MRP Agro SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 08 Feb 2021 – 10 Feb 2021
- Listing date
- 18 Feb 2021
- Face value
- ₹10 per share
- Issue price
- ₹40 per share
- Lot size
- 3,000 shares
- Total issue size
- ₹3.24 Cr
- Market cap at offer price
- ₹11.92 Cr
- Promoter holding
- 93.17% → 67.84% pre-issue → post-issue
- ISIN
- INE0D7801012
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Beeline Broking Ltd.
- Registered office
- House No.100, First Floor, Ward No.23, Infront of Thane Ajak Civil Line Road, Madhya Pradesh
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 | 48,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹40
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,20,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,40,000 |
| S-HNI (max) | 8 | 24,000 | ₹9,60,000 |
| B-HNI (min) | 9 | 27,000 | ₹10,80,000 |
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.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| Market cap | — | ₹11.92 Cr |
About MRP Agro SME
MRP Agro Limited, incorporated on April 13, 2018 and converted to a public company in September 2020, operates as an agro-commodity trading company. The company purchases food grains (urad pulse, urad, wheat, almonds, soyabean), coal, and fly-ash through local mandis and government auctions, then supplies these products to wholesalers, food companies, and processors after quality testing and packaging. The business operates on a B2B basis with a trading network spanning urban and rural areas. The company is promoted by Mr. Manish Kumar Jain, Mrs. Raksha Jain, and Manish Kumar Jain (HUF), with Mr. Jain having 10 years of industry experience. Revenue for FY 2019-20 was Rs 3,634.18 lakhs, declining to Rs 856.95 lakhs for the six-month period ending September 30, 2020.
Company Analysis
from RHPMRP Agro Limited trades food grains, coal, and fly-ash domestically and internationally with a working capital-intensive business model and B2B distribution network.
MRP Agro Limited, incorporated on April 13, 2018 and converted to a public company in September 2020, operates as an agro-commodity trading company. The company purchases food grains (urad pulse, urad, wheat, almonds, soyabean), coal, and fly-ash through local mandis and government auctions, then supplies these products to wholesalers, food companies, and processors after quality testing and packaging. The business operates on a B2B basis with a trading network spanning urban and rural areas. The company is promoted by Mr. Manish Kumar Jain, Mrs. Raksha Jain, and Manish Kumar Jain (HUF), with Mr. Jain having 10 years of industry experience. Revenue for FY 2019-20 was Rs 3,634.18 lakhs, declining to Rs 856.95 lakhs for the six-month period ending September 30, 2020.
Objects of the Issue
- To Meet Working Capital Requirement 250.00 lakhs p.67
- General Corporate Expenses 53.00 lakhs p.67
- Public Issue Expenses 21.00 lakhs p.67
Issue Structure
- Total Issue
- 324.00 lakhs
- Fresh Issue
- 810,000 equity shares
- Price Band
- Fixed price of Rs 40 per share
- Face Value
- Rs 10 per share
Business Model
The company operates on a B2B trading model. It purchases food grains, coal, and fly-ash through local mandis (agricultural markets) via auctions and government departments, conducts quality testing using dedicated machines and equipment, packages the products in fixed weights per customer demand, and distributes them through a network of wholesalers, food manufacturers, processors, and retailers. The business is working capital-intensive, dependent on managing inventory and trade receivables effectively.
Business Segments
SWOT Analysis
- • Compliance with quality standards and stringent quality control procedures(p.84)
- • Extensive distribution network spanning urban and rural markets(p.84)
- • Experienced promoter with 10 years in the business(p.84)
- • Order-driven, scalable business model(p.84)
- • Heavy dependence on a limited customer base(p.24)
- • Working capital intensive business with high inventory and receivables(p.20)
- • Very limited operating experience since incorporation in 2018(p.21)
- • Limited recognition in new markets and geographic concentration(p.21)
- • Lack of long-term contracts with customers(p.23)
- • Expansion into neighboring states with large growth potential(p.85)
- • Growing Indian retail and agro-commodity market(p.82)
- • Opportunity to leverage experience and relationships for market expansion(p.84)
- • Highly competitive and fragmented agro-trading industry(p.89)
- • Seasonal nature of agricultural business affecting revenue unpredictability(p.28)
- • Dependence on suppliers and vulnerability to supply chain disruptions(p.22)
- • Fluctuations in commodity prices affecting profitability(p.14)
- • Regulatory changes and compliance requirements in food and agro sector(p.33)
- • Impact of COVID-19 pandemic on trading operations(p.24)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Manish Kumar Jain | Promoter | 23.67% | 17.24% |
| Mrs. Raksha Jain | Promoter | 25.37% | 18.47% |
| Manish Kumar Jain (HUF) | Promoter | 6.78% | 4.93% |
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.