Raajmarg Infra Investment Trust IPO...
05 Mar, 2026
TBI Corn Limited IPO
TBI Corn Company, an ISO 9001:2015 and ISO 22000:2018 certified company, is a prominent player in the corn milling industry. Located in the Sangli district of Maharashtra, India, they specialize in the production of high-quality Corn / Maize Grits and related products. They named their venture “The Best India” with the vision of shining as a symbol of beautiful India. The Company offers a diverse range of products, including cleaned and fat-free Corn Grits/Meal, Corn Flakes, Stone-free Broken Maize & Corn Flour and Turmeric Finger, all manufactured without chemical additives or preservatives and GMO-free. TBI Corn IPO is a book-built issue of Rs 44.94 crores.
The issue is entirely a fresh issue of 47.81 lakh shares. TBI Corn IPO opens for subscription on May 31, 2024 and closes on June 4, 2024. The allotment for the TBI Corn IPO is expected to be finalized on Wednesday, June 5, 2024. TBI Corn IPO price band is set at ₹90 to ₹94 per share. The minimum lot size for an application is 1200 Shares. Swastika Investmart Ltd and Ekadrisht Capital Private Limited are the book running lead managers of the TBI Corn IPO, while Kfin Technologies Limited is the registrar for the issue.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
TBI Corn Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
TBI Corn Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | May 31, 2024 to June 4, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹90 to ₹94 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 4,780,851 shares (aggregating up to ₹44.94 Cr) |
| Fresh Issue | 4,780,851 shares (aggregating up to ₹44.94 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 13,377,605 |
| Share holding post issue | 18,158,456 |
TBI Corn Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Friday, May 31, 2024 |
| IPO Close Date | Tuesday, June 4, 2024 |
| Basis of Allotment | Wednesday, June 5, 2024 |
| Initiation of Refunds | Thursday, June 6, 2024 |
| Credit of Shares to Demat | Thursday, June 6, 2024 |
| Listing Date | Friday, June 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 4, 2024 |
TBI Corn Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹112,800 |
| Retail (Max) | 1 | 1,200 | ₹112,800 |
| HNI (Min) | 2 | 2,400 | ₹225,600 |
TBI Corn IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
TBI Corn Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 76.65% | 57.71% |
Company & Financials
Incorporated in 2000, TBI Corn Limited is a manufacturer and exporter of Corn Meal Grits. The Company is ISO 9001:2015 and ISO 22000:2018 certified. The company specialize in producing high-quality Corn/Maize Grits and related products in the Sangli district of Maharashtra, India. They have expanded to multiple units in MIDC Miraj, occupying a total area of 15,812 SQ MT (1,70,200 Sq. ft.) and equipped with modern machinery. The company sells various products, including fat-free corn grits/meals, corn flakes, stone-free broken maize and corn flour and turmeric finger. All products are made without chemical additives or preservatives and are GMO-free. The company exports its products to various countries such as Dubai, Oman, Jordan, South Africa and Vietnam.
Competitive Strength:
- -
TBI Corn Limited IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 9,963.40 | 7,120.28 | 666.75 | 3,964.81 | - | 5,140.73 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 12,162.04 | 14,042.63 | 686.09 | 2,677.81 | - | 6,352.82 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 4,317.63 | 10,097.26 | 45.16 | 683.24 | - | 2,549.48 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2021 | 4,254.86 | 6,776.38 | 23.93 | 512.42 | - | 2,300.94 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| - | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.13 | 7.34 |
| P/E (x) | 18.33 | 12.8 |
Objectives of TBI Corn IPO
The Issue Proceeds from the Fresh Issue will be utilized towards the following objectives:
- 1. Expansion of Existing Unit.
- 2. To Meet Incremental Working Capital Requirement.
- 3. General Corporate Purpose.
TBI Corn IPO Review
The company is operating in a highly competitive and fragmented segment of corn milling. It marked boosted growth for the last 21-month financial performance, which raised eyebrows and concern over its sustainability going forward. Based on FY24 annualized super earnings, the issue appears aggressively priced. Well-informed investors may park moderate funds for the medium term rewards.
RHP:
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Frequently Asked Questions (FAQs)
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What is the TBI Corn IPO?
TBI Corn IPO is an NSE SME IPO. They are going to raise ₹44.94 Crores via IPO. The issue is priced at ₹90 to ₹94 per equity share. The IPO is to be listed on NSE.
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When will the TBI Corn IPO open?
The IPO is to open on May 31, 2024 for QIB, NII, and Retail Investors.
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What is TBI Corn IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
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What is TBI Corn IPO Size?
TBI Corn IPO size is ₹44.94 crores.
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What is the TBI Corn IPO Price Band?
TBI Corn IPO Price Band is ₹90 to ₹94 per equity share.
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What is TBI Corn IPO Minimum and Maximum Lot Size?
The IPO bid is 1200 shares with ₹112,800.
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What is TBI Corn IPO Allotment Date?
TBI Corn IPO allotment date is June 5, 2024.
-
What is TBI Corn IPO Listing Date?
TBI Corn IPO listing date is June 7, 2024. The IPO to list on NSE SME.
