SVRL IPO to open on BSE SME platform on Sept 29. Check details here

27 Sep , 2021 By : Kanchan Joshi

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 Rs40 per equity share of the face value of Rs10 each.

"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," said SVRL chairman and MD Dinesh Ganapati Kabre.

Shri Venkatesh Refineries Limited's IPO is an SME IPO of 29,28,000 equity shares of the face value of Rs10 aggregating up to Rs11.71 crore. The minimum order quantity is 3,000 shares.

Shri Venkatesh Refineries Limited will list its equity shares on the BSE SME platform.

According to the company, the net proceeds from the Shri Venkatesh Refineries Limited SME IPO will be utilised towards working capital requirement, general corporate purpose and issue expenses.

Dinesh Ganapati Kabre, Anil Ganapati Kabre, Shantanu Ramesh Kabre and Prasad Dinesh Kabre are the Promoters of the company. Total revenue for the year ended on March 31, 2021, was Rs337 crore and Profit after Tax (PAT) was Rs3.5 crore respectively.

SVRL 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 SVRL has a refining capacity of almost 36,000 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.

Key Points

- Shri Venkatesh Refineries Limited IPO is an SME IPO of 29,28,000 equity shares