White Organics IPO description – White Organics started its corporate journey as Sapna Infraventure Private Limited but diversified its business from Real Estate Development Activity to trading in Agricultural products in 2016. The company is into trading of Agriculture produce like Cereals, Pulses, Grains, Fruits and Vegetables etc.
The company had commenced the operations of trading in Agricultural products including Organic and other Products and started Distribution and Retailing of those Products in October 2016. The company had commenced commercial operations of its organic store located at 6, Krushal commercial complex, Amar Mahal, Chembur, Mumbai which has been now closed and the company is in the process of opening a new store at Shop No-1, Shreenath Heights, Lake Road, Bhandup (West), Mumbai- 400078, Maharashtra, India. Â The area is densely populated and dominated by highly educated and health conscious community.
The management has launched the franchisee module for the retail network. In the first phase of expansion, the company is looking to setup 40+ retail outlets across Mumbai, Pune, Nasik, Ahmedabad, Surat, Vadodra, Rajkot and different educated, Health conscious and densely populated sectors across India.
White Organics promoters – Mr Darshak Mahesh Rupani, Mr Prashantt Mahesh Rupani and White Organic Agro Limited
| White Organics – Upcoming IPO details | |
| Subscription Dates | 26 April – 2 May 2019 |
| IPO Price band | INR63 per share |
| Fresh issue | 2,454,000 shares (INR15.46 crore) |
| Offer for sale | Nil |
| Total IPO size | 2,454,000 shares (INR15.46 crore) |
| Minimum bid (lot size) | 2,000 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | BSE SME platform |
Use of funds
- Working Capital Requirements – INR12.51 crore
- General Corporate Purposes – INR2.00 crore
- Issue Expenses – INR0.95 crore
| White Organics’ financial performance (in INR crore) | ||||||
| FY2016 | FY2017 | FY2018 | 9M FY2019 | |||
| Total revenue | 1.07 | 2.55 | 84.00 | 116.35 | ||
| Total expenses | 0.72 | 1.69 | 79.62 | 110.10 | ||
| Profit after tax | 0.24 | 0.59 | 3.02 | 4.51 | ||
White Organics Retail Contact Details
White Organics Retail LimitedÂ
312A, Kailash Plaza
Vallabh Baug Lane, Ghatkopar (East)
Mumbai – 400077
Phone:Â +91 022 25011983
Email:Â [email protected]
Website:Â www.whiteorganics.co.in
White Organics IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.37 |
| Day 2 | 0.84 |
| Day 3 | 1.29 |
White Organics Retail Valuation (as of 31 Dec 2018)
Earnings Per Share (EPS): INR42.01
Price/Earnings (P/E) ratio: 1.50
Return on Net Worth (RONW): 67.29%
Net Asset Value (NAV): INR62.43 per share
Registrar of White Organics Retail IPO
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Website:Â http://www.linkintime.co.in
White Organics Retail IPO Allotment Status
White Organics IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.
Listing performance of White Organics Retail
IPO Opening Date:Â 26 April 2019
IPO Closing Date: 2 May 2019
Listing Date: 10 May 2019
Listing Price on BSE SME: INR64.2 per share (up 1.90% from IPO price)
Closing Price on BSE SME: INR64.3 per share (up 2.06% from IPO price)
