Godrej Agrovet IPO is a book built issue of Rs 1,157.31 crores.
Godrej Agrovet IPO bidding started from October 4, 2017 and ended on October 6, 2017. The allotment for Godrej Agrovet IPO was finalized on Thursday, October 12, 2017. The shares got listed on BSE, NSE on October 16, 2017.
Godrej Agrovet IPO price band is set at ₹450 to ₹460 per share. The minimum lot size for an application is 32 Shares. The minimum amount of investment required by retail investors is ₹14,720.
Refer to Godrej Agrovet IPO RHP for detailed information.
| IPO Date | October 4, 2017 to October 6, 2017 |
| Listing Date | October 16, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹450 to ₹460 per share |
| Lot Size | 32 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹1,157.31 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Godrej Agrovet IPO offers 18,027,464 shares. 5,082,882 (28.20%) to QIB, 3,750,042 (20.80%) to NII, 8,750,096 (48.54%) to RII, 444,444 (2.47%) to employees. 273,440 RIIs will receive minimum 32 shares and (sNII) and (bNII) will receive minimum 448 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 5,082,882 (28.20%) | NA |
| NII (HNI) Shares Offered | 3,750,042 (20.80%) | |
| Retail Shares Offered | 8,750,096 (48.54%) | 273,440 |
| Employee Shares Offered | 444,444 (2.47%) | NA |
| Total Shares Offered | 18,027,464 (100%) |
Godrej Agrovet IPO opens on October 4, 2017, and closes on October 6, 2017.
| IPO Open Date | Wednesday, October 4, 2017 |
| IPO Close Date | Friday, October 6, 2017 |
| Basis of Allotment | Thursday, October 12, 2017 |
| Initiation of Refunds | Friday, October 13, 2017 |
| Credit of Shares to Demat | Friday, October 13, 2017 |
| Listing Date | Monday, October 16, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 6, 2017 |
Investors can bid for a minimum of 32 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 32 | ₹14,720 |
| Retail (Max) | 13 | 416 | ₹191,360 |
| Lot Size Calculator | |||
Incorporated in 1991, Godrej Agrovet is India based agri-business Company offering products including Animal Feed, Crop Protection, Oil Palm, Dairy and Poultry and Processed Foods. Godrej Agrovet is leading animal feed company and the largest crude palm oil producer in India.
1. In animal feed business, the products comprises cattle feed, poultry feed (broiler and layer), aqua feed (fish and shrimp) and specialty feed. The products are produced at 35 facilities and sold through 4000 distributors across India.
2. In crop protection business, company produces plant growth regulators, organic manures, generic agrochemicals and specialized herbicides. The products are sold in India and 24 countries. Company has over 6000 distributors in this business segment.
3. In oil palm business, the products include crude palm oil, crude palm kernel oil and palm kernel cake. Company owns five palm oil mills.
4. The dairy business is operate through a subsidiary Creamline Dairy. Company sell milk and milk based products under the 'Jersey' in 5 south India states. Company own nine milk processing units. Company has 2,500 milk product distributors and 50 retail parlors.
5. Company also produce processed poultry and vegetarian products under the brands 'Real Good Chicken' and 'Yummiez'.
Company Strengths:
1. Pan-India presence with extensive supply and distribution network.
2. Diversified businesses with five business verticals.
3. Emphasis on R&D
4. Part of the Godrej group. Part of strong 'Godrej' brand.
5. Leading position in the segments it operate.
The Issue comprises a Fresh Issue and an Offer for Sale.
1. Offer for Sale: Each of the Selling Shareholders will be entitled to the respective portion of the proceeds of the Offer for Sale.
2. Fresh Issue: Company proposes to utilise the proceeds from the Fresh Issue towards:
a. repayment or prepayment of working capital facilities availed;
b. repayment of commercial papers issued by the Company; and
c. general corporate purposes.
[Dilip Davda] After long, a well diversified company from the house of Godrej is coming with a maiden offer. Company is playing major role in all its verticals and is poised for better prospects. Investment may be considered for short to long term. Read detail review.
The Godrej Agrovet IPO is subscribed 95.16 times on October 6, 2017 5:00:00 PM. The public issue subscribed 7.16 times in the retail category, 150.96 times in the QIB category, and 236.04 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 150.96 |
| NII | 236.04 |
| Retail | 7.16 |
| Employee | 0.81 |
| Total | 95.16 |
Issue size is between Rs 1145 to 1157 Cr. The public issue of Godrej Agrovet Limited comprises: