Freshara Agro Exports IPO

About Freshara Agro Exports IPO

Freshara Agro Exports Limited is launching its IPO, a book-built issue worth ₹75.39 crores, entirely a fresh issue comprising 64.99 lakh equity shares. The IPO opens for subscription on October 17, 2024, and closes on October 21, 2024. The allotment of shares is expected to be finalised on October 22, 2024, with the shares set to list on NSE SME on October 24, 2024.

The IPO price band is set between ₹110 and ₹116 per share, with a minimum application size of 1,200 shares. Retail investors are required to invest a minimum of ₹1,39,200, while high-net-worth individuals (HNIs) need to invest in at least 2 lots (2,400 shares) for a total investment of ₹2,78,400.

GYR Capital Advisors Private Limited is the book-running lead manager for the issue, with Purva Sharegistry India Pvt Ltd acting as the registrar. Giriraj Stock Broking is the market maker for this IPO.

Industry Outlook

1. India's agriculture sector saw a 3.5% growth rate in 2022-23, with a projected 5.5% growth in GVA for 2023-24, driven by record crop production.
2. Agricultural exports from India reached US$ 52.50 billion in 2022-23, with rice contributing US$ 11.14 billion, showing a 15.22% growth in exports.

Freshara Agro Exports IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

1. To meet out the Capital Expenditure;
2. Funding the working capital requirements of the company;
3. To meet the General Corporate Purposes; and
4. To meet the Issue Expenses.

About Freshara Agro Exports Limited 

Freshara Agro Exports Limited, formerly Freshara Picklz Exports, was founded in 2015 and specialises in procuring, processing, and exporting preserved gherkins and other pickled goods from India to global markets. Through its contract farming program, the company works with local farmers in Tamil Nadu, Karnataka, and parts of Andhra Pradesh, exporting 70% of raw produce directly to factories for processing, while the remaining 30% is supplied to food brokers and traders internationally. Freshara's product range includes gherkins, baby corn, jalapenos, and various pickled vegetables.

As of March 31, 2024, Freshara operates three packaging categories: industrial packaging in food-grade drums and pails, food packaging in plastic buckets and tin cans, and retail packaging in glass jars and tin cans. The company is accredited by leading organisations such as FSSAI, FDA, Star-K Kosher, APEDA, and BRCGS, ensuring compliance with international standards and reinforcing its commitment to quality and safety in food exports.

Peer Details

Freshara Agro Exports Limited operates in a unique business segment with no directly comparable listed companies in India.

How To Check the Allotment Status of the Freshara Agro Exports IPO?

A: Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Freshara Agro Exports IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Freshara Agro Exports IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Freshara Agro Exports IPO 

Registered office: Old No.3, New No.9, Puram Prakasam Road, Balaji Nagar, Royapettah, Chennai, Tamil Nadu – 600014, India

Phone: +91 44 4357 0138

E-mail: cs@fresharaagroexports.com