Godrej Agrovet Limited was incorporated in 1991. It is an India based agri-business company. It manufactures a big range of agri-based products for Indian consumers. Godrej Agrovet is coming up with an IPO. Godrej Agrovet Limited IPO review will find details of the IPO from DRHP.
About the issue – Godrej Agrovet Limited IPO review projects the issue details obtained from DRHP.
- Issue opens on – 4 October 2017
- Issue closes on – 6 October 2017
- Issue type – Book built issue IPO
- Issue price – Rs 450 to Rs 460 per equity share
- Face value – Rs 10 per equity share
- Lot size – A minimum of 32 shares and in multiples thereof
- Issue size – 1. Fresh issue of shares aggregating up to Rs 291.51 crores. 2. Offer for sale of Rs 300 crores by Godrej Agrovet Limited and 12,300,000 nos. of equity shares by V-Sciences Investments Pte Ltd
- Listing Exchange – NSE, BSE
- Issue objectives – The net proceeds from the issue will be used for – a) repayment of commercial papers issued by the company, b)prepayment and/ or repayment of working capital acquired, c) general corporate purposes and d) Offer for sale – each of the shareholders selling will be entitled a portion of proceeds from offer for sale.
About the company –
Godrej Agrovet Limited manufactures a big array of agricultural products. Products include animal feed, Palm oil, products helping in higher crop yield, dairy and poultry products, processed food. Godrej Agrovet Limited (GAL) is the highest crude palm oil producer in India. It is also a big name in Indian animal feed product market. Godrej Agrovet Limited has five palm oil mills. GAL also has nine milk processing units. Animal feed products are produced in 35 facilities and distributed through 4000 distributors across India. Agrochemical and specialized herbicides produced by the company are sold through 6000 distributors in 24 countries besides India. GAL sells dairy products under the brand name ‘Jersey’. Processed vegetarian and poultry products are marketed under brand names ‘Real Good Chicken’ and ‘Yummiez’.
Company Financials –
Godrej Agrovet Limited IPO review finds that the company has been making consistent profit in the last few fiscal. Consistent growth in turnover and net profit growth indicates that the company doing good business.
Conclusion – The current grey market premium of this issue is quoting at 100-110 per share. Keeping in view of the diversified business verticals of the company and its consistent stress on R&D, Godrej Agrovet Limited IPO review finds that investment in this new issue may give good returns in mid and long-term investment. Investors are advised to check the disclaimer before applying.
Partha, an engineer by education, is theoratically actively following the stock and commodity markets since 1990. He is an active trader since 2003. He has received formal education in future and options and quantum analysis. He is presently working on research oriented projects using Python and data analytics.