About the Company:
Vishwas Agri Seeds Ltd is in the business of processing quality seeds and supplying to farmers via there distribution network. Company sells its seeds under the brand name “Vishwas“.
As of March 31, 2023, Company produced seeds for more than 40 different field crops, vegetables and have the presence of our products in the stage of Gujarat, Maharashtra, Rajasthan.
Company’s product portfolio includes crop seeds for Groundnut, Soyabin, Wheat, Cumin, Green Gram, Black Gram Research Hybrid seeds for Cotton, Castol, Pearl Millet, Maize, hybrid vegitable seeds Chilli, Tomato, Brinjal, Watermelon, Sweet Corn, cabbage, Onion, Coriander Seeds, Fenugreek, Mustard, Lucern, Carrot, etc.
Company also run a youtube channel named “VishwasSeeds” with the objective to spread awarness about our products and interact with local farmers for knowledge transfer.
Company’s seeds processing unit is equipped with optical sorting machine, they detect unwanted colours, subtle discoloration, size and shape defects, and foreign materials.
Company is involved in each stage of seed processing ecosystem which unclues contracting with farmers to germinate seed plants.
Company has dedicated staff for inspecting the seed plant in the felds to ensure quality of seeds and further processing the seeds and packing & storing of seeds.
Company has identified land parcel of 14,000 square feet within our Seed processing unit in Ahmedabad where we grow sample seeds and monitor its growth which helps us in adding differents in our products.
Company’s History:
Initially company started seeds processing unit at Gondal, Rajkot, Gujarat, India. Company ceased its operations in Rajkot Unit in June 2023 to migrate in its own larger facility in Ahmedabad.
In July 2023, Company started commercial operations of seed processing unit along with Warehouse & Cold storage facility at Village: Bhayla, Taluka: Bavla, District: Ahmedabad, Gujarat.
The said processing unit, equipped with modern technology is spread across 5 acres. Company has availed term loan of Rs. 11.51 Crores from HDFC bank via sanction letter dated June 22, 2022 to construct the factory shed, to built Cold Storage, Warehouse and Machinery of seed processing unit.
The said unit also equipped with warehousing for storing 4200 MT (Metric ton) capacity of stock and cold storage facility to store 3000 MT of stock.
Further, the company is in process of setting up its own corporate office building within the premise of the said seed processing unit.
Company is also planning to setup an in-house seed testing Laboratory which will help company to improve the quality of existing products and come with new products and its variants.
Following is the list of state wise Number of Distributors:
Management Team:
- Mr.Ashokbhai Shibabhai Gajera (Designation: Managing Director)
- Mr. Dineshbhai Madhabhai Suvagiya (Designation: Executive Director & CFO)
Objectives of the Issue:
Fresh Issue: (Rs.25.8 cr)
- (a) Capital Expenditure to:
To Furnish the Corporate Office building.
To purchase Equipments for setting up Seed Testing laboratory.
To set-up Greenhouse (Fan-Pad System).
To install Roof Top Solar Monocrystalline Panels (129.6KW). - (b) Aditional Working Capital Requirement.
- (c) General Corporate Purpose.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| (A) Capital expenditure | |
| i). To Furnish the Corporate Office building | 4.0 cr |
| ii). To purchase Equipments for setting up Seed Testing laboratory | 1.5 cr |
| iii) To set-up Greenhouse (Fan-Pad System). | 1.5 cr |
| iv) To install Roof Top Solar Monocrystalline Panels (129.6KW) | 0.60 cr |
| (B) Additional Working Capital Requirement | 11.0 cr |
| (C) General Corporate Purpose | 5.30 cr |
| Net Proceeds | 23.90 cr |
Positives for the Company:
Integrated Seed procssing unit with coldstorage and warehouse facility in one premise.
- Company’s seeds processing unit is equipped with automated seed sorting, grading and packing machines, the seeds processing facility includes warehousing and cold storage facility to store seeds.
- The integrated seeds processing unit with required storage infrastructure to store the seeds helps company to meet the demand as per the sowing season.
Wide range of products backed by consistant quality.
