TBI Corn IPO opens today: Price band set at ₹90-94 per share, details here

TBI Corn IPO: TBI Corn IPO commences on May 31 and will conclude on June 4. Allotment of TBI Corn IPO is expected to be finalised on June 5.

TBI Corn IPO: The initial public offering (IPO) of TBI Corn is set to open for subscription on May 31. Through the book-built issue, the company aims to raise ₹44.94 crores comprising entirely a fresh issue of 47.81 lakh shares. Net proceeds from the IPO will be used by the company for its expansion plans, working capital requirements and general corporate purposes, it said.

TBI Corn IPO: Through the book-built issue, the company aims to raise ₹44.94 crores comprising entirely a fresh issue of 47.81 lakh shares. (File Photo)

TBI Corn IPO price band

The price band for TBI Corn IPO is fixed at ₹90 to ₹94 per share and the minimum lot size is set at 1200 shares. For retail investors, the minimum investment required is ₹1,12,800 while high net worth individual (HNI) investors need to invest in 2 lots.

TBI Corn IPO key dates

TBI Corn IPO commences on May 31 and will conclude on June 4. Allotment of TBI Corn IPO is expected to be finalised on June 5 and the tentative listing date on NSE SME is June 7.

TBI Corn IPO share allotment

The company allocated not more than 50 per cent of the shares offered of the net issue for QIB (qualified institutional buyers) investors, not less than 35 per cent for retail buyers and not less than 15 per cent for NII (Non-institutional investors).

TBI Corn IPO financials

The company’s revenue increased by 40 per cent to ₹140 crore in FY23 from ₹100 crore in FY22.

TBI Corn IPO registrar

Swastika Investmart Ltd and Ekadrisht Capital Private Limited are the book running lead managers of the IPO while Kfin Technologies Limited is the registrar and Ss Corporate Securities is the market maker.