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TGIF Agribusiness IPO
Price Band
₹
Issue Size
₹6.39 Cr
Lot Size
1,200 shares
Min Investment
₹111,600
GMP
+₹70.0 (75.27%)
Issue Price
₹93.0
Subject to Sauda
₹63800
Paid only if allotted
TGIF Agribusiness IPO AI Summary
- TGIF Agribusiness IPO is listed on BSE SME in the Other Agricultural Products sector.
- Subscription window: 08 May–10 May 2024, listing on 15 May 2024.
- Current GMP is +₹70.0 (75.27%) — unofficial and can change daily.
TGIF Agribusiness Limited, an SME IPO in the agricultural sector, is offering shares at ₹93.0 with a minimum investment of ₹111,600. The company has shown fluctuating revenue and profit figures, with a current RoNW of 73.95% and a P/E ratio of 13.57. The IPO is set to open on May 8, 2024, and close on May 10, 2024, with a listing date of May 15, 2024.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
TGIF Agribusiness IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 10 May 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
TGIF Agribusiness IPO Grey Market Premium (GMP) Today
GMP
+₹70.0
GMP %
+75.27%
Est. Listing
₹163.0
Updated: 25 Jul 2026 14:06
About the Company
Founded in 2014, TGIF Agribusiness Limited, previously known as ARV Farmpro LLP, is active in the open field cultivation of fruit and vegetable varieties. The company is engaged in the cultivation of pomegranates, dragon fruit and timber plantations, i.e. sagwan trees. The company also grows and harvests seasonal vegetables and fruits such as lemons, watermelons and chilies. The company's farmlands are located in Ajari, Kasindra and Kojra in Rajasthan and cover an area of over 110 acres. The land has been leased from Niraj Chhaganraj Gemawat (promoter), Rachna Gemawat (promoter), Niraj Chhaganraj Gemawat HUF and Vipin Moharir. The company sells most of its products through a B2B business model to retailers, wholesalers, retail chains, hypermarkets and mandis. The company also plans to sell its products directly to customers through a B2C model called Direct2home Service. As of November 30, 2023, the company employed around 8 people at various levels of the organization.
Company Financials (₹ Cr)
As of 2023-11-30
| Period Ended | 30 Nov 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 2.82 | 1.88 | 0.65 | 2.92 |
| Total Income | 1.72 | 2.32 | 2.07 | 1.82 |
| Profit After Tax | 0.81 | 1.30 | 1.15 | 0.38 |
| NET Worth | 1.90 | 1.76 | 0.46 | 2.58 |
| Total Borrowing | 0.67 |
Key Ratios
EPS
₹6.85
NAV
₹10.00
RoNW
42.85%
P/B Value
9.30
P/E Ratio
13.58
Market Cap
₹24.06 Cr
PAT Margin
47.70%
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| Bangalore Fort Farms Ltd | 0.1% | 59.92 | 0.36 | 0.36 |
| Raghuvansh Agrofarms Ltd | 9.19% | 110.74 | 4.07 | 4.07 |
| TGIF Agribusiness Limited This IPO | 73.95% | 13.57 | 6.85 | 6.85 |
Promoters
Niraj Chhaganraj Gemawat and Rachana Niraj Gemawat
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Purchase of agricultural equipments & irrigation system 2.06 2 To meet Working Capital requirements 2.27 3 General Corporate Purpose 1.54
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹2.07 Cr in the period ending 31 Mar 2022, increasing to ₹2.32 Cr by 31 Mar 2023. However, it declined to ₹1.72 Cr by 30 Nov 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹1.15 Cr in the period ending 31 Mar 2022, rising to ₹1.30 Cr by 31 Mar 2023. It then decreased to ₹0.81 Cr by 30 Nov 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Priced at roughly 13.57 trailing earnings, versus peers trading at 59.92-110.74.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before it officially lists on the stock exchange. A higher GMP suggests strong demand for the shares.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance.
Who May Want to Wait
Investors who prefer stable, established companies may want to avoid this IPO, given the inherent risks associated with newer businesses in the agricultural sector.
Listing Gains — The Risk
Listing gains can be unpredictable and are influenced by various factors, including market conditions and investor sentiment. There is no guarantee that shares will trade at a premium on the listing day.
This evaluation is generated from TGIF Agribusiness's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is TGIF Agribusiness IPO GMP today?
TGIF Agribusiness IPO GMP today is +₹70.0 (75.27%). GMP is an unofficial grey-market indicator and can change daily.
When does TGIF Agribusiness IPO open and close?
TGIF Agribusiness IPO opens on 08 May 2024 and closes on 10 May 2024.
When does TGIF Agribusiness IPO list on the stock exchange?
TGIF Agribusiness IPO listed on 15 May 2024 at ₹163.0.
What is the lot size for TGIF Agribusiness IPO?
The lot size for TGIF Agribusiness IPO is 1200 shares, requiring a minimum investment of ₹111,600.
What is the issue price of TGIF Agribusiness Limited?
The issue price is ₹93.0.
What is the minimum investment required?
The minimum investment required is ₹111,600.
What is the lot size for the IPO?
The lot size is 1200 shares.
When is the IPO open for subscription?
The IPO is open from May 8, 2024, to May 10, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
08 May 2024
Close
10 May 2024
Allotment
13 May 2024
Listing
15 May 2024
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