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TBI Corn IPO – GMP, Details & Review

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TBI Corn Limited who offers a diverse range of products, including cleaned and fat-free Corn Grits/Meal, Corn Flakes, Stone-free Broken Maize & Corn Flour and Turmeric Finger, are raising ₹44.94 crores approximately through Initial Public Offerings (IPO). The IPO will be open from 31st May, 2024 and will close on 04th June, 2024. The IPO Price band is set to ₹94 and a retail investor can do minimum investment of ₹112,800 for a single lot of 1200 shares.

Company is ISO certified and they also hold certificates from MSME, APEDA, and are both Indian Organic and USDA Organic certified. They have successfully expanded into international markets, serving countries in the Gulf, Sri Lanka, Malaysia, Brunei, Vietnam, South Korea, and soon, Europe and the US.

They have dedicated teams for research and development, ensuring continuous innovation and strategic growth. TBI Corn Limited Company is also a trusted name in the corn milling industry, known for its commitment to quality, innovation, and international excellence. The company’s product range includes nutrient-packed maize flakes, versatile corn flour, essential corn grits and sustainable broken maize used primarily in animal feed.

TBI Corn IPO Important Dates And Prices

IPO Opening DateMay 31, 2024
IPO Closing DateJune 04, 2024
IPO Allotment DateJune 05, 2024
Date of Refund InitiationJune 06, 2024
Single Price₹94
Total Shares1200/Lot
Minimum Investment₹112,800
IPO ListingJune 07, 2024
Listing OnNSE SME

TBI Corn IPO Other Important Details

IPO Issue Size₹44.94 Crores
IPO Face Value₹10/Share
IPO Retail Percentage35%
IPO QIB Percentage50%
IPO NII Percentage15%
Retail Min. Investment (1 Lot)₹112,800 (1200 Shares)
Retail Max. Investment (1 Lot)₹112,800 (1200 Shares)
HNI Min. Investment (2 Lots)₹225,600 (2400 Shares)
IPO Mandate Last Date04 June, 2024 (Till 5 PM)
IPO RegistrarKFin Technologies Limited

TBI Corn IPO GMP (Grey Market Premium)

Day By Day analysis of TBI Corn Limited IPO GMP. IPO Grey Market Premium can increase or decrease depending upon the buyer interests.

DateGMP
As On 27-05-202450
As On 28-05-202455
As On 29-05-202465
As On 31-05-202470
As On 01-06-202480
As On 03-06-202484

TBI Corn Limited Promoters

  • Mr. Yogesh Laxman Rajhans (Chairman and Managing Director)
  • Smt. Asha Laxman Rajhans (Non-Executive Director)

Shareholding Pattern or Promoter Holding in TBI Corn IPO

Equity ShareholdingNo. of SharesPercentage of Shares
Pre Issue1,02,53,48176.65%
Post Issue[●]57.71%

TBI Corn Limited Qualities & Strength

  • Trusted manufacturer and exporter of corn-based products.
  • Enduring Values of the company & Management Team.
  • ISO 9001:2015 and ISO 22000:2018 Certified company.
  • Quality Assurance.
  • Along with associations in Domestic market, they also have International market presence.
IncorporationRegistered OfficeWebsiteIPO Doc
2000A5/3 & A5/4, MIDC, Miraj,
Tal- Miraj, Dist- Sangli 416
410, Maharashtra, India.
www.tbicorn.comRHP PDF

Objectives of the TBI Corn IPO Issue

TBI Corn Limited Company is going to use the funds in:

  • Expansion of Existing Unit – Company is planning to expand its production capacity and upgrade existing machinery. The main driver for this initiative is the growing dry milling industry, propelled by changing food consumption patterns and the increasing global population.
  • To Meet Incremental Working Capital Requirements
  • General Corporate Purposes.

In addition, company believes that listing will enhance their corporate image and visibility of brand name of Company. They also believe that their Company will receive the benefits from listing of Equity Shares on the Emerge Platform of NSE. It will also provide liquidity to the existing shareholders and will also create a public trading market for the Equity Shares of the Company.

