Farm Peace Files for Rs 23 Crore IPO on BSE SME Platform
Farm Peace, an integrated contract farming company specializing in processed-grade potato varieties, has filed for an Initial Public Offering (IPO) on BSE's SME platform. The company aims to raise Rs 23 crore by issuing 54.24 lakh fresh equity shares. The funds will be used for incremental working capital requirements and general corporate purposes. Farm Peace reported a revenue of Rs 79.24 crore and a profit after tax of Rs 6.66 crore. Neeraj Vishnukumar Gupta, founder of Meru Cabs, serves as an advisor to the company. Socradamus Capital has been appointed as the sole book-running lead manager for the offering.
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Farm Peace, an integrated contract farming company established in 2021, has taken a significant step towards public listing by filing preliminary papers for an Initial Public Offering (IPO) on BSE's SME platform. The company aims to raise Rs 23 crore through this offering, which consists entirely of fresh equity shares.
IPO Details
- Issue Size: 54.24 lakh equity shares
- Face Value: Rs 10 per share
- Total Fundraising Target: Rs 23 crore
Fund Utilization
The proceeds from the IPO are earmarked for:
- Incremental working capital requirements
- General corporate purposes
Company Overview
Farm Peace specializes in processed-grade potato varieties, catering to the needs of processing companies that produce french fries, chips, and other potato-based products. The Ahmedabad-based company manages the entire farming cycle and provides comprehensive support to farmers.
Key Potato Varieties
- Santana
- Frysona
- Innovators
- Lady Rosetta
- Chipsona
Financial Performance
| Metric | Amount (in Rs crore) |
|---|---|
| Revenue | 79.24 |
| Profit After Tax | 6.66 |
Notable Advisor
Neeraj Vishnukumar Gupta, founder of Meru Cabs, serves as an advisor to Farm Peace, bringing valuable entrepreneurial experience to the company.
IPO Management
Socradamus Capital has been appointed as the sole book-running lead manager for the offering.
This IPO represents an opportunity for investors interested in the agricultural sector, particularly in companies focusing on integrated farming solutions. Farm Peace's specialization in processed-grade potatoes and its end-to-end management of the farming cycle could be attractive to those looking at niche agricultural plays in the Indian market.
As with all SME IPOs, potential investors should carefully consider the risks and growth prospects before making an investment decision. It's advisable to review the company's Red Herring Prospectus (RHP) for detailed information on financials, risk factors, and future prospects.
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