Business description from prospectus – Godrej Agrovet is a diversified, research and development focused agri-business company with operations across five business verticals: animal feed (cattle feed, poultry feed, aqua feed and specialty feed), crop protection (plant growth regulators, organic manures, generic agrochemicals and specialized herbicides), oil palm (crude palm oil, crude palm kernel oil and palm kernel cake), dairy (milk and milk based products), and poultry and processed foods. It claims to be the leading compound animal feed company in India, on the basis of installed capacity for the financial year 2016. In Bangladesh, its joint venture, ACI Godrej was the fourth largest feed producer, in terms of sales volume, during the financial year 2016. The company is also the largest crude palm oil producer in India, in terms of market share, as of March 31, 2017.
It has two dedicated R&D centres for crop protection business at Mumbai and Thane, which has enabled the company to launch new products. The oil palm business has a dedicated R&D center at Andhra Pradesh, which is focused on improving the yield performance of oil palm crop and exploring new avenues of value creation from oil palm biomass.
Promoters of Godrej Agrovet – Godrej Industries Limited, Nadir B. Godrej and Adi B. Godrej
| Godrej Agrovet IPO details | |
| Subscription Dates | 4 – 6 October 2017 |
| Price Band | INR450 – 460 per share |
| Fresh issue | INR291.5 crore |
| Offer For Sale | INR300 crore + 12,300,000 shares (INR565.8 crore) |
| Total IPO size | INR1,157.3 crore |
| Minimum bid (lot size) | 32 shares |
| Face Value | INR10 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
| Godrej Agrovet’s financial performance (in INR crore) | ||||||
| FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | ||
| Total revenue | 2,771.6 | 3,117.4 | 3,325.5 | 3,817.7 | 4,983.3 | |
| Total expenses | 2,634.1 | 2,928.9 | 3,108.3 | 3,608.5 | 4,649.4 | |
| Profit after tax | 96.6 | 156.5 | 210.0 | 261.0 | 273.5 | |
Godrej Agrovet Limited
Godrej One, 3rd Floor
Pirojshanagar, Eastern Express Highway
Vikhroli (East), Mumbai 400 079
Phone: +91 22 2519 4416
Fax: +91 22 2519 5124
Email: [email protected]
Website: www.godrejagrovet.com
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Fax: +91 40 2343 1551
Email: [email protected]
Website: www.karvycomputershare.com
Earnings Per Share (EPS): INR10.92
Price/Earnings (P/E) ratio: 41.2 – 42.12
Return on Net Worth (RONW): 22.68%
Net Asset Value (NAV): INR54.49 per share
| Category | Shares offered | Subscription (no. of times, at 5 PM) | ||
| Day 1 | Day 2 | Day 3 | ||
| QIB | 5,082,882 | 0.27 | 1.94 | 150.95 |
| NII | 3,750,042 | 0.09 | 2.06 | 236.04 |
| Retail | 8,750,096 | 0.86 | 2.77 | 7.02 |
| Employees | 444,444 | 0.07 | 0.25 | 0.80 |
| Total | 18,027,464 | 0.52 | 2.32 | 95.09 |
Godrej Agrovet IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status. You can also check allotment status using application number on this link.
IPO Opening Date: 4 October 2017
IPO Closing Date: 6 October 2017
Finalisation of Basis of Allotment: 12 October 2017
Initiation of refunds: 13 October 2017
Transfer of shares to demat accounts: 13 October 2017
Listing Date: 16 October 2017
Listing Price on NSE: INR615.6 per share (up 33.82% from IPO price)
Closing Price on NSE: INR595.65 per share (up 29.48% from IPO price)
