Listing price estimate by Sonam Sinha,MBA Finance, Delhi is available in Page Bottom Box.Sonam`s IPO Note is given in another Page-bottom-box.
Grey Market Report :
On 14 October 2017, at 10.30 IST
on Day 3(on 06.19.2017 at 17.00 IST)
QIB : shares offered:50,82,882 Subscribed: 150.9587 T
NII : Shares offered: 37,50,042 Subscribed : 236.0397T
RII : Shares offered : 87,50,096 Subscribed : 7.1576 T
Total : Shares offered :180,27,464 Subscribed : 95.1603 T
Short Note about the Company:
Godrej Agrovet ,Incorporated in 1991, is a leading company having diverse product-portfolio of Animal Feed, Crop Protection, Oil Palm, Dairy and Poultry and Processed Foods. Godrej Agrovet is the largest crude palm oil producer in India.
a) Animal feed business : Cattle feed, poultry feed (broiler and layer), aqua feed (fish and shrimp) and specialty feed. These products are produced at 35 locations and sold through about 4000 distributors across India.Godrej Agrovet is the leading compound animal feed company in India, on the basis of installed capacity for the financial year 2016, according to the CRISIL Animal Feed report from 2016.
b) Crop protection business : Plant growth regulators, Organic manures, Agrochemicals and specialized herbicides. These products are sold in India and 24 other countries.The Company has more than 6000 distributors in this business line
c) Oil palm business : Crude palm oil, Crude palm kernel oil and palm kernel cake. The company owns five palm oil mills where these products are manufactured
d) Dairy business is operate through its subsidiary : Creamline Dairy. The company own nine milk processing units.It has 2,500 milk-product distributors and 50 retail parlors.During FY2015-16, the company also acquired Creamline Dairy, a south India-focused milk and milk products firm along with Astec Lifesciences Ltd, an agri-chemical and pharma intermediates firm, further strengthening the company’s presence across the agri- and food business value chain.
e) Company also produce processed poultry and vegetarian products under the its popular brands ‘Real Good Chicken’ and ‘Yummiez’.
Godrej Industries is the largest shareholder in the company with a 63.7% stake.Godrej group enteres Capital market after nearly a decade; the last being Godrej Properties (which went public in 2010).The calibre of promoters like the Godrej family only makes the issue more attractive to potential investors.
Equities brokerage firm Axis Capital has valued Godrej Agrovet at Rs7,000 crore, based on estimated earnings for 2017-18.
The promoters :
Mr Nadir B. Godrej and Mr Adi B. Godrej
Main objects of the issue are:
The 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;
IPO Opens on : 4th October 2017
IPO Closes on : 6th October 2017
Issue Type: Book Built Issue IPO
Issue Size:[.] Equity Shares of Rs 10 aggregating up to Rs 1,157.31 Cr
Face Value: INR 10 per share
Price Band: Per Equity Share INR 450-460
Minimum Order Quantity: 32 Shares
Minimum Application amount for RII: INR 14,720
Listing will at: BSE,NSE
Shares offered to NIIs
Shares offered to NIIs
Shares offered to RIIs:
Shares offered to RIIs:
03rd Oct – Anchor List
04th Oct – Offer Opens
06th Oct – Offer Closes
11th Oct – Finalisation of Basis of Allotment
12th Oct – Unblocking of ASBA
13th Oct – Credit to Demat Accounts
16th Oct – Listing on NSE & BSE
Total Income of 2016-17 INR 4983.29 crore
Net Profit of 2016-17 INR 273,53 Crore
Earnings per Share (EPS) INR 11.42
Equity Capital as on 31.3.2017 :INR 185.13 Crore
Equity Capital after the IPO: Rs.
Upper Price Band/last EPS: 40.28
Book Value of the Share as per last Balancesheet INR 54.49
Upper offer price/Book Value Ratio: 8.44
Godrej Agrovet reported a 30.5% year-on-year increase in revenue to Rs4,985 crore in FY16-17, according to the Godrej Industries annual report, while profit before tax was up 12% to Rs375 crore.
1. Axis Capital Ltd,
2. Credit Suisse Securities (India) Private Limited
3. Kotak Mahindra Capital Company Limited
Registrar to theIPO:
Karvy Computershare Private Limited
Phone of the Registrar: +91-40-23312454
Registrered Office of the Company :
Godrej Agrovet Limited
Godrej One, 3rd Floor, Pirojshanagar,
Eastern Express Highway,
Vikhroli (East), Mumbai 400 079
On 13 October 2017, at 10.30 IST INR 160/164
On 10 October 2017, at 10.30 IST INR 150/152Kostak INR 750
On 06 October 2017, at 12.00 IST INR 115/117 Kostak : 550 Subject to INR 2500
On 05 October 2017, at 12.00 IST INR 115/118 Kostak : 500 Subject to INR 2500
On 04 October 2017, at 12.00 IST INR 115/118 Kostak : 500 Subject to INR 2500
On 01 October 2017, at 12.00 ISTINR 112/115 Kostak : 500 Subject to INR 2500
On 28 September 2017, at 12.00 IST INR 110/115 Kostak : 500 Subject to INR 2500
On 27 September 2017, at 12.00 IST :INR 120/130 Kostak : 500 Subject to INR 2500