- Company offers a wide range of seeds that includes Groundnut, cotton, Wheat, Cumin, Onion, Coriander, Mustard and corn etc. We continusly add new product variants which help us to cater the needs of our customers.
- Company is in process to setup inhouse seed testing laboratory within the premise of our unit which will help company to develop new variants of seeds and ensure quality of our seeds.
Company Owns a Modern Automated seed processing unit at Bhayla, Ahmedabad, Gujarat.
- Company has its own automated seed processing unit located at Bhayla Ahmedabad, The said unit is spread over 4 acres of land.
- Company has built Warehouse & Cold storage facility to store seeds within the premise of unit at Bhayla Ahmedabad.
- With a large capacity to store the seeds in our warehouse and further process and pack the seeds during the sowing season company holds an advantage over compititors to supply proudcts to end user farmer quickly via established distribution network.
Distribution network spread across western part of India.
- With over 14 years of process in the seeds business, Company’s Brand name “Vishwas” enjoys a strong presence in the market.
- Over the years company has developed network of distributors which are located acrocess the state of Gujarat, Rajashtan and Madhyapradesh.
- Company has a network of over 780 distributors which gives us a strong presence in the market. Company has a sales and marketing team of about 18 employees who are responsible to devlop new distributors and also to cater the needs of the existing distributors.
Financials of the Company:
| (in Crores) | FY 21 | FY 22 | FY 23 | Upto 30th Sept 23 |
|---|---|---|---|---|
| Revenue | 53.82 | 64.85 | 65.32 | 42.47 |
| Net Profit | 1.16 | 2.47 | 5.34 | 4.51 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Vishwas Agri Seeds Ltd | 10 | 16.98 | 5.06 | 37.28% | 20.47 |
| Bombay Super Hybrid Seeds Ltd | 1 | 1.61 | 128.79 | 19.44% | 5.37 |
| Kaveri Seed Company Ltd | 2 | 46.35 | 14.81 | 18.58% | 245.6 |
| Upsurge Seeds of Agriculture Ltd | 10 | 7.18 | 43.93 | 12.28% | 54.91 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 21st March 2024 |
| Issue Closes on | 26th March 2024 |
| Issue Price | Rs.86 |
| Face Value | Rs.10 |
| Minimum Lot | 1600 Shares |
| Minimum Investment | Rs. 1,37,600 |
| Issue Constitutes | 30 % |
| Issue Size | Rs. 25.8 cr |
| Market Cap | Rs. 86 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 30,00,000 (Rs.25.8 cr) |
| Equity Shares Prior to the Issue | 70,00,000 |
| Equity Shares after the Issue | 1,00,00,000 |
Also Read : List of Upcoming IPO’s in India.
Also Read: List of Upcoming SME IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 27th March 2024 |
| Initiation of Refunds | on or Before 28th March 2024 |
| Credit of Equity Shares: | on or Before 28th March 2024 |
| Listing Date: | on or Before 1st April 2024 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 16.98 | 5.06 | 37.28% | 20.47 |
| Company Contact Info: |
|---|
| Vishwas Agri Seeds Ltd Near Toll Tax, S. No. 460, Gangad Road, Bhayla, Ahmedabad, Bavla, Gujarat, India. – 382220 Telephone: Tel No.: +91 6535709174 Email ID: cs@vishwasagriseeds.com Website: www.vishwasagriseeds.com |
| Registrar to the Issue: |
|---|
| BIGSHARE SERVICES PVT. LTD 1st Floor, Bharat Tin Works Building, Opp. Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400 059 Tel No.: +91 – 22 – 62638200 Email:ipo@bigshareonline.com; Website: www.bigshareonline.com |
| Lead Manager to the Issue: |
|---|
| ISK ADVISORS PRIVATE LIMITED 501, A. N. Chambers, 130, Turner Road, Bandra West, Mumbai-400 050 Tel No.: +91 – 22 – 26431002 Email: ncmpl@ncmpl.com Website: www.iskadvisors.com |
| Check IPO Allotment Status: |
|---|
Bigshare: http://www.bigshareonline.com/IPO/Allotment
|
