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Business News/ Markets / Ipo/  TBI Corn IPO price band set at 90-94 per share; issue to open on May 31
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TBI Corn IPO price band set at ₹90-94 per share; issue to open on May 31

The TBI Corn IPO price band has been fixed at ₹90 to ₹94 per share with a face value of ₹10 each, and the IPO lot size is 1,200 shares.

TBI Corn IPO is a book-built issue of ₹44.94 crore. Photo: iStock (iStock)Premium
TBI Corn IPO is a book-built issue of 44.94 crore. Photo: iStock (iStock)

TBI Corn IPO: TBI Corn's initial public offering (IPO), a book-built issue of 44.94 crore, is all set to open for subscription on Friday, May 31, 2024, and close on Tuesday, June 4, 2024. The SME IPO is entirely a fresh issue of 47.81 lakh shares.

The TBI Corn IPO price band has been fixed at 90 to 94 per share with a face value of 10 each, and the IPO lot size is 1,200 shares. Retail investors can buy one lot, with the minimum investment amount required for them being 1,12,800. The minimum lot size required for NIIs is two lots, amounting to 2,25,600.

Not less than 35 per cent of the net issue is reserved for retail investors, while not less than 15 per cent of the net issue is reserved for non-institutional investors (NIIs). The rest is for the QIBs.

Also Read: Upcoming IPOs: Five SME issues and two new listings scheduled for next week; check full list here

Swastika Investmart and Ekadrisht Capital Private Limited are the issue's book-running lead managers. Kfin Technologies Limited is the registrar for the TBI Corn IPO.

The allotment for the TBI Corn IPO is expected to be finalised on Wednesday, June 5, 2024. The tentative listing date of TBI Corn shares is Friday, June 7. The company's shares will be listed on NSE SME.

TBI Corn offers diverse products, including cleaned and fat-free corn grits, corn flakes, broken maize, corn flour and turmeric finger.

Also Read: Awfis Space Solutions IPO day 3: GMP, subscription status to review. Apply or not?

The company's key financial parameters have seen a gradual increase over the last few financial years.

The company's revenue for FY21, FY22, and FY23 stood at 66.96 crore, 100.97 crore, and 140.43 crore, respectively. In FY24, until September 30, 2023, the company earned revenue of 71.20 crore.

The company's profit after tax (PAT) for FY21, FY22 and FY23 stood at 23.93 lakh, 45.16 lakh and 6.86 crore, respectively. In FY24, until September 30, 2023, the company earned a profit of 6.7 crore.

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Published: 27 May 2024, 01:59 PM IST
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