In its Initial Public Offering (IPO), Proventus Agrocom Limited will release equity shares through a fixed price issue. The Proventus Agrocom Limited IPO is scheduled for May 24th – May 26th, 2023. In this IPO, the company plans to sell 902,000 shares of stock at a price of 771 rupees aggregating up to ₹69.54 Cr, with each share having a face value of Rs 10. Let’s find out more about this IPO coming up in May 2023.
About Proventus Agrocom Limited
Proventus Agrochem Limited is an established company in the health food industry, having launched in 2015. The business operates across the entire spectrum of dried fruits, nuts, seeds, and berries. The company also produces a wide range of healthy food options across the supply chain.
Proventus’s mission is to develop industry knowledge in nutritious food products. They aim to increase income by developing a “farm-to-homes” integrated business model that spans the entire value chain from product creation to consumer consumption.
In India, there is a lack of nutritious snack options, so the company is aiming to address that void by offering a variety of dried fruits, nuts, seeds, and berries.
The company’s wares are sold under the “ProV ” label. Prov Foods Private Limited and Proventus Retail Private Limited are two of the Group Proventus Agrochem Limited’s Material Subsidiaries.
Proventus Agrocom IPO Issue Details
| Issue Type | Fixed Price IPO Issue |
| Issue Opens | 24th May 2023 |
| Issue Closes | 26th May 2023 |
| Face Value | Rs 10 Per Share |
| Issue Price | Rs 771 Per Share |
| Issue Size | 902,000 Shares (Rs 69.54 crores) |
| Minimum Order Quantity | 160 Shares |
| Listing | NSE, SME |
Purpose of the Issue
The company plans to use the Net Proceeds to finance the following initiatives:
- General corporate purposes;
- Meeting the working capital needs of the Company and its major subsidiary, Prov Foods Private Limited;
- Meeting the working capital needs of the Company.
Proventus Agrocom Limited — Company Contact Details
- Registered & Corporate Office: Unit 515, 5th Floor, C Wing, 1 MTR Cabin, Atrium, Village Mulgaon, MV Road, Andheri (East), Near Acme Plaza, Mumbai – 400 069
- Telephone: +91 22 6211 0900
- Website: https://www.proventusagro.com/
Proventus Agrocom Limited IPO – Lead Managers of the Issue
Sundae Capital Advisors Pvt Ltd
- Office Address: 3rd Floor, C – 11, Community Centre Janak Puri, New Delhi – 110 058
- Telephone: +91 11 4914 9740
- Email: info@sundaecapital.com
Proventus Agrocom Limited IPO – Registrar of the Issue
Bigshare Services Pvt Ltd
- Telephone: +91-22-6263 8200
- Email: ipo@bigshareonline.com
- Website: https://www.bigshareonline.com/
Proventus Agrocom IPO Issue Prospectus
Click here to read the Final Prospectus of this IPO Issue.
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