TGIF Agribusiness Limited IPO share allotment expected on May 13: Here’s how to check status

TGIF Agribusiness Ltd is expected to finalise the share allotment status for its initial public offering (IPO) on Monday, May 13, following successful closure of the subscription window.

The ₹6.39-crore public offer, a fixed price issue, opened for subscription on May 8 and closed on May 10. At the close of bidding on Friday, the issue was subscribed more than 37 times.

The investors can check the TGIF Agribusiness Ltd IPO share allotment status after the company finalises the share allocation. The IPO allotment status can be checked on websites of the BSE and IPO registrar, Bigshare Services Pvt Ltd.

Follow these steps to check TGIF Agribuisness Ltd share allotment status on IPO registrar website:

• Step 1 : Open Bigshare Services Pvt Ltd website (https://www.bigshareonline.com )
• Step 2. Select any server
• Step 3. Click on IPO allotment status (www.bigshareonline.com/ipo_Allotment.html)
• Step 4. Select TGIF Agribusiness from the dropdown list
• Step 5. Choose PAN ID or Application number
• Step 6. Complete the 'captcha' to verify
• Step 7. Click the "Search" button to check your allotment status

How to check TGIF Agribusiness IPO share allotment status on BSE website?

• Step 1. Open BSE website (https://www.bseindia.com )
• Step 2. Click on Investor Relations and go to public issues
• Step 3. Click on Application Status (https://www.bseindia.com/investors/appli_check.aspx )
• Step 4. Select TGIF Agribusiness from the Dropdown List
• Step 5. Enter your APN details of application number
• Step 6. Click to check allotment details

TGIF Agribusiness IPO subscription, price band and other details

The ₹6.39-crore TGIF Agribusiness was a fresh issue of 6.88 lakh shares and no Offer for Sale component.The company fixed the IPO price at ₹93 per share. The minimum lot size for retail investors was 1,200 shares and the minimum investment amount was ₹1,11,600.

According to exchange data, TGIF Agribusiness IPO was subscribed a little over 37 times at the close of bidding on May 10. Total bids for 2.42 crore equity shares were received against 6,52,800 equity shares on offer.

Retail investors’ quota was booked around 33 times while the other segment was subscribed around 35 times.

TGIF Agribusiness IPO objects

TGIF Agribusiness is a horticulture company engaged in open farming of certain fruits and vegetables. Its farm land is spread over an area of over 110 acres in district Sirohi, Rajasthan. The company expects net IPO proceeds of ₹586.78 lakh. Of this, it has proposed to use ₹205.97 lakh for the purchase of agricultural equipment & irrigation system. It will use ₹227 lakh for meeting Working Capital requirements and ₹153.76 crore for General Corporate Purpose.

The company looks to expand its agricultural and irrigation facilities at the existing farms located in Rajasthan. The proposed purchase of equipment & irrigation facility will enhance the production of the company, according to the RHP.

The expansion activities are proposed to be commissioned during the year 2024-25.