M.V.K. Agro Food is an integrated sugar and other allied products manufacturing company operating from Nanded District in the State of Maharashtra. They operate a single-location sugar unit having a licensed crushing capacity of 2,500 TCD. In addition to sugar, they also commercialize and sell their by-products and waste products, namely, Molasses, Bagasse, and Pressmud. They are also engaged in the generation of Potheyr for captive consumption.
Their business can hence be broken up into two segments, namely Sugar and its by-products/waste products. In the year 2020, they commenced operations of manufacturing of Sugar. In the year 2020, the Company implemented backward integration and began commercial operations of the by-products and waste products of Sugar along with Co-Generation capabilities. The Company has in the Fiscal 2023, completed three crushing seasons, i.e., 2020-21, 2021-22, and 2022-23. Over the years, they have expanded the production/manufacturing capacities of all their products.
The Company proposes to further diversify its product portfolio by setting up a greenfield unit for manufacturing Ethanol and Bio-CNG and fertilizers. Ethanol is produced after fermentation and distillation of Molasses and can be further purified into Fuel Ethanol, by removing the water content. They intend to create an additional revenue stream using backward integration of their waste material, i.e., Molasses for manufacturing Ethanol and marketing and selling the same for industrial usage. Further, in the said greenfield unit, they propose to set up a separate bio CNG bottling and fertilizer plant for biogas generation and bottling. The by-product generated from the manufacturing of biogas is mainly used as a fertilizer, therefore their Company proposes to market and sell such by-products as a fertilizer to third parties. They propose to generate bio-gas by processing Bagasse and Pressmud further marketing and selling the same for industrial usage. Accordingly, the Company proposes to utilize an amount of ₹ 3,488.17 lakhs and ₹ 1,750.00 lakhs from the Net Proceeds of this Issue towards setting up the aforementioned manufacturing unit for Ethanol and Bio-CNG and Fertilizer, respectively, and expanding their product portfolio.
Objects of the Issue:
- Setting up a greenfield unit in Nanded, Maharashtra for (i) manufacturing Ethanol and (ii) generation and bottling of Bio-CNG and Fertilizer.
- General corporate purposes.
M.V.K. Agro Food IPO Review
- May Apply
M.V.K. Agro Food IPO Date & Price Band Details
| IPO Open: | February 29, 2024 |
| IPO Close: | March 4, 2024 |
| IPO Size: | Approx ₹65.88 Crores, 5,490,000 Equity Shares |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹120 Per Equity Share |
| IPO Listing on: | NSE SME |
| Retail Quota: | 50% of the net offer |
| NII Quota: | 50% of the net offer |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
M.V.K. Agro Food IPO Market Lot
The M.V.K. Agro Food IPO minimum market lot is 1200 shares with a ₹144,000 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 1200 | ₹144,000 |
| Retail Maximum | 1 | 1200 | ₹144,000 |
| S-HNI Minimum | 2 | 2400 | ₹288,000 |
M.V.K. Agro Food IPO Dates
The M.V.K. Agro Food IPO date is February 29 and the IPO close date is March 4. The IPO allotment date is March 5 and the IPO might list on March 7.
| IPO Open Date: | February 29, 2024 |
| IPO Close Date: | March 4, 2024 |
| Basis of Allotment: | March 5, 2024 |
| Refunds: | March 6, 2024 |
| Credit to Demat Account: | March 6, 2024 |
| IPO Listing Date: | March 7, 2024 |
You can check IPO subscription status and IPO allotment status on their respective pages.
M.V.K. Agro Food IPO Form
How to apply M.V.K. Agro Food IPO? You can apply M.V.K. Agro Food IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the M.V.K. Agro Food IPO in the Invest section. The other option you can apply M.V.K. Agro Food IPO via IPO forms download via the NSE website. Check out the M.V.K. Agro Food forms – click NSE IPO Forms download, fill and submit in your bank or with your broker.
M.V.K. Agro Food Company Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2021 | ₹25.83 | ₹23.98 | ₹1.39 |
| 2022 | ₹132.64 | ₹128.46 | ₹3.21 |
| 2023 | ₹93.94 | ₹89.02 | ₹3.77 |
| 2023 6M | ₹60.44 | ₹54.77 | ₹4.30 |
M.V.K. Agro Food IPO Valuation – FY2023
Check M.V.K. Agro Food IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹3.77 per Equity Share |
| Price/Earning P/E Ratio: | 31.83* |
| Return on Net Worth (RoNW): | 32.85% |
| Net Asset Value (NAV): | ₹35.35 per Equity Share |
Peer Group
- Ugar Sugar Works Ltd.
- Dwarikesh Sugar Industries Ltd.
- Balrampur Chini Mills Ltd.
- Dhampur Sugar Mill Ltd.
Company Promoters
- Marotrao Vyankatrao Kawale
- Sagarbai Marotrao Kawale
- Ganeshrao Vyankatrao Kawale
- Kishanrao Vyankatarao Kawale
- Sandip Marotrao Kawale
M.V.K. Agro Food IPO Registrar
Mas Services Limited
Phone: (011) 2610 4142
Email: [email protected]
Website: https://www.masserv.com/opt.asp
M.V.K. Agro Food IPO Allotment Status
Check M.V.K. Agro Food IPO allotment status on Mas Services website URL. Click Here
M.V.K. Agro Food IPO Lead Managers aka Merchant Bankers
- Horizon Management Private Limited
Company Address
M.V.K. Agro Food Product Ltd
GUT No. 44 and 46
Kusumnagar, At Post
Waghalwada, Umari, Nanded – 431 807
Phone: +91 862 309 4480
Email: [email protected]
Website: https://mvkagrofood.com/
