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Business News/ Markets / Ipo/  TGIF Agribusiness share price makes a bumper debut, stock opens with 61% premium at 150 on BSE SME
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TGIF Agribusiness share price makes a bumper debut, stock opens with 61% premium at ₹150 on BSE SME

TGIF Agribusiness share price impressively debuted at ₹150 on BSE SME, reflecting a 61.29% increase from the issue price of ₹93.

TGIF Agribusiness share price lists on BSE SME today. (https://tgifagri.com/)Premium
TGIF Agribusiness share price lists on BSE SME today. (https://tgifagri.com/)

TGIF Agribusiness share price made a bumper debut on BSE SME today. TGIF Agribusiness share price opened at 150, which is 61.29% higher than the issue price of 93. However, after a positive debut, the stock was locked in 5% lower circuit. 

TGIF Agribusiness IPO opened for subscription on Wednesday, May 8, and closed on Friday, May 10. The issue's price band was fixed at 93 per share. The IPO lot size for TGIF Agribusiness was 1,200 shares.

Also Read: TGIF Agribusiness IPO allotment to be out today; latest GMP, steps to check status

The company is essentially a horticultural business that engages in open farming of specific fruits and vegetables, as stated in the prospectus. The farmland owned by the corporation spans more than 110 acres and is located close to three villages: Ajari, Kasindra, and Kojra. These villages are all part of the Pindwara tehsil in the district of Sirohi, Rajasthan.

As stated in the prospectus, the company's (P/E of 13.57) listed peers are Raghuvansh Agrofarms Ltd (with a P/E of 110.74), and Bangalore Fort Farms Ltd (with a P/E of 59.92).

Between March 31, 2022, and March 31, 2023, TGIF Agribusiness Limited's profit after tax (PAT) climbed by 12.63% and its revenue increased by 12.14%.

TGIF Agribusiness IPO details

TGIF Agribusiness IPO, worth 6.39 crore, consists of a fresh issue of 6,87,600 equity shares with a face value of 10. There is no offer-for-sale component.

The company intends to use the issue's proceeds for the following purposes: general corporate purposes, working capital requirements, and the purchase of irrigation systems and agricultural equipment.

The registrar for the TGIF Agribusiness IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Hem Securities Limited. Hem Finlease is the market maker for the TGIF Agribusiness IPO.

Also Read: TGIF Agribusiness IPO: Check GMP, subscription status on day 1, issue size, key details to know

TGIF Agribusiness IPO GMP today

TGIF Agribusiness IPO GMP today is +70. This indicates TGIF Agribusiness share price were trading at a premium of 70 in the grey market, according to investorgain.com.

When the upper end of the IPO pricing range and the present premium on the grey market are taken into consideration, it is projected that TGIF Agribusiness shares will list at a price of 163 a share, which is 75.27% more than the IPO price of 93.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Upcoming IPOs: 9 new public issues and 4 new listings scheduled for this week; check full list here

Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.

 

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Published: 15 May 2024, 10:04 AM IST
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