Incorporated in 2000, TBI Corn Limited is a manufacturer and exporter of Corn Meal Grits. The Company is ISO 9001:2015 and ISO 22000:2018 certified.
The company specialize in producing high-quality Corn/Maize Grits and related products in the Sangli district of Maharashtra, India.
The company sells various products, including fat-free corn grits/meals, corn flakes, stone-free broken maize and corn flour, and turmeric finger.
All products are made without chemical additives or preservatives and are GMO-free.
The company exports its products to various countries such as Dubai, Oman, Jordan, South Africa, and Vietnam.
As of 31st December 2023, the company has a total of 48 employees
| Purpose | Amount (₹ Cr) |
|---|---|
| Expansion of Existing Unit; | — |
| To Meet Incremental Working Capital Requirement; | — |
| General Corporate Purpose | — |
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Total Assets | 9,512 | 12,162 | 4,318 |
| Revenue | 10,197 | 14,043 | 10,097 |
| PAT | 766 | 686 | 45 |
| Net Worth | 4,068 | 2,678 | 683 |
| Reserves | 2,730 | 1,677 | — |
| Total Borrowing | 5,137 | 6,353 | 2,549 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 2,265,600 (47%) | — |
| NII / HNI | — | 682,800 (14%) | — |
| Retail (RII) | — | 1,592,400 (33%) | — |
| Market Maker | — | 240,000 (5%) | — |
| Total | — | 4,780,800 (100%) | — |
* Amount calculated at upper price band (₹94) · ** Total includes all investor categories
- 1 Initiation of Refund 06 Jun 2024
- 2 Credit of Shares to Demat 06 Jun 2024
- Retail allocation is good at 33% of the total offering.
- HNI/NII demand is good at 14%.
- Institutional (QIB) interest is strong at 47%.
- The IPO P/E of 17x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹5 compares to post-issue EPS of ₹6 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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