Khyati Global Ventures
Fixed Price issueSMEBSE₹18.30 Cr issue
+6.06%
Listing gain over issue price
Issue size
₹18.30 Cr
1 lot at cut-off
₹1,18,800
Lot size
1,200shares
Open
04 Oct 2024
Close
08 Oct 2024
Allotment
09 Oct 2024
Listing
11 Oct 2024
Listing performance
Issue price
₹99
Listed at
₹105
Listing-day close
₹99.75
Latest price
₹42.80
Close on 23 Oct 2026
Listing gain
+6.06%
Return since issue
-56.77%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 04 Oct 2024 – 08 Oct 2024
- Listing date
- 11 Oct 2024
- Face value
- ₹1 per share
- Issue price
- ₹99 per share
- Lot size
- 1,200 shares
- Issue type
- Fixed Price issue
- Listing at
- BSE
- Total issue size
- ₹18.30 Cr
- Market cap at offer price
- ₹69.08 Cr
- Promoter holding
- 87.46% → 62.86% pre-issue → post-issue
- ISIN
- INE0S9501014
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Aryaman Financial Services Ltd.
- Registered office
- 54 Juhu, Supreme Shopping Centre, Gulmohar Cross Road no.9, JVPD Scheme, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 93,600 | — | — |
Application size
Minimum 1,200 shares per lot, in multiples, at ₹99
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,18,800 |
| S-HNI (min) | 2 | 2,400 | ₹2,37,600 |
| S-HNI (max) | 8 | 9,600 | ₹9,50,400 |
| B-HNI (min) | 9 | 10,800 | ₹10,69,200 |
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.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
0
Anchor portion
₹0 Cr
at ₹99 per share
Valuation and performance
Valuation at offer price
₹99 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 4.27 | 5.43 |
| P/E (×) | 23.19 | 18.23 |
| Price to book (×) | 3.31 | — |
| Market cap | — | ₹69.08 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 5.34%
- ROCE
- 17.73%
- Debt / equity
- 1.02
- PAT margin
- 3.53%
- NAV per share
- ₹29.90
- Price to book
- 3.31
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Khyati Global Ventures
Khyati Global Ventures Limited, incorporated on May 10, 1993, operates as an exporter and re-packager of a variety of FMCG products spanning food stuff, non-food FMCG products, household products, festive handicraft items, and pharmaceutical products. The company's major customers are wholesalers and supermarket importers operating chains in foreign countries. It deals in basic items used by end consumers in day-to-day life, with revenue predominantly from exports to more than 40 countries. The company operates as a trading business without long-term contracts, conducting business on a purchase order basis.
Company Analysis
from RHPKhyati Global Ventures Limited is an exporter and re-packager of FMCG products including food items, non-food FMCG goods, household products, festive handicraft items, and pharmaceuticals, serving wholesale and supermarket importers globally.
Khyati Global Ventures Limited, incorporated on May 10, 1993, operates as an exporter and re-packager of a variety of FMCG products spanning food stuff, non-food FMCG products, household products, festive handicraft items, and pharmaceutical products. The company's major customers are wholesalers and supermarket importers operating chains in foreign countries. It deals in basic items used by end consumers in day-to-day life, with revenue predominantly from exports to more than 40 countries. The company operates as a trading business without long-term contracts, conducting business on a purchase order basis.
FMCG productsFood StuffPharmaceutical productsHousehold productsHandicraft Goods
Objects of the Issue
- Funding Working capital requirements ₹745.00 lakhs p.22
- General Corporate Purpose ₹175.36 lakhs p.22
- Funding Working capital requirements 745.00 lakhs p.74
- General Corporate Purpose 175.36 lakhs p.77
- Capital Expenditure for expansion of manufacturing/distribution capacity and working capital requirements p.209
Issue Structure
- Total Issue
- ₹1,829.52 lakhs (18,48,000 Equity Shares of Face Value of ₹10 each at a price of ₹99 per share)
- Fresh Issue
- ₹1,037.52 lakhs (10,48,000 Equity Shares of face value of ₹10 each at a price of ₹99 per Equity Share)
- Offer for Sale
- ₹792.00 lakhs (8,00,000 Equity Shares of face value of ₹10 each at a price of ₹99 per Equity Share) comprising 4,25,000 shares by Ramesh Rughani and 3,75,000 shares by Chandrika Rughani
- Price Band
- ₹99 per Equity Share
- Lot Size
- 1,200 Equity Shares and in multiples of 1,200 thereafter; subject to a minimum allotment of 1,200 Equity Shares
- Face Value
- ₹10 each
Business Model
The company operates as an exporter and re-packager of FMCG products on a purchase order basis. It sources products, re-packages them, and exports them to wholesale and supermarket importers in foreign countries. Revenue is generated from the export of food stuffs (87.94% of revenue for period ended June 30, 2024), non-food FMCG goods (8.36%), household products (2.15%), festive/puja/handicraft items (1.30%), and pharmaceuticals (0.25%).
