Italian Edibles IPO is a fixed price issue of Rs 26.66 crores. The issue is entirely a fresh issue of 39.2 lakh shares.
Italian Edibles IPO bidding opened for subscription on February 2, 2024 and will close on February 7, 2024. The allotment for the IPO is expected to be finalized on Thursday, February 8, 2024. IPO will list on NSE SME with tentative listing date fixed as Monday, February 12, 2024.
IPO price is ₹68 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹136,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹272,000.
First Overseas Capital Limited is the book running lead manager of the IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Italian Edibles IPO is Nikunj Stock Brokers.
Refer to Italian Edibles IPO RHP for detailed information.
About Italian Edibles Limited
Founded in 2009, Italian Edibles Limited offers a wide range of confectionery products such as Rabdi [Meethai Sweet], milk paste, chocolate paste, lollipops, candies, jelly sweets, multigrain puffed buns, and fruit-based products under its OfCour’s brand.
The company has two manufacturing facilities at Gram Palda, Indore and Prabhu Toll Kanta, Indore (Madhya Pradesh).
Italian Edibles is present all over India, especially in the rural and semi-urban areas of Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Kerela, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand and West Bengal. The company also exports its products to various countries such as Nigeria, Yemen, Sinegal, and Sudan.
As of August 31, 2023, the Company’s customer list includes Chocolate World, Yuvraj Agency, Bakewell Biscuits Private Limited, R. K. Prabhavati Tarders, Mamta Stores, Ma Laxmi Traders, Suria Distributor, etc. In addition, one of its products, namely Jelly Candies, is sold to Dharpal Premchand Ltd (BABA) Group.
The company has a dedicated sales and marketing team consisting of 15 employees.
Italian Edibles IPO Details
| IPO Date | February 2, 2024 to February 7, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹68 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 3,920,000 shares (aggregating up to ₹26.66 Cr) |
| Fresh Issue | 3,920,000 shares (aggregating up to ₹26.66 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 10,857,151 |
| Share holding post issue | 14,777,151 |
| Market Maker portion | 200,000 shares |
Italian Edibles IPO Reservation
Italian Edibles IPO offers 3,920,000 shares. 1,860,000 (47.45%) to NII, 1,860,000 (47.45%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 200,000 (5.10%) |
| Other Shares Offered | 1,860,000 (47.45%) |
| Retail Shares Offered | 1,860,000 (47.45%) |
| Total Shares Offered | 3,920,000 (100%) |
Italian Edibles IPO Timeline (Tentative Schedule)
Italian Edibles IPO opens on February 2, 2024, and closes on February 7, 2024.
| IPO Open Date | Friday, February 2, 2024 |
| IPO Close Date | Wednesday, February 7, 2024 |
| Basis of Allotment | Thursday, February 8, 2024 |
| Initiation of Refunds | Friday, February 9, 2024 |
| Credit of Shares to Demat | Friday, February 9, 2024 |
| Listing Date | Monday, February 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 7, 2024 |
Italian Edibles IPO Lot Size
Investors can bid for a minimum of 2000 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 | 2000 | ₹136,000 |
| Retail (Max) | 1 | 2000 | ₹136,000 |
| HNI (Min) | 2 | 4,000 | ₹272,000 |
Italian Edibles IPO Promoter Holding
Mr. Ajay Makhija and Mr. Akshay Makhija are the promoters of the company.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.47% |
Italian Edibles Limited Financial Information (Restated)
Italian Edibles Limited’s revenue decreased by -16.1% and profit after tax (PAT) rose by 229.4% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Aug 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 4,824.64 | 4,155.24 | 3,905.45 | 3,946.43 |
| Revenue | 3,052.16 | 6,330.09 | 7,545.25 | 4,899.44 |
| Profit After Tax | 209.68 | 264.21 | 80.21 | 86.52 |
| Net Worth | 1,287.92 | 1,078.24 | 814.03 | 583.82 |
| Reserves and Surplus | 202.21 | 906.82 | 642.60 | 433.82 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Italian Edibles IPO is Rs 100.48 Cr.
| KPI | Values |
|---|---|
| ROE | 24.50% |
| ROCE | 19.32% |
| Debt/Equity | 1.6 |
| RoNW | 24.50% |
| P/BV | 1.08 |
Italian Edibles Limited Contact Details
309/1/1/8 Block No.03,
Mangal Udhyog Nagar, Gram Palda,
Indore – 452020
Phone: +91 9826298268
Email: italian_edibles@yahoo.com
Website: https://www.ofcoursegroup.com/
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