Freshara Agro Exports Limited, formerly known as Freshara Picklz Exports, procures, processes and exports preserved Gherkins and other pickled goods from India to various countries worldwide.
Under a contract farming program, the company exports raw produce from local farmers in Tamil Nadu, Karnataka, and some parts of Andhra Pradesh. 70% of the produce is “not ready-to-eat” and is supplied directly to factories for further processing and conversion into finished products. The remaining 30% is supplied to food brokers and traders in the international market. The company’s products include gherkins, baby corn, jalapenos, and other pickled vegetables.
As of March 31, 2024, the company processes and exports pickled vegetables in 3 different packaging categories. The details of the 3 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 is accredited by a number of 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, Brand Reputation through Compliance Global Standard (BRCGS).
As of September 30, 2024, the company had a total of 135 employees.
Freshara Agro Exports IPO – Details
| IPO Opening Date | 17 October 2024 |
| IPO Closing Date | 21 October 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 64,99,200 Shares Worth ₹75.39 Crore Fresh Issue: 64,99,200 Shares Worth ₹75.39 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹110 – ₹116 |
| Market Lot | 1200 Shares |
| Min Order | 1200 Shares |
| Listing At | NSE SME |
| Register | Purva Sharegistry India Pvt Ltd |
| QIB Shares Offered | 50% |
| Retail Shares Offered | 35% |
| NII (HNI) Shares Offered | 15% |
Freshara Agro Exports IPO – Date Schedule
| IPO Open Date | 17 October 2024 |
| IPO Close Date | 21 October 2024 |
| Basis of Allotment | 22 October 2024 |
| Initiation of Refund | 23 October 2024 |
| Credit of Shares to Demat Account | 23 October 2024 |
| IPO Listing Date | 24 October 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 21, 2024 |
Freshara Agro Exports IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,39,200 |
| Retail (Max) | 1 | 1,200 | ₹1,39,200 |
| HNI (Min) | 2 | 2,400 | ₹2,78,400 |
Competitive Strengths
- Good relationship with the contract farmers and other vendors ensuring availability of raw materials during off-season period;
- Support of efficient supply-chain enable us to have long-standing and deep customer relationships;
- Quality assurance and quality control of the company’s products and as a result company received various awards and accreditations;
- Advanced in-house processing facilities with focus on cost competitiveness;
- A comprehensive product portfolio enables company to serve their customers spread across the globe;
- Demonstrated history of financial performance and a scalable business model;
- Experienced promoter and management team;
Company Promoters
- Mr. Junaid Ahmed
- Mr. Iqbalahmed Khudrathullah Mohammed
- Mrs. Asma Syed
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 118.40 | 116.79 | 0.97 | 34.79 |
| 31 March 2023 | 127.00 | 113.17 | 9.08 | 41.73 |
| 31 March 2024 | 198.01 | 166.92 | 21.82 | 176.18 |
| 30 September 2024 | 107.46 | 92.19 | 11.37 | 106.25 |
Key Performance Indicator
| KPI | Values |
|---|---|
| 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 |
Object Of The Issue
- To meet the Capital Expenditure;
- Funding the working capital requirements of the company;
- To meet the General Corporate Purposes; and
- To meet the Issue Expenses.
Freshara Agro Exports IPO Promoter Holding
| Pre Issue Share Holding | 86.50% |
| Post Issue Share Holding | – |
Freshara Agro Exports IPO Prospectus
Company Contact Information
| 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 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 |
Freshara Agro Exports IPO Lead Manager(s)
| 1. GYR Capital Advisors Private Limited |
Freshara Agro Exports IPO FAQs
| What is Freshara Agro Exports IPO? Freshara Agro Exports IPO is an SME IPO. The issue is priced at ₹110 and ₹116 per equity share. The IPO is to be listed on NSE SME. |
| When Freshara Agro Exports IPO will open? The IPO is to open on 17 October 2024 for QIB, NII, and Retail Investors. |
| What is Freshara Agro Exports IPO Investors Portion? The investors’ portion for QIB- 50%, Retail – 35%, NII – 15%. |
| How to Apply the Freshara Agro Exports IPO? You can apply Freshara Agro Exports IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Freshara Agro Exports IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Freshara Agro Exports IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Freshara Agro Exports IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Freshara Agro Exports IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Freshara Agro Exports IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Freshara Agro Exports IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Freshara Agro Exports IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Freshara Agro Exports IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Freshara Agro Exports IPO Size? Freshara Agro Exports IPO size is ₹75.39 Crore. |
| What is Freshara Agro Exports IPO Price Band? Freshara Agro Exports IPO Price Band is ₹110 – ₹116. |
| What is Freshara Agro Exports IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 1200 Shares with ₹1,39,200 amount while the maximum bid is 1200 Shares with ₹1,39,200. |
| What is the Freshara Agro Exports IPO Allotment Date? Freshara Agro Exports IPO allotment date is 22 October 2024. |
| What is the Freshara Agro Exports IPO Listing Date? Freshara Agro Exports IPO listing date is 24 October 2024. The IPO is to be listed on NSE SME. |
