i. The company is an integrated health food brand that has its presence in the entire range of dry fruits, nuts, seeds, and berries and healthy snacking products across the value chain. The company’s approach in the space focuses on diversifying across the baskets and intensifying its presence across the value chain; in the end, being a ‘one-stop shop’ for healthy food products.
ii. The company strives at building the revenue stream by moving across the value chain from origination to distribution and creating an integrated business model – from “farm to homes”. The company operates through its Material Subsidiaries like Prov Foods Private Limited, and Proventus Retail Private Limited.
iii. Its Products: The company markets its products under the brand name – “ProV”. The product range of Proventus Agrocom Limited includes Nuts, Dry Fruits, Seeds, and Berries like: Almonds, Pistachios, Cashews, Walnuts, Raisins and Other Nuts, Dry Fruits, Seeds and Berries.
iv. Competitive Strengths
i. Strong sourcing capabilities and quality control measures.
ii. Diversified product portfolio and customer base.
iii. Experienced management team and skilled workforce.
iv. Robust distribution network and online presence.
v. Focus on innovation and new product development.
Objects of the Proventus Agrocom Limited IPO:
A. Fresh Issue of up to 6,71,853 equity shares (Rs 51.79 Crore)
i. Funding working capital requirements of the Company;
ii. Funding working capital requirements of the material subsidiary namely, Prov Foods Private Limited;
iii. General Corporate Purposes.
B. Offer for Sale of up to 2,30,147 equity shares (Rs 17.74 Crore)
Promoter Selling Shareholder :-
1. Shree JMD Investment Advisors LLP (1,02,147 shares)
2. Shalin Sanjiv Khanna (4,998 shares)
3. Sanjiv Jagdish Khanna (8,000 shares)
Other Selling Shareholder :-
1. Guruprasad Rao (95,001 shares)
2. Manish Bhagchand Jain HUF (20,001 shares)
Proventus Agrocom Limited IPO Details:
||May 24 2023
||May 26 2023
|| ₹ 10 Per Equity Share
||Fixed Price Issue IPO
|| ₹ 771 Per Equity Share
||Jun 05 2023
Discussion on Proventus Agrocom Limited IPO: