Keventer Agro IPO

The Keventer Group is a Rs. 1,500 crore business conglomerate headquartered in Kolkata. Keventer Agro Limited, the Keventer Group’s food processing subsidiary, is among the rapidly emerging food companies in Eastern India. Keventer Agro IPO will hit the market in 2021.

Keventer Agro has a presence in a number of sectors, including dairy, bananas, frozen foods, food export, beverage franchisees, and hospitality franchisees.

History

Keventer Agro Limited, founded in 1986, acquired the rights to Edward Keventer’s services and now aims to expand on Edward Keventer’s 125-year heritage in Food & Dairy while remaining faithful to Edward Keventer’s ideology and values.

In 1996, Keventer Agro became one of three partners in India’s initial joint sector dairy venture, Metro Dairy, which was sponsored by the World Bank as part of the Operation Flood Phase III Program.

Currently, Metro Dairy is a wholly owned subsidiary of Keventer Agro, and “Metro” is one of Kolkata’s major three dairy brands.

Network

The firm has a strong distribution network in the Eastern area, with 2300 dealers, 35 super C/F agents, and 150,000 retail stores. The firm also operates a dry warehouse and logistics center of 400,000 sq. ft. for customers and associate corporations on a 200-acre campus in Barasat, West Bengal.

It boasts several food processing facilities, all of which have ISO 22000 quality certifications from international institutions.

Partners

Their dedication to maintaining the highest quality standards has won them partnerships with several of India’s most prestigious firms, including Parle Agro (Frooti, Appy, and Bailley), Tata Housing (real estate), ITC (noodle manufacturing), and GFA (Coffee World and Cream & Fudge).

Mission

• To draw on their 125-year history and experience in the food processing and dairy industries.
• Through launching new innovations, and services they will continue to evolve and ensure that the Keventer brand remains important to their customers in ever-changing times.
• To be and remain an important part of their customers’ regular food baskets by offering a diverse selection of items.
• From farm to fork, standard procedures in technology and sanitation are practiced at every level of the food processing value chain.
• To maintain that the Kevlar brand’s slogan of “prosperous life” is clearly communicated to all of our stakeholders, including customers, staff, suppliers, distributors, retailers, and shareholders.

Keventer Agro IPO

Keventer Agro Limited, headquartered in Kolkata has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 800 Crore on 08 August 2021.

The Offer includes 350 Crore value fresh equity shares and an offer for sell(OFS) of up to 10,767,664 equity shares by the promoters.

They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.

Financials Trends

Basic and Diluted Earnings Per Share

Objects of the Issue

• Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
• To meet common corporate objectives.

Basis of the offer

Few of the basic parameter values on which the offer price is determined are:

1. One of the major companies in East and Northeast India in a large and diverse variety of products that satisfy various client requirements.
2. Robust multi-channel distribution platform and technology for efficiency in distribution.
3. Visibility of their brand and marketing actions.
4. Strong history of bringing new goods and innovation through the existing distribution infrastructure, complemented by successful placement.
5. Their state-of-the-art production infrastructure, excellent supplies and high quality and safety standards for foodstuffs.
6. Experienced board and well qualified leadership team.

Keventer Agro IPO Peer Comparison

Keventer Agro IPO Details

Keventer Agro IPO Date

Keventer Agro IPO opening date is October 2021, and the closing date is October 2021. The issue may list in October 2021.

Basis of Allotment

Keventer Agro IPO Allotment Status

Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.

Here, you can find the Allotment Status of Keventer Agro IPO.

Keventer Agro IPO GMP

Keventer Agro IPO Grey Market Premium is 0.

Keventer Agro IPO Review

Keventer Agro IPO review will depend on the price band. Whenever it will be announced we will update you regarding review of this IPO is good or bad.

Keventer Agro IPO Risk

These are the major issues with Keventer Agro limited:

• Inadequate or interrupted supply of their raw materials, seasonality and price volatility may have a negative effect on their operations.
• Their business and their operations were adversely affected by the coronavirus disease (COVID-19).
• In prior taxation, They have declared a restated loss and in future may result in more losses.
• The Directorate of Enforcement (the government of India), is being investigating against them.
• Some businesses along with one of their promoters as well as certain of their group companies’ stocks have, because to certain infringements of their previously listed requirements, been stopped from trading on Calcutta Stock Exchange Limited.

Other Threats

• Failure to adapt product offers to changing consumer preferences might have a significant negative impact on a company’s bottom line.
• They are subject to a dispute for public interest in connection with their acquisition by the State of West Bengal of equity shares of their former subsidiary MDL.
• Their company & promoters are involved in pending legal procedures that may adversely influence their enterprise.
• If their future development and expansion is not successfully managed, their business might be significantly undesirable.
• Any transportation disruption might have an unfavourable effect on their business.
• In the past financial year, some of their group companies suffered losses.

Keventer Agro IPO Brokerage views

• Yes Securities : Not Updated
• Choice Brokering: Not Updated
• Axis Securities: Not Updated
• IIFL Securities: Not Updated
• Trade swift: Not Updated
• Anand Rathi : Not Updated
• ICICI Securities: Not Updated

Keventer Agro IPO Subscription Status

Promoters

• Mayank Jalan
• Keventer Global Private Limited
• MKJ Developers Limited
• Edward Keventer Private Limited
• Keventer Capital Limited
• Sarvesh Housing Projects Private Limited
• Speedage Trade Limited

Promoter Holding