Proventus Agrocom Ltd Share Price – NSE

Trading, Small Cap

Proventus Agrocom will hold a meeting of the Board of Directors of the Company on 1 November 2023.

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Proventus Agrocom announced that the 8th Annual General Meeting (AGM) of the company will be held on 26 September 2023.

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Proventus Agrocom will hold a meeting of the Board of Directors of the Company on 22 August 2023.

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The scrip was listed at Rs 821, at a premium of 6.49% to the issue price. The scrip hit a high of Rs 862.05 and a low of Rs 821. About 1.70 lakh shares of the company changed hands at the counter.

The initial public offer (IPO) of Proventus Agrocom was subscribed 2.61 times. The issue opened for bidding on 24 May 2023 and it closed on 26 May 2023. The IPO price was fixed at Rs 771 per share.

The IPO comprised issue of 9,02,000 equity shares, which included fresh issue of upto 6,71,853 equity shares and offer for sale of upto 2,30,147 equity shares from selling shareholders. Market maker portion comprised of 45,100 equity shares. The promoter and promoter group shareholding declined to 70.84% post IPO from 92.29% pre-IPO.

The company intends to utilize the net proceeds for funding working capital requirements, funding working capital requirements of its material subsidiary namely, Prov Foods and general corporate purpose.

Proventus Agrocom is integrated health food brand with its presence in entire range of dry fruits, nuts, seeds and berries and healthy snacking products across the value chain. The motto of Proventus is to create expertise in healthy food products and build the revenue stream by moving across the value chain from origination to distribution and creating an integrated business model - from “farm to homes”.

The company recorded a revenue from operations of Rs 317.98 crore and net profit of Rs 1.81 crore for the period ended on 31 December 2022.

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