TGIF Agribusiness Limited IPO

TGIF Agribusiness Ltd. (TAL) is primarily a horticulture company engaged in open farming of certain fruits and vegetables. Its farmland is spread over an area of over 110 acres and is situated in the vicinity of three villages i.e. Ajari, Kasindra and Kojra, all of which are located in the tehsil of Pindwara, district Sirohi, Rajasthan. It has obtained all farm lands on lease basis from promoters. The company is mainly engaged in the farming of pomegranate which contribute to more than 95% of its revenue from operations. TGIF Agribusiness IPO is a fixed price issue of Rs 6.39 crores.

The issue is entirely a fresh issue of 6.88 lakh shares.TGIF Agribusiness IPO opens for subscription on May 8, 2024 and closes on May 10, 2024. TGIF Agribusiness IPO price is ₹93 per share. The minimum lot size for an application is 1200 Shares. Hem Securities Limited is the book running lead manager of the TGIF Agribusiness IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for TGIF Agribusiness IPO is Hem Finlease.

The company was founded in 2014, TGIF Agribusiness Limited, previously known as ARV Farmpro LLP, is active in the open field cultivation of fruit and vegetable varieties. TGIF is engaged in the cultivation of pomegranates, dragon fruit and timber plantations, i.e. sagwan trees. The company also grows and harvests seasonal vegetables and fruits such as lemons, watermelons and chilies. The company's farmlands are located in Ajari, Kasindra and Kojra in Rajasthan and cover an area of over 110 acres. The land has been leased from Niraj Chhaganraj Gemawat (promoter), Rachna Gemawat (promoter), Niraj Chhaganraj Gemawat HUF and Vipin Moharir. The company sells most of its products through a B2B business model to retailers, wholesalers, retail chains, hypermarkets and mandis. The company also plans to sell its products directly to customers through a B2C model called Direct2home Service. Apart from the farming of pomegranate it is also engaged in the farming and cultivation of dragon fruits and Sagwan trees. In the last three financial years, it has also gown and harvested lemon, water melon and chilly.