The Initial public offering(IPO) for the week is-
Ambo Agritec Limited-
Ambo Agritec Limited was founded in 1994 and is engaged in the business of manufacturing biscuits and outsourced manufacturing of edible oils, vanaspati, and Bengali specialty products. In addition to this, the company also trades in crude linseed oil and soya bean meal. The company uses the raw material of premium quality sourced from reputed local suppliers for biscuits, and raw materials imported for edible oils and this helps it to maintain the quality of its products.
The state-of-the-art manufacturing plant for biscuits is located at Mangalpur Industrial Estate, Raniganj, West Bengal. It is equipped with machinery and other equipment to help the smooth manufacturing process. The products are marketed under the brand names ‘Happy bites’ for biscuits, ’Happy Heart’ for edible oil, ‘Ambo Gold’ and ‘Vanaspati 2000’ for vanaspati, and ‘Max Health’ for Bengali specialty products. For the outsourced model through third parties on a job contract basis, the company provides raw materials to them and procures finished products under the brand name, with specialized manufacturing equipment obtained from national suppliers.
The promoter of the company is Mr. Umesh Kumar Agarwal. The objectives of the issue are to meet working capital requirements, issue expenses, and general corporate purposes. Listing would enhance the company’s corporate image and brand name and make future financing easier.
The company had revenues of Rs 74.28 crore with a profit of 31.99 lakhs (Year ended March 31, 2020), revenues of Rs. 47.17 crores with a profit of Rs. 19.11 lakhs (Year ended March 31, 2021), and revenue of Rs. 94.85 crores with a net profit of Rs. 1.19 crore (Year ended March 31, 2022).
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