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White Organic IPO is a fixed price issue of Rs 15.46 crores.
White Organic IPO bidding started from April 26, 2019 and ended on May 2, 2019. The allotment for White Organic IPO was finalized on Tuesday, May 7, 2019. The shares got listed on BSE SME on May 10, 2019.
White Organic IPO price is ₹63 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹126,000.
Finshore Management Services Limited is the book running lead manager of the White Organic IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to White Organic IPO RHP for detailed information.
| IPO Date | April 26, 2019 to May 2, 2019 |
| Listing Date | May 10, 2019 |
| Face Value | ₹10 per share |
| Price | ₹63 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,454,000 shares (aggregating up to ₹15.46 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 3,000,000 |
| Share holding post issue | 5,454,000 |
| Market Maker portion | 124,000 shares |
White Organic IPO offers 2,454,000 shares. 1,165,000 (47.47%) to NII, 1,165,000 (47.47%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 124,000 (5.05%) |
| Other Shares Offered | 1,165,000 (47.47%) |
| Retail Shares Offered | 1,165,000 (47.47%) |
| Total Shares Offered | 2,454,000 (100%) |
White Organic IPO opens on April 26, 2019, and closes on May 2, 2019.
| IPO Open Date | Friday, April 26, 2019 |
| IPO Close Date | Thursday, May 2, 2019 |
| Basis of Allotment | Tuesday, May 7, 2019 |
| Initiation of Refunds | Wednesday, May 8, 2019 |
| Credit of Shares to Demat | Thursday, May 9, 2019 |
| Listing Date | Friday, May 10, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 2, 2019 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹126,000 |
| Retail (Max) | 1 | 2000 | ₹126,000 |
| Lot Size Calculator | |||
Mr. Prashant Mahesh Rupani, Darshak Mahesh Rupani and White Organic Agro Ltd are the promoters of the company.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 55.01% |
Incorporated in 2011, Mumbai based White Organic Retail Ltd is engaged in the trading of agriculture products such as Vegetables, Fruits, Grains, Pulses, and Cereals. Initially, before Sept 2016, the company was named as Sapna Infraventure Private Limited and involved in Real Estate Development Activity. In Oct 2016, the company started retailing and distribution operations of Organic Products. It had a store for the commercial operation at Chembur, Mumbai which is closed now. Although, the company is about to open the new store at Bhandup (West), Mumbai.
Future Plans:
The company has future plans to expand distribution and retail network, which are as follow:
1. It is planning to establish more than 40 retail outlets.
2. The company will launch new products such as Aloe Vera Juices, Incence Sticks, Aloe Vera Gel, Soap, Mukhwas, Health Powders, Syrups, Churans, Snacks, Sweetners, Cow Ghee, Jaggery, Beauty Products, etc.
3. It is also looking to introduce the capsule range of Jvara, Haldi, Amla, etc; and medicinal powders of Rasayan, Moringa, Ashwagandha, Gokharu, etc.
4. The management of the company is also looking to introduce eCommerce website and mobile application soon.
5. White Organic Retail Ltd also has plans to start export operations in future.
The competitive strengths of the company are:
1. A strong client base
2. Wide product range
3. Effective supplier relationship
| Particulars | For the year/period ended (in Rs. Lakhs) | ||||
|---|---|---|---|---|---|
| 31-Dec-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | ||
| Total Assets | 6,022.65 | 5,017.40 | 1,447.81 | 1,276.55 | |
| Total Revenue | 11,549.52 | 8,292.76 | 142.62 | - | |
| Profit After Tax | 450.78 | 302.45 | 58.68 | 23.90 | |
The Objects of the Issue are:
1. To meet the working capital requirements of the company
2. To meet the Issue Expenses
3. General Corporate Purposes
[Dilip Davda]
Based on the financial parameters and recent performance, the issue appears attractively priced. Super performance for FY18 and 9MFY19 raises eyebrows. Group's tendency to change business model raises concern. Considering future plans, investors may consider investment for the long term.
Read detail review...The White Organic IPO is subscribed 1.36 times on May 2, 2019 6:49:00 PM. The public issue subscribed 0.70 times in the retail category, times in the QIB category, and 2.02 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.02 |
| Retail | 0.70 |
| Total | 1.36 |
| Listing Date | May 10, 2019 |
| BSE Script Code | 542667 |
| NSE Symbol | |
| ISIN | INE06CG01019 |
| Final Issue Price | ₹63 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹63.00 |
| ₹64.20 |
| ₹64.00 |
| ₹64.45 |
| ₹64.30 |
White Organic Retail Limited
312A, Kailas Plaza, Vallabh Baug Lane,
Ghatkopar (East), Mumbai,
Mumbai City, India, 400077
Phone: 022 25011983
Email: info@whiteorganics.co.in
Website: http://www.whiteorganics.co.in/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: worl.ipo@linktime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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White Organic IPO is a SME IPO of 2,454,000 equity shares of the face value of ₹10 aggregating up to ₹15.46 Crores. The issue is priced at ₹63 per share. The minimum order quantity is 2000 Shares.
The IPO opens on April 26, 2019, and closes on May 2, 2019.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
The White Organic IPO opens on April 26, 2019 and closes on May 2, 2019.
White Organic IPO lot size is 2000 Shares, and the minimum amount required is ₹126,000.
You can apply in White Organic IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for White Organic IPO will be done on Tuesday, May 7, 2019, and the allotted shares will be credited to your demat account by Thursday, May 9, 2019. Check the White Organic IPO allotment status.
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