Home » Initial Public Offerings(IPO) for the week.

Initial Public Offerings(IPO) for the week.

Initial Public Offerings(IPO) for the week.

The Initial Public Offerings(IPO) for the week are-

Tapi Fruit Processing Limited-

Tapi fruit processing was started in the year 1999. Over the years the company has developed product innovation capabilities, a distribution network, and manufacturing facilities. The products of the company consist of-

  • Candied, crystallized, and glazed fruit and vegetable products made out of 100% fruits and vegetables cooked in sugar syrup and include tooty fruity, karonda cherry, amla candy, etc.
  • Fruit bar, jellied, fruit jam, and fruit leathers. The products under this category include mango fruit rolls, tamarind bars, etc., and fruit jellies made from sugar, and glucose along with fruit pulps with added flavors and colors. The products also include jelly balls, fruit bears, fruit jelly pops, jams, fruit katli, jelly cubes, and also fruit jam made from sugar, glucose, and pectin.
  • Chutney and sauces made from tomato paste are sold under the brand ‘Tapi.’
  • Under the beverages category, the products of the company include fruit crush and fruit syrups.
  • The company also manufactures herbal base nutraceutical products such as gummies, fortified with minerals like functional food. These products are available as vitamin gummies.

The promoters of the company are Mr. Ghanshyambhai Laljibhai Lukhi and Mr. Ashokkumar Laljibjhai Lukhi. The objects of the issue are to meet the incremental working capital requirements, repayment of certain borrowings, and general corporate purposes. Listing would enhance the brand image of the company.

The company had revenues of Rs 11.45 crore with a net loss of 86 lakhs (Year ended March 31, 2020), revenues of Rs. 13.12 crores with a profit of Rs. 10 lakh (Year ended March 31, 2021), and revenue of Rs.15.22 crores with a net profit of Rs.15.6 lakh (Year ended March 31, 2022).

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Harsha Engineers International Limited-

Harsha Engineers International limited is the largest manufacturer of precision bearing cages in the organized sector in India and among the leading manufacturers of precision cages in the world. It offers a diversified suite of precision engineering products across geographies and its business comprises –

  • Engineering business under which it manufactures bearing cages ( brass, steel, and polyamide materials), complex and specialized precision stamped components, welded assemblies, brass castings, cages, and bronze brushings.
  • Solar EPC business under which it provides turnkey solutions to all the solar photovoltaic.

The company has approximately 50-60% of the market share in the organized segments of the Indian bearing cages market and 6.5% of the market share in the global organized bearing cages market for brass, steel, and polyamide cages. It offers a wide range of bearing cages starting from 20 mm to 2000 mm in diameter and the bearing cages find application in the automotive, railways, aviation and aerospace, construction, mining, agriculture, electrical and electronics, and renewable sectors.

The promoters of the company are Rajendra Shah, Harish Rangwala, Vishal Rangwala, and Pilak Shah. The company proposes to utilize the net proceeds of the issue towards funding the pre-payment or scheduled repayment of a portion of the existing borrowing availed by the company, funding capital expenditure requirements towards the purchase of machinery, infrastructure repairs, and renovation of the existing production facilities and general corporate purposes.

The company had revenues of Rs 885.8 crore with a net profit of 21.9 crores (Year ended March 31, 2020), revenues of Rs. 873.7 crores with a profit of Rs. 45.4 crores (Year ended March 31, 2021), and revenue of Rs.1321.4 crores with a net profit of Rs.91.9 crore (Year ended March 31, 2022).

Annapurna Swadisht Limited-

Annapurna Swadisht limited was incorporated in 2013 and is a manufacturer of snacks and food products namely fryums, cakes, candies, namkeen, chips and Gohona Bori. The key raw materials used for manufacturing include refined flour, palm oil, spices, and laminates. The company uses raw materials of premium quality sourced from reputed local suppliers in order to ensure the quality of the products.

Annapurna Swadisht is one of the largest FMCG players in Eastern India with the fastest growing segment in Fryums, cakes, candies, namkeen, and potato chips. It has a unique price point of Rs. 5 which makes it the dominant player in the rural areas and sells more than 12 lakh packets of its products daily. The company has a hub in Asansol and a manufacturing unit in Siliguri. The daily production capacity of the Asansol unit is 15 MT of Fryums whereas the daily production capacity of the Siliguri Manufacturing unit is 10 MT of Fryums.

The products of the company are marketed under their own brand names like Jackpot, Chatpata Moon, Balloon, Finger, Rambo, Makeup Box, Dhamaka, Phoochka, Jungle Adventures, Ringa, Bachpan Ka Pyaar, Kurchure, Cream Filled Cake Vanilla, Cream Filled Cake Orange, Cream Filled Cake Chocolate, Mixed Fruit Flavoured Cake, Chocolate Flavoured Sliced Cake, Pluss, Malai Pop, Imly Pop, Coconut Crunch, Kaju Candy, Coffico, Masala Teekha, Salted Chips, Paprika Spices, Tomatina Classic, American Cheese, Gram Gathiya, Gram Chana Jor, Crispy Diet Chidwa, Gram Bhawnagri Sev, Gram Badam Pokora and Gram Masala Muri.

The promoters of the company are Shreeram Bagla and Ritesh Shaw. The objects of the issue are to fund working capital requirements and general corporate purposes. Listing would enhance the brand image of the company.

The company had revenues of Rs 13.74 crore with a net profit of 31.29 lakhs (Year ended March 31, 2020), revenues of Rs. 20.29 crores with a profit of Rs. 51.13 lakhs (Year ended March 31, 2021), and revenue of Rs.61.04 crores with a net profit of Rs.2.4 crore (Year ended March 31, 2022).

Varanium Cloud Limited-

Varanium Cloud Limited is a fast-growing technology company that is focused on providing services in digital audio, video, and financial blockchain-based streaming services. It operates in–

  • Providing digital audio and video content streaming services to various content owners and telecom operators in India and internationally on a SaaS model.
  • Online payment facilitation services.
  • Providing low bandwidth digital education content platforms (Edtech) with learning management systems (LMS) focused on non-urban areas.
  • Provision of information technology-related services to startups and SMEs to help them transition their business to digital platforms and manage relevant infrastructure on Iaas.

Varanium has a transformative, transportation technology that delivers cloud content and services at low bandwidth thereby reaching large populations of the world that were previously underserved. The unique network transportation technology allows content to be delivered to end services faster and cheaper. The technology is completely device agnostic and can be delivered to any mobile device or screen, wired or wireless, agnostic of operating system or type of screen.

The promoter of the company is Harshwardhan Hanmant Sabale. The net proceeds of the issue would be utilized for setting up 3 Nos. containerized edge data centers, the rollout of 3 flagship digital learning centers, and general corporate purpose. Listing would enhance the brand image of the company.

The company had revenues of 12.44 lakhs with a loss of 1.48 crore (Year ended March 31, 2020), revenues of Rs.4.19 crore with a profit of Rs. 1.41 crore (Year ended March 31, 2021), and revenue of Rs.35.35 crore with a net profit of Rs. 8.40 crore (Year ended March 31, 2022).

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