Shri Venkatesh Refineries IPO: is all set to make its debut on 29th sept 21 with 11.71 Cr is primarily undertakes refining and preservation of Edible oils.
Shri Venkatesh Refineries IPO – overview
| IPO Dates | 29 sept – 1 Oct 2021 |
| IPO Price | INR 40 per share |
| Fresh issue | – |
| Offer For Sale | Nil |
| Total IPO size | 2,928,000 shares (INR 11.71 crore) |
| Minimum bid (lot size) | 3000 shares |
| Face Value | INR 10 per share |
| Retail Allocation | 50% |
| Listing On | BSE Emerge |
Shri Venkatesh Refineries IPO – Tentative Dates
| IPO Offer Opening Date | 29 Sept 2021 |
| IPO Closing Date | 01 Oct 2021 |
| Finalization of Basis of Allotment | 06 Oct 2021 |
| Initiation of refunds | 08 Oct 2021 |
| Transfer of shares to demat accounts | 08 Oct 2021 |
| IPO Listing Date | 11 Oct 2021 |
| Opening Price on BSE SME | Coming soon |
| Closing Price on BSE SME | Coming soon |
Company Overview
Incorporated in 2003, Shri Venkatesh Refineries is one of the growing edible oil refining companies in Maharashtra under the brand name, Rich Soya. It primarily undertakes refining and preservation of Edible oils (Soyabean oil and cotton seed oil) and has a total refining capacity of 36000 tons. It is further engaged in the trading activities of soyabean oil, palm oil, cotton seed oil, and sunflower oil. The company aims to create “Rich Soya” a leading edible oil brand name by serving quality edible oil at an affordable price.
The company has a manufacturing facility located at Jalgaon, Maharashtra with a total storing capacity of 6000 MT.
Industry Overview
The country must rely on imports to meet the gap between demand and supply. Import of edible oil is under the Open General License. To harmonize the interests of farmers, processors and consumers and at the same time, regulate large import of edible oils to the extent possible, import duty structure on edible oils is reviewed from time to time. W.E. F. 14.06.2018, the import duty on all crude and refined edible oils was raised to 35% and 45% respectively while the import duty on Olive oil was increased to 40%.
The import duty on Crude and Refined Palm Oil was revised to 40% and 50% respectively for imports from ASEAN countries and 40% and 45% respectively for imports from Malaysia. To ensure availability of edible oil in the country, export of edible oil has been banned w.e.f. 17.03.2008, which was extended from time to time. With effect from 06.02.2015, export of rice bran oil in bulk has been permitted. With effect from 27.03.2017, export of groundnut oil, sesame oil, soyabean oil and maize (corn) oil has been permitted. With effect from 06.04.2018, export of all edible oils except mustard oil was made free without quantitative ceiling; pack size etc., till further orders. Export of mustard oil is permitted in packs of up to 5 Kg with a Minimum Export Price (MEP) of USD 900 per MT.
Competitive Strengths:
- “Rich Soya” is a strong brand name in the edible oil industry.
- Best quality edible oil products.
- Established distribution network with 140+ dealers and distributors across the state of Maharashtra.
- Experienced and quality management team.
Objectives of the issue
- Meet working capital requirements.
- Meet issue expenditures.
- General corporate purposes.
Company Financials
| Particulars | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
| Total Assets | 934.06 | 672.55 | 491.11 |
| Total Revenue | 3,369.93 | 2,355.17 | 2,269.88 |
| Profit After Tax | 35.08 | 22.07 | 12.60 |
Company Contact Information
Shri Venkatesh Refineries Limited
GAT NO. 16, Umarde,
Erandol, Jalgaon, 425109
Phone: +91-02588-244452
Email: info@richsoya.in
Website: http://www.richsoya.in/
Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: http://www.purvashare.com
Lead Manager(s)
- Hem Securities Limited (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager Performance Tracker
