Prime Fresh Limited , a company listed on the Bombay Stock Exchange (BSE), has received approval for listing 12,805 equity shares resulting from the conversion of warrants. This development marks a significant corporate action for the company, potentially impacting its shareholding structure and market presence.

Key Details of the Listing Approval

Conditions and Next Steps

The BSE has granted listing approval but has outlined specific conditions for trading approval:

Additional Documentation

Prime Fresh Limited must submit:

• Listing approval from the National Stock Exchange of India Ltd. (if applicable)
• Confirmation letters from NSDL/CDSL regarding:
  • Crediting shares to respective beneficiary accounts
  • Admitting the capital to the depository system
• Confirmation letters from NSDL/CDSL about lock-in of pre-preferential holding (if applicable)

Trading Approval Application

The company is required to apply for trading approval within seven working days from the date of receiving the listing approval.

Regulatory Compliance

Prime Fresh Limited must ensure compliance with Regulation 167 of SEBI (ICDR) Regulations and other SEBI specifications.

Shareholding Pattern Update

If the change exceeds 2% of the total paid-up share capital, the company must file an updated shareholding pattern in XBRL mode as per SEBI LODR Regulations, 2015.

Implications and Outlook

This listing approval represents a step forward in Prime Fresh Limited's capital structure evolution. The conversion of warrants to equity shares by promoters could signify their confidence in the company's prospects. However, the market impact will only be fully realized once trading approval is granted and the shares enter the market.

Investors and market participants should note that while listing approval has been granted, actual trading of these shares is subject to further regulatory steps and approvals. The company's ability to swiftly complete these requirements will be crucial in maintaining momentum from this corporate action.

As Prime Fresh Limited progresses through these regulatory steps, stakeholders will be keenly watching for any changes in the company's market capitalization, liquidity, and overall market perception. The successful completion of this process could potentially enhance the company's standing in the market and provide a foundation for future growth initiatives.

Prime Fresh Limited (PFL), a leading player in India's horticulture sector, has released an updated investor presentation showcasing its strong market position and ambitious growth plans. The company, which recently migrated from the BSE SME platform to the mainboard, has demonstrated impressive financial performance and strategic expansion initiatives.

Operational Highlights

PFL has built a formidable presence in the fruits and vegetables supply chain over the past 18 years. The company now boasts a network of over 110,000 farmers across 85+ districts in 18+ states, handling an impressive 33,000+ tonnes of produce. This extensive reach has positioned PFL as a key player in bridging the gap between farmers and consumers.

Financial Performance

The company's financial trajectory has been noteworthy, with a revenue CAGR of 33.00% from 2020 to 2025. More impressively, PFL has managed to grow its bottom line faster than its top line, with EBITDA and PAT CAGRs of 34.00% and 41.00% respectively over the same period.

For the most recent quarter, PFL reported stable revenue at INR 533.40 crore, while EBITDA saw a significant increase of 29.00% quarter-on-quarter to INR 39.70 crore. The company's profit after tax (PAT) rose by an impressive 48.00% quarter-on-quarter to INR 28.60 crore.

Strategic Initiatives

PFL has been actively pursuing growth opportunities and operational enhancements:

1. Mainboard Migration: Successfully transitioned from the BSE SME platform to the mainboard, potentially increasing visibility and access to capital.

2. Geographical Expansion: Commenced operations at a new distribution center in Lucknow, strengthening its presence in North India.

3. Product Diversification: Launched UP Mangoes operations and entered the banana category with operations in Maharashtra, expanding its product portfolio.

4. Certifications: Received certification for Organic Products Supply Chain development & Execution License, as well as the UP Mandi License.

5. Market Penetration: Expanded its sales network in Delhi, Haryana, and Punjab through the banana category.

Business Model and Strategy

PFL operates on a multi-channel approach, serving B2B clients, B2C consumers, and both domestic and export markets. The company's business model canvas highlights its focus on reliable sourcing, efficient distribution, and value creation for both farmers and end consumers.

The company's strategy includes reducing state concentration by targeting known crop belts and sourcing from multiple agro-climatic zones. This approach helps in managing volatility and ensuring a stable supply chain.

Future Outlook

PFL anticipates higher growth driven by strong performance in key product categories, particularly pomegranates, guavas, bananas, and tomatoes. The company's integrated model, strong execution capabilities, and focus on value creation position it well to capitalize on future opportunities in the evolving Indian agriculture sector.

Mr. Hiren Ghelani, Founder and Whole Time Director, expressed confidence in the company's growth trajectory, stating, "Our integrated model, strong execution, and continued focus on value creation position us well to capitalize on the opportunities ahead."

As Prime Fresh Limited continues to expand its operations and strengthen its market position, it remains a company to watch in India's growing horticulture and food supply chain sector.