Shri Venkatesh Refineries Limited (SVRL), a player primarily engaged in the business of refining and preservation of edible oils mainly soyabean oil and cotton seed oil, has announced that its IPO is opening on SEPTEMBER 29, 2021 and will close on OCTOBER 01, 2021, at a Price Band Rs 40 per equity share of the face value of Rs 10 each.
Shri Venkatesh Refineries Limited’s IPO is an SME IPO of 29,28,000 equity shares of the face value of Rs 10 aggregating up to Rs 1171.20 lakhs. The minimum order quantity is 3000 shares.
Shri Venkatesh Refineries Limited will list its equity shares on the BSE SME platform.
The net proceeds from the Shri Venkatesh Refineries Limited SME IPO will be utilised towards Working Capital Requirement, General Corporate Purpose and Issue Expenses.
Hem Securities Limited is the Lead Manager and Purva Sharegistry (India) Pvt. Ltd. (Purva) is the registrar to the issue.
Mr. Dinesh Ganapati Kabre, Mr. Anil Ganapati Kabre, Mr. Shantanu Ramesh Kabre and Mr. Prasad Dinesh Kabre are the Promoters of our Company. Total revenue as per Restated Standalone Financial Statements for the year ended on March 31, 2021, was Rs. 33695.48 lakhs & Profit after Tax was Rs. 350.80 Lakhs respectively.
Shri Venkatesh Refineries Limited is primarily engaged in the business of refining and preservation of Edible oils mainly soyabean oil and cotton seed oil. The business process involves the purchase of the raw oil, then refining, packaging and selling of the edible oil. At present Shri Venkatesh Refineries Limited has a refining capacity of almost 36000 tons. Apart from the refining of edible oil, Shri Venkatesh Refineries Limited is also engaged in the business of trading of edible oil mainly soyabean oil, cotton seed oil and palm oil.
Commenting on the announcement of Shri Venkatesh Refineries Limited SME IPO, Mr Dinesh Ganapati Kabre, Chairman cum Managing Director, said, “It’s really a big moment for us as we announce the launch of our much-awaited SME IPO. We are extremely thankful to our clients, customers and stakeholders for their overwhelming support throughout the journey.