control and assurance, earning numerous awards and accreditations
  • Advanced in-house processing facilities focused on cost competitiveness
  • A comprehensive product portfolio catering to customers globally
  • Proven financial performance and a scalable business model
  • An experienced promoter and management team

As of September 30, 2024, the company employed a total of 135 individuals.

Key Performance Indicator

KPI Values
ROE
ROCE 12.31%
Debt/Equity 2.77
RoNW 29.67%
P/BV 7.31
PAT Margin (%) 10.98
  Pre IPO Post IPO
EPS (Rs) 12.84 9.68
P/E (x) 9.04 11.98

Objects of the Issue (Freshara Agro Exports Limited IPO Objectives)

The funds being raised by the company are proposed to be utilized for the following purposes:

  • Meeting the capital expenditure requirements
  • Funding the company’s working capital needs
  • Covering general corporate purposes
  • Covering the issue expenses

Note: It is important to note that the financial data for March 31, 2024, has been calculated by combining the financial data from the period up to January 23, 2024, with the financial data from January 24, 2024, to March 31, 2024.

Freshara Agro Exports Limited Contact Details

Freshara Agro Exports Limited

Old No.3, New No.9,

Puram Prakasam Road, Balaji Nagar,

Royapettah, Chennai - 600014

Phone: +91 44 4357 0138

Email: cs@fresharaagroexports.com

Website: https://fresharaagroexports.com/

Freshara Agro Exports Limited IPO Registrar

Purva Sharegistry India Pvt Ltd

Phone: +91-022-23018261/ 23016761

Email: newissue@purvashare.com

Website: https://www.purvashare.com/investor-service/ipo-query

Frequently Asked Questions


What is Freshara Agro Exports Limited IPO?
The Freshara Agro Exports Limited IPO is classified as an Mainline IPO. The issue price is set between ₹110 and ₹116 per equity share. A minimum of 1200 shares is required per order. The IPO will be open from October 17, 2024, to October 21, 2024. The shares are proposed to be listed on NSE SME.

When does the Freshara Agro Exports Limited IPO open and close?
The Freshara Agro Exports Limited IPO will be opened on October 17, 2024, and closed on October 21, 2024.

What is the issue size of the Freshara Agro Exports Limited IPO?
The size of the Freshara Agro Exports Limited IPO is in total. A fresh issue of ₹75.39 Cr shares, aggregating up to , is included.

What is the price band of the Freshara Agro Exports Limited Limited IPO?
The price band for the IPO has been set between ₹110 - ₹116 per equity share.

What is the allotment date of the Freshara Agro Exports Limited IPO?
The share allotment date for the Freshara Agro Exports Limited IPO is set for October 22, 2024.

What is the Freshara Agro Exports Limited listing date?
The Freshara Agro Exports Limited IPO is scheduled to be listed on October 24, 2024.

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