Business Segments
Export of food stuffs including ethnic snacks such as namkeen and gathiya, western snacks such as wafers, snack pellets and extruder snacks, along with fast-moving consumer goods that include papad, spices, gram flour or besan, noodles, rusk and soan papdi
Export of non-food FMCG goods
Export of household products
Export of festive, puja and handicraft items
Export of pharmaceutical products
Ready to cook packets, Rice, Pulses, Biscuits, Spices, Grains, Flours, Oil, Ghee, Pickles, Sauces, Jams, Snacks- Namkeen and Sweet, Beverages, Mouth fresheners etc.
Skin care such as face wash, soap, body wash, lotion, sunscreen, Hair care such as hair oil, shampoo, conditioners, serum, hair mask, Baby care products, Perfumes such as body mist, deodorants, room fresheners, Oral care such as toothpaste, mouth wash etc.
Kitchen ware items such as casserole, roti maker, pan, grater, Copperware items such as plates, glass, water jug, Brassware items such as idol murtis, dinner set, kapoor lamp etc
Mandir, fibre murtis, poojasamagri, pooja sets, tooran, rakhis etc.
Ointment, Tablets, Liquid Orals and injections
Sale of FMCG products to foreign customers including wholesalers and supermarket importers in countries such as USA, UK, New Zealand, South Africa, Australia, Uganda, UAE
Sale of FMCG products domestically within India
Export of Food Stuffs, FMCG Products, Confectionery, Bicycles & its Spares, Towels, Blankets, Pharmaceuticals & Stationery Items
SWOT Analysis
Strengths
- • Established presence in FMCG export across 40+ countries(p.28)
- • Diversified product portfolio across food, non-food FMCG, pharmaceuticals, and handicraft items(p.22)
- • Asset-light business model with low capital investment requirements(p.31)
- • Long-standing company history dating back to 1993(p.47)
- • Established relationships with customers, government agencies, and logistics partners(p.32)
- • Well-established warehouse infrastructure with 20,000 sq ft space(p.101)
- • Diverse product portfolio across multiple FMCG categories(p.101)
- • Strong export focus with presence in 40+ countries(p.102)
- • Experienced promoters with 30+ years in export business(p.103)
- • Strong financial performance with consistent CAGR growth(p.103)
- • Asset-light business model enabling high return on capital(p.100)
- • Diverse FMCG product portfolio across multiple categories(p.123)
- • Strong export credentials and government recognition(p.123)
- • Long operational history and consistency through crisis periods(p.123)
- • ISO certification demonstrating quality standards(p.123)
- • Operational efficiency through cost control measures(p.176)
- • Private label capability and customized repackaging(p.176)
Weaknesses
- • Heavy dependence on few key customers for revenue generation(p.30)
- • Significant exposure to foreign exchange fluctuation risks in export business(p.30)
- • Working capital intensive business with substantial trade receivables and inventory(p.31)
- • Negative operating cash flows in recent periods(p.29)
- • Significant debt burden affecting financial flexibility(p.37)
- • Unsecured loans that are repayable on demand creating liquidity risk(p.35)
- • Conflict of interest with promoter group entities engaged in similar business(p.27)
- • Trademark not registered in company name; registered in promoter's name(p.34)
- • Limited warehouse capacity constraining growth and inventory management(p.36)
- • Promoter group holding significant stake limiting minority shareholder influence(p.32)
- • High concentration of revenue in top customers creating dependency(p.112)
- • High working capital requirements dependent on credit from debtors(p.103)
- • Trademark applications not yet registered; brand IP held by promoter(p.114)
- • Reliance on contract labourers without long-term workforce stability(p.113)
- • High dependence on top 5 customers for significant revenue(p.177)
- • Significant leverage and debt burden(p.154)
- • Working capital management challenges evidenced by negative operating cash flow(p.156)
- • Related party concentration in business dealings(p.168)
- • Limited geographic reach constrained to traditional export markets(p.157)
- • High dependence on top 5 customers for 36.05% of revenue(p.184)
- • Significant increase in finance costs driven by higher bank borrowing(p.181)
- • Negative operating cash flow despite profitability(p.182)
- • Promoter has tax litigation pending(p.188)
Opportunities
- • Strategy to increase operational efficiency through better customer demand analysis and bulk supply management(p.38)
- • Expansion of FMCG export market by entering new geographic markets and customer segments(p.28)
- • Improvement of debt-equity ratio through capital structure optimization(p.38)
- • Working capital funding from IPO proceeds to support business growth(p.22)
- • Expand into new export markets with growing demand for Indian products(p.104)
