The Initial Public Offering(IPO) for the week is-
Healthy Life Agritec Limited-
Healthy Life Agritec limited was incorporated in November 2019 and is engaged in the business of trading raw milk in the state of Maharashtra and live chicken and agro products in the states of Maharashtra and Karnataka. The company procures raw cow milk from farmers in Maharashtra and the direct procurement model enables it to control costs and ensure the quality of the raw milk procured. It has engaged procurement partners to coordinate the milk procurement process with milk farmers and supply raw milk to milk wholesalers in Maharashtra.
It also procures poultry from poultry growers in Maharashtra and Karnataka and supplies poultry to chicken wholesalers in the states of Maharashtra and Karnataka. In 2021-22 the company sold 39.20 liters of raw cow milk and 7.69 lakh Kgs of live chicken which contribute approximately 60.05% and 39.95% of the revenues of the company.
The objects of the issue are to meet the working capital requirements and general corporate purpose. Listing would enhance the brand name and image of the company. The promoters of the company are Ms. Divya Mojjada and M/s. Cronosglobal Investments and Holdings Private Limited.
The company had revenues of Rs 4.11 crore with a net profit of 6.50 lakh (Year ended March 31, 2021) and revenues of Rs. 26.15 crores with a profit of Rs. 76.15 lakh (Year ended March 31, 2022).