Read More: Latest IPO GMP Today


TBI Corn IPO Review (May Apply)

FinancialsDecember 31st, 202331st March, 202321st June, 202231st March, 202231st March, 2021
EBITDA (₹ in Lakhs)1,394.761,137.32113.44314.20250.71
PAT (₹ in Lakhs)766.45637.1648.9345.1623.93
EBITDA Margin (%)13.809.854.763.133.74
PAT Margin (%)7.595.522.050.450.36
ROE (%)18.8437.794.896.614.67
ROCE (%)18.6525.143.4710.398.19
EPS (in ₹)18.6311,365.72872.81805.53426.82
RONW (%)18.8437.974.896.614.67
  • TBI Corn Limited EBITDA increased from 1137 to 1,394.76 in last 9 Months.
  • EBITDA Margin% also increased from 9.85 to 13.80 which is a good sign.
  • But ROE % and ROCE % decreased in the last 9 Months. ROE% reduced from 38 to around 19% and ROCE % decreased from 25% to 18.65%.
  • RONW % is also reduced in the last 9 Months which is 19% approx. as compared to previous year of 38%.
  • Though Company’s stats are decreasing but from previous year stats we can say that company can boost again.

After thorough review of TBI Corn Limited Company Financial Stats of Previous Years, Our Review for this IPO is you May Apply For this IPO. TBI Corn Present Grey Market Premium is also good which indicates market strength of the company..


FAQ’s Related to TBI Corn IPO

  1. From Which Date TBI Corn IPO will open?

    TBI Corn IPO will open from Friday, 31 May, 2024.

  2. On which date TBI Corn IPO is going to List?

    TBI Corn Limited IPO is going to list on Friday, 07 June, 2024.

  3. What is the total issue size of TBI Corn IPO?

    TBI Corn IPO total issue size is approximately ₹44.94 Crores (4,780,800 Equity Shares)

  4. How many Shares are there in 1 Lot of TBI Corn IPO and what is the price of Single Share?

    There are 1200 Shares in 1 Lot of TBI Corn IPO and price of one is ₹94.

  5. Where is the headquarter of TBI Corn Company located?

    TBI Corn company headquarter or registered office is in Maharashtra, District – Sangli 416410, India.

  6. What is the date of initiation of refund of TBI Corn Limited IPO?

    TBI Corn Limited IPO Refund Initiation date is June 06, 2024.


How You Can Apply For TBI Corn IPO?

  • Before submitting an application for the TBI Corn Limited SME IPO, you must first open a DEMAT account.
  • You can open a DEMAT account online on your smartphone using apps like Groww, Paytm Money, Angel One, Upstox, and Zerodha.
  • Open the app and select the IPO section after opening your DEMAT account.
  • Select the TBI Corn IPO and then click Apply to submit your request for a mandate.
  • Enter the number of shares or lot size you are interested in applying for, depending on which option is visible in your app.
  • Decide how much you want to bid after that, then apply for the IPO. It is recommended that you apply for your application at the cutoff price or the maximum price of the price band.
  • Click “Continue” after that. There will be a new screen asking for your UPI ID to be added. Enter your UPI ID there.
  • After submitting an IPO application, you will shortly see a mandate request on your UPI platform. It may even take an hour on rare occasions. So, please be patient and don’t worry.
  • Once a mandate has been obtained, click Accept Mandate in the UPI App. Next, type the mandate amount and your UPI Pin, then hit Enter.
  • When the mandate is approved, The IPO Amount will be held by the Bank until the day that refunds start.
  • If you are allotted shares of TBI Corn initial public offering (IPO) on Wednesday, June 5, 2024, the funds will be permanently taken out of your bank account.

Are you going to apply for the TBI Corn initial public offering? Please feel free to leave your comments in the space provided below! Your comments can benefit other users as well. Keep Reading & Keep Investing !!

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