- • Growing global demand for Indian FMCG products(p.103)
- • Build and scale private label 'Khyati' brand products(p.104)
- • Increase credit period to debtors to drive sales growth while improving profitability(p.103)
- • India positioned as world's largest spice producer and exporter with growing exports(p.92)
- • Expansion into new geographic markets and customer segments(p.176)
- • Growth in FMCG sector driven by increasing consumer demand(p.123)
- • Leveraging export house status for preferential access and incentives(p.123)
- • Expansion of private label and customized repackaging services(p.176)
- • Turnover crossed ₹100 crore milestone indicating scale potential(p.123)
- • Revenue growth through increased delivery of products(p.180)
- • Gross profit improvement from operational leverage(p.181)
- • Opportunity to capture market share through quality and execution(p.184)
Threats
- • Intense competition from domestic, multinational, and unorganized sector players in FMCG market(p.35)
- • Regulations and restrictions on export of products could be imposed or withdrawn(p.34)
- • Semi-perishable product nature exposes to demand forecasting errors and inventory wastage risk(p.33)
- • Risk of product contamination damaging brand reputation and requiring costly recalls(p.33)
- • Volatility in global economic conditions affecting international customer demand and order flow(p.29)
- • Inflation and rising transportation costs reducing profit margins(p.42)
- • Rising interest rates increasing borrowing costs and financial burden(p.39)
- • Dependence on third-party transportation providers creating supply chain vulnerability(p.36)
- • Natural calamities and geopolitical risks could disrupt operations and financial performance(p.43)
- • Adverse regulatory changes and compliance requirements increasing operational costs(p.42)
- • Intense competition from established competitors with greater capitalization(p.112)
- • Low entry barriers in export business intensifying competition(p.112)
- • Global economic slowdown could reduce export demand(p.87)
- • Exposure to foreign exchange and currency fluctuation risks(p.102)
- • Dependence on global supply chains subject to disruptions(p.101)
- • Macroeconomic volatility and global economic downturn risks(p.177)
- • Customer dependency on global economic conditions and production levels(p.177)
- • Competition from organized and unorganized segments(p.177)
- • Regulatory and trade policy changes affecting operations(p.177)
- • Availability of cheaper imported and domestic products(p.177)
- • COVID-19 pandemic ongoing uncertainty(p.176)
- • Competition from domestic and international players in FMCG and Food(p.184)
- • Business is not seasonal but dependent on order fulfillment(p.184)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Ramesh Rughani | Promoter/Promoter Selling Shareholder | 41.14% | 28.87% |
| Chandrika Rughani | Promoter/Promoter Selling Shareholder | 35.64% | 24.91% |
| Khyati Rughani | Promoter | 6.22% | 5.29% |
| Aditi Raithatha | Promoter | 2.71% | 2.30% |
| Hiren Raithatha | Promoter | 1.55% | 1.32% |
| Ramesh Rughani | Promoter, Chairperson & Executive Director | 41.14% | 28.87% |
| Chandrika Rughani | Promoter | 35.64% | 24.91% |
| Khyati Rughani | Promoter & Non-Executive Director | 6.22% | 5.29% |
| Aditi Raithatha | Promoter & Joint Managing Director | 2.71% | 2.30% |
| Hiren Raithatha | Promoter & Joint Managing Director | 1.55% | 1.32% |
| Suresh Dattani J/W Rupa Dattani | Promoter Group | 0.17% | 0.14% |
| Hansa Pajwani J/W Virendra Pajwani | Promoter Group | 0.03% | 0.03% |
| Ramesh Rughani | Promoter | 41.14% | — |
| Chandrika Rughani | Promoter | 35.64% | — |
| Khyati Rughani | Promoter | 6.22% | — |
| Aditi Raithatha | Promoter | 2.71% | — |
| Hiren Raithatha | Promoter | 1.55% | — |
| Ramesh Rughani | Promoter | — | — |
| Chandrika Rughani | Promoter | — | — |
| Ramesh Rughani | Selling Shareholder | — | — |
| Chandrika Rughani | Selling Shareholder | — | — |
Leadership
Ramesh Rughani · Chairman and Executive Director
Hiren Raithatha · Joint Managing Director
Aditi Raithatha · Joint Managing Director
Khyati Rughani · Non-Executive Director
Farhaad Dastoor · Non-Executive Independent Director
Darshan Dashani · Non-Executive Independent Director
Kamalakar Samant · Chief Financial Officer
Charu Srivastava · Company Secretary and Compliance Officer
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.
Khyati Global Ventures IPO FAQs
What is the lot size of Khyati Global Ventures IPO?
The minimum lot size of Khyati Global Ventures IPO is 1,200 shares. One lot costs ₹1,18,800 at the cut-off price.
When does Khyati Global Ventures IPO open and close?
Khyati Global Ventures IPO opened for subscription on 04 Oct 2024 and closed on 08 Oct 2024.
What is the listing date of Khyati Global Ventures IPO?
Khyati Global Ventures IPO listed on 11 Oct 2024.