{"id":35802,"date":"2024-02-29T11:02:36","date_gmt":"2024-02-29T05:32:36","guid":{"rendered":"https:\/\/thedailymetro.in\/index.php\/2024\/02\/29\/m-v-k-agro-food-product-limited-ipo-opens-on-february-29-2024\/"},"modified":"2024-02-29T11:02:36","modified_gmt":"2024-02-29T05:32:36","slug":"m-v-k-agro-food-product-limited-ipo-opens-on-february-29-2024","status":"publish","type":"post","link":"https:\/\/thedailymetro.in\/index.php\/2024\/02\/29\/m-v-k-agro-food-product-limited-ipo-opens-on-february-29-2024\/","title":{"rendered":"M.V.K Agro Food Product Limited IPO Opens on February 29, 2024"},"content":{"rendered":"
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Issue Size \u2013 54,90,000 Equity Shares of \u20b9 10 each, Issue Size \u2013 \u20b9 65.88 Crores, Issue Price \u2013 \u20b9 120, Lot Size \u2013 1,200 Equity Shares<\/p>\n

Mumbai (Maharashtra) [India], February 29<\/strong>:\u00a0M.V.K. Agro Food Product Limited, specializing in sugar production, by-products utilization, and power generation based in Nanded District, Maharashtra, has announced its plan to go public with an Initial Public Offering on February 29, 2024. The company is aiming to raise\u00a0\u20b9\u00a065.88 Crore through this IPO, with shares set to be listed on the NSE Emerge platform.<\/p>\n

The issue size is Up to\u00a054,90,000\u00a0equity shares at face value of\u00a0\u20b9\u00a010 each.\u00a0<\/p>\n

Equity Share Allocation<\/strong><\/p>\n

-Non-Institutional Investors (NII) \u2013\u00a0Up To\u00a026,07,600\u00a0Equity Shares<\/p>\n

-Retail Individual Investors (RII) \u2013\u00a0Up To\u00a026,07,600\u00a0Equity Shares<\/p>\n

-Market Maker \u2013\u00a0Up To\u00a02,74,800 Equity Shares<\/p>\n

The net proceeds from the IPO will be utilized for setting up a greenfield unit in Nanded, Maharashtra, for (i) manufacturing Ethanol and (ii) generation and bottling of Bio-CNG and Fertilizer, as well as for general corporate expenses.\u00a0The Issue closes on 04th\u00a0March 2024.<\/p>\n

The Lead Manager to the Issue\u00a0is\u00a0Horizon Management Private Limited. The Registrar to the Issue is\u00a0MAS Services Limited.<\/p>\n

Mr.\u00a0Marotrao Vyankatrao Kawale, Managing Director of M.V.K Agro Food Product Limited\u00a0expressed, \u201cI\u2019m pleased to announce our decision to go public with this IPO. It marks a significant step forward in our company\u2019s growth, reflecting our commitment to innovation and expansion. Since our establishment in 2018, M.V.K Agro has been dedicated to revolutionizing the agricultural industry, starting with our focus on sugar production and expanding into the utilization of by-products and power generation.<\/p>\n

The utilization of net proceeds from this IPO is towards setting up a greenfield unit in Nanded, Maharashtra, which will serve as a hub for manufacturing Ethanol, a sustainable alternative fuel, and for the generation and bottling of Bio-CNG and Fertilizer. With our dedication to sustainability, we look forward to creating value and contributing positively to the community and the environment.\u201d<\/p>\n

Mr. Narendra Bajaj, Director of Horizon Management Private Limited\u00a0said, \u201cWe are glad to be part of M.V.K Agro Food Product Limited\u2019s journey towards going public. M.V.K Agro\u2019s impressive track record in sugar production, and its strategic expansion into by-products utilization and power generation, underscores their commitment to sustainable growth and environmental responsibility. We are excited about the prospects and proud to be part of this transformative journey.\u201d<\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Issue Size \u2013 54,90,000 Equity Shares of \u20b9 10 each, Issue Size \u2013 \u20b9 65.88 […]<\/p>\n","protected":false},"author":1,"featured_media":35803,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[1337,1336],"class_list":["post-35802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release","tag-pr","tag-press-release"],"_links":{"self":[{"href":"https:\/\/thedailymetro.in\/index.php\/wp-json\/wp\/v2\/posts\/35802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedailymetro.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedailymetro.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedailymetro.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedailymetro.in\/index.php\/wp-json\/wp\/v2\/comments?post=35802"}],"version-history":[{"count":0,"href":"https:\/\/thedailymetro.in\/index.php\/wp-json\/wp\/v2\/posts\/35802\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thedailymetro.in\/index.php\/wp-json\/wp\/v2\/media\/35803"}],"wp:attachment":[{"href":"https:\/\/thedailymetro.in\/index.php\/wp-json\/wp\/v2\/media?parent=35802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedailymetro.in\/index.php\/wp-json\/wp\/v2\/categories?post=35802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedailymetro.in\/index.php\/wp-json\/wp\/v2\/tags?post=35802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}