Baba Food Processing India
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 03 Nov 2023 – 07 Nov 2023
- Listing date
- 15 Nov 2023
- Face value
- ₹10 per share
- Issue price
- ₹76 per share
- Lot size
- 1,600 shares
- Issue type
- Book Building issue
- Total issue size
- ₹32.88 Cr
- Market cap at offer price
- ₹124 Cr
- Promoter holding
- 99.99% → 73.50% pre-issue → post-issue
- ISIN
- INE0QW501012
- Registrar
- MAS Services Ltd.
- Lead managers
- Horizon Management Pvt.Ltd.
- Registered office
- 6th Floor, Home Decor Building, Opposite Durga Mandir, Ratu Road, Ranchi G.P.O., Jharkhand
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 2,17,600 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹76
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,21,600 |
| S-HNI (min) | 2 | 3,200 | ₹2,43,200 |
| S-HNI (max) | 8 | 12,800 | ₹9,72,800 |
| B-HNI (min) | 9 | 14,400 | ₹10,94,400 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 4.20 | — |
| P/E (×) | 18.10 | — |
| Market cap | — | ₹124 Cr |
Key performance indicators
- Return on net worth
- 20.14%
- ROCE
- 15.81%
- PAT margin
- 2.65%
- NAV per share
- ₹20.83
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Baba Food Processing India
Incorporated on April 22, 2015 as Baba Food Processing (India) Private Limited and converted into a public limited company (renamed Baba Food Processing (India) Limited) with effect from July 20, 2023, the Company operates a single manufacturing unit in Nagri, Ranchi housing two divisions — a high fibre whole wheat atta division and a refined flour division — equipped with Buhler's Swiss Technology PesaMill and Roller Flour Mill with an installed capacity of 200 tons per day. Its Promoter, Yogesh Kumar Sahu, was previously a partner in 'M/s. Baba Flour Mill', engaged in agro-commodity trading and milling; the Company set up the PesaMill in 2016, launched the 'Panchakanya' and 'Bhajan' brands, and added the roller flour mill in 2018. It earns revenue by selling Whole Wheat Atta, Maida, Tandoori Atta and Sooji, together with by-products (wheat bran sold as cattle/fish feed, waste dust and bags) and job-work services, through five channels — institutional manufacturers (customers include ITC Limited, Parle Products, Anmol Industries Limited and Moreish), modern traders (Reliance SMART, JIO Mart), dealers, wholesalers and retailers — in Jharkhand, Odisha and West Bengal; it also markets Chickpea Flour (Besan) and Roasted Gram Flour (Sattu) under the 'Panchakanya' brand, procured from third-party manufacturers. Its manufacturing unit is described as zero waste and zero discharge. In Fiscal 2023 the Company reported revenue from operations of ₹18,953.95 lakhs and profit after tax of ₹503.44 lakhs. Through its wholly owned subsidiary Panchakanya Foods Private Limited (incorporated April 5, 2023), it is setting up an ultra-modern highly automated roller flour mill and chakki whole wheat atta mill in Patna, Bihar, to expand into Bihar, West Bengal, Andhra Pradesh, North East Region, Odisha and Jharkhand.
Company Analysis
from RHPBaba Food Processing (India) Limited is a Ranchi (Jharkhand)-based flour milling company that manufactures and sells wheat-based flours — Whole Wheat Atta, Refined Flour (Maida), Tandoori Atta and Semolina (Sooji) — along with by-products and traded gram flours under its 'Panchakanya' and 'Bhajan' brands, spanning the food processing/FMCG and agro-commodity industries.
Incorporated on April 22, 2015 as Baba Food Processing (India) Private Limited and converted into a public limited company (renamed Baba Food Processing (India) Limited) with effect from July 20, 2023, the Company operates a single manufacturing unit in Nagri, Ranchi housing two divisions — a high fibre whole wheat atta division and a refined flour division — equipped with Buhler's Swiss Technology PesaMill and Roller Flour Mill with an installed capacity of 200 tons per day. Its Promoter, Yogesh Kumar Sahu, was previously a partner in 'M/s. Baba Flour Mill', engaged in agro-commodity trading and milling; the Company set up the PesaMill in 2016, launched the 'Panchakanya' and 'Bhajan' brands, and added the roller flour mill in 2018. It earns revenue by selling Whole Wheat Atta, Maida, Tandoori Atta and Sooji, together with by-products (wheat bran sold as cattle/fish feed, waste dust and bags) and job-work services, through five channels — institutional manufacturers (customers include ITC Limited, Parle Products, Anmol Industries Limited and Moreish), modern traders (Reliance SMART, JIO Mart), dealers, wholesalers and retailers — in Jharkhand, Odisha and West Bengal; it also markets Chickpea Flour (Besan) and Roasted Gram Flour (Sattu) under the 'Panchakanya' brand, procured from third-party manufacturers. Its manufacturing unit is described as zero waste and zero discharge. In Fiscal 2023 the Company reported revenue from operations of ₹18,953.95 lakhs and profit after tax of ₹503.44 lakhs. Through its wholly owned subsidiary Panchakanya Foods Private Limited (incorporated April 5, 2023), it is setting up an ultra-modern highly automated roller flour mill and chakki whole wheat atta mill in Patna, Bihar, to expand into Bihar, West Bengal, Andhra Pradesh, North East Region, Odisha and Jharkhand.
Objects of the Issue
- Investment in wholly owned Subsidiary Panchakanya Foods Private Limited (PFPL) for setting up a manufacturing unit in Patna, Bihar, comprising an ultra-modern highly automated roller flour mill and chakki whole wheat atta mill Up to ₹ 2,029.88 lakhs p.83
- Funding purchase of machinery for manufacturing Chickpea Flour (Besan) and Roasted Gram Flour (Sattu) in the existing manufacturing unit in Ranchi Up to ₹ 365.70 lakhs p.83
- Funding working capital requirements of the Company Up to ₹ 250.00 lakhs p.83
- Prepayment or repayment of all or a portion of certain outstanding unsecured borrowings availed by the Company (₹ 638.82 lakhs outstanding from Group Company Baba Agro Food Limited as on August 31, 2023) Up to ₹ 200.00 lakhs p.83
- General corporate purposes (strategic initiatives, general procurement, brand building and marketing, ongoing general corporate exigencies) p.83
Issue Structure
- Total Issue
- Upto [•] Equity Shares aggregating Up to ₹ 3,300.00 lakhs
- Fresh Issue
- Upto [•] Equity Shares aggregating Up to ₹ 3,300.00 lakhs
- Offer for Sale
- Nil
- Face Value
- ₹ 10/-
Business Model
The Company earns revenue from the sale of manufactured wheat-based products (Whole Wheat Atta, Refined Flour/Maida, Tandoori Atta, Semolina/Sooji) through institutional manufacturers (B2B supply and job work), modern traders, dealers, wholesalers and retailers under its 'Panchakanya' and 'Bhajan' brands; it additionally monetises by-products and waste (wheat bran as cattle/fish feed, waste dust, used bags) making the unit zero-waste/zero-discharge, and generates trading revenue from Chickpea Flour (Besan) and Roasted Gram Flour (Sattu) procured from third-party manufacturers.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Yogesh Kumar Sahu | Promoter | 91.01% | — |
| Binita Sahu | Promoter Group | 4.16% | — |
| Yogesh Kumar Sahu HUF | Promoter Group | 4.83% | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.