City Crops Agro was incorporated on April 2, 2013, as Bhagya Agro-Care Private Limited. The company is engaged in the business of trading products such as seeds and agricultural produce—mainly rice, wheat, onions, potatoes, tomatoes, isabgol, and pulses.
| Bidding Dates |
|---|
| 26 Sep 2023 - 29 Sep 2023 |
| Subscription |
|---|
| 3.34x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,50,000 | 1 | 1 | 6000 | 6.0 M | ₹25 | 63.23 % | ₹150.0 M | RHP DOC |
City Crops Agro IPO SUBSCRIPTION STATUS
29 Sep '23City Crops Agro IPO overall subscription rate was 3.34 times the total available shares
City Crops Agro IPO retail subscription rate was 4.54 times in the retail segment
City Crops Agro IPO non-institutional investor subscription rate was 2.15 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
29 Sep 2023 (Day 4) | 4.54x | 2.15x | - |
28 Sep 2023 (Day 3) | 1.44x | 1.56x | - |
27 Sep 2023 (Day 2) | 0.63x | 1.44x | - |
26 Sep 2023 (Day 1) | 0.25x | 1.43x | - |
City Crops Agro FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| H1FY23 | 6.1 | 96.1 | -4.8 | -4.8 |
| FY22 | 4.8 | 177.5 | -59.1 | -59.3 |
| FY21 | 0.4 | 34.9 | 3.3 | 3.3 |
City Crops Agro IPO SUBSCRIPTION STATUS DETAILS
City Crops Agro had 6.0 M shares on offer
City Crops Agro IPO offer price was ₹25
City Crops Agro IPO minimum Investment was ₹150000
City Crops Agro IPO issue size was ₹ 150.0 M
City Crops Agro had a minimum lot size of 6000 Shares per application
City Crops Agro NUMBER OF SHARES ON OFFER
City Crops Agro IPO IMPORTANT DATES
| Issue Open Date | 26 Sep 2023 |
| Issue close Date | 29 Sep 2023 |
| Allotment Date | 05 Oct 2023 |
| Refund Date | 06 Oct 2023 |
| Demat Account Credit Date | 09 Oct 2023 |
| Listing Date | 10 Oct 2023 |
| Listing on Exchange(s) | BSE |
| City Crops Agro Allotment Status | Exchange |
City Crops Agro IPO subscription opened on 26 Sep 2023, and closed on 29 Sep 2023
IPO allotment for City Crops Agro was finalized on Thursday, 05 Oct 2023
IPO listing for City Crops Agro was on BSE on Tuesday, 10 Oct 2023
City Crops Agro IPO LISTING GAINS
| Issue Price (adjusted) | 25.0 |
| Listing Open Price | 25.5 |
| Listing Close Price | 25.4 |
| Listing Gain% | 2.0% |
| Current Gain% | 23.8% |
City Crops Agro Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| City Crops Agro Ltd. | 31 | 50.5 | -12.8 | 0 | 2.6 | -14.2 | -11.2 | 19.5 | -65.1 | -3.9 | -258.7 | -2.4 | -258.7 |
| Adani Enterprises Ltd. | 2998.8 | 405861 | 54.5 | 3.3 | 3.6 | 11.5 | 3.6 | 102943.2 | 2.6 | 9339.5 | 31.6 | 55 | 16.7 |
| Redington Ltd. | 355.5 | 27792.1 | 16.3 | 4 | 0.2 | 14.7 | 4.4 | 119347.4 | 19.9 | 1490.2 | -7.1 | 21.8 | 4.1 |
| Lloyds Enterprises Ltd. | 81.9 | 12374.5 | 43.7 | 0.1 | 7 | 6.8 | 3.9 | 2183.7 | 39 | 283.4 | 396.5 | 1.9 | 396.5 |
| MMTC Ltd. | 64.6 | 9697.5 | 25 | 0.1 | 2843.8 | 18.3 | 13.8 | 180.6 | -31.3 | 387.4 | 347.2 | 2.6 | 347.2 |
| Swan Corp Ltd. | 308.8 | 9681.1 | 35.3 | -0.6 | 2.2 | 3.6 | 2 | 5143.5 | -25.3 | 274.1 | -63.7 | 8.7 | -63.7 |
City Crops Agro INFORMATION ON IPO ISSUE
About City Crops Agro
City Crops Agro was incorporated on April 2, 2013, as Bhagya Agro-Care Private Limited. The company is engaged in the business of trading products such as seeds and agricultural produce—mainly rice, wheat, onions, potatoes, tomatoes, isabgol, and pulses.
Object of the Issue
- To meet the working capital requirements of the company
- General corporate purposes
- To meet the issue expenses
City Crops Agro - PROMOTERS
| Name |
|---|
| Kaupilkumar Hasmukhbhai Shah |
| Shitalben Kaupilkumar Shah |
City Crops Agro Lead Manager of the Issue
Turnaround Corporate Advisors Private Limited
info@tcagroup.in
City Crops Agro Registrar to the Issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
City Crops Agro Strengths
Organisational stability
The company's ability to withstand economic and business cycles is evidenced by its group's established track record of over nine years. Additionally, its qualified promoters bring more than ten years of relevant expertise to the table
Wide range of products
The company offers a wide range of products, thereby expanding its customer base and enhancing its ability to serve a diverse clientele
City Crops Agro Risks
Incurred losses
The company has experienced losses in the past and may face losses in the future as well. Due to the nature of the industry, there's a risk of bad debts and product deterioration, which could arise from fluctuations in demand and supply
Seasonal business
The company's seeds business is highly seasonal, and this seasonality could impact its operating results and cash flow
IPO FAQs
The promoters of the company are Kaupilkumar Hasmukhbhai Shah and Shitalben Kaupilkumar Shah.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 25.0 - 25.0.
The IPO application opens on Sep 26, 2023 and closes on Sep 29, 2023.
The minimum lot size for the IPO is 6000. The maximum lot size for the IPO is 6000.
For all category investors, the minimum application amount for this IPO is Rs. 150,000.0, the maximum value for this IPO is Rs 150,000.0.
This IPO will be allotted on Oct 05, 2023.
The refund will be credited to your account on Oct 06, 2023.
The allotted shares will be credited to your demat on Oct 09, 2023.
City Crops Agro Ltd.’s shares listed on the stock exchanges on Oct 10, 2023.