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Leo Dryfruits & Spices Trading Ltd IPO

Status: Closed

Overview

IPO date
01 Jan 2025 to 03 Jan 2025
Face value
₹ 10 per share
Price
₹ 51 to ₹52 per share
Issue Size
4,830,000 shares
(aggregating up to ₹ 25.12 Cr)
Allotment Date
06 Jan 2025
Listing at
NSE
Issue type
Book Building - SME
Sector
Retail

Objectives of Leo Dryfruits & Spices Trading Ltd IPO

Public issue of upto 48,30,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Leo Dryfruits & Spices Trading Private Limited ("Leo Dryfruits", or "The Company" or "The Issuer") for cash at a price of Rs. 52 per equity share including a share premium of Rs. 42 per equity share (the "Issue Price") aggregating to Rs. 25.12 crores ("The Issue"), of which 2,46,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 52 per equity share including a share premium of Rs. 42 per equity share aggregating to Rs.1.28 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., net issue of 45,84,000 equity shares of face value of Rs. 10/- each at a price of Rs. 52 per equity share including a share premium of Rs. 42 per equity share aggregating to Rs. 23.84 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 27 % and 25.62 % respectively of the post issue paid up equity share capital of the company. Issue Price: Rs. 52 per equity share of face value of Rs. 10 each. Anchor Investor Issue Price: Rs. 52 per equity share. The Issue Price is 5.20 times of the face value. Bid can be made for a minimum of 2000 equity shares and in multiples of 2000 equity shares.

Leo Dryfruits & Spices Trading Ltd IPO Strategy

  • Expand our market presence to other states of India and overseas and increase our distribution reach.
  • Scale up branding, promotional and digital activities.
  • Improving Efficiency.
  • Quality Assurance.
  • Continue to strengthen our existing product portfolio and diversify into products with attractive growth and profitability prospects.
  • Leveraging our market skills and relationships.

About Leo Dryfruits & Spices Trading Ltd

Leo Dryfruits & Spices Trading Limited was originally incorporated under the name 'Leo Dryfruits & Spices Trading Private Limited' vide Certificate of Incorporation dated November 16, 2019, issued by the Registrar of Companies, Central Registration Centre. The status of the Company was subsequently changed to 'Leo Dryfruits & Spices Trading Limited' and a fresh Certificate of Incorporation on July 07, 2023 by Assistant Registrar of Companies, Centralised Processing Centre. The Company is engaged in manufacturing/processing, trading and marketing of wide range of spices, dry fruits and other grocery products under the brand name 'VANDU' and frozen/semi fried products under the brand name of 'FRYD'. The Company is doing its business in two verticals i.e., trading and manufacturing/processing of wide range of spices, dry fruits, frozen/semi fried products and other grocery products. Under trading division, it is dealing in various types of whole spices and dry fruits in bulk quantity under unbranded sale, various types of whole spices and dry fruits in smaller quantity under the brand name 'VANDU' and frozen/semi fried products under the brand name of 'FRYD'. Under the manufacturing/processing division, the Company is processing blended spices and other grocery products such as chiz bites and seasoning at manufacturing/processing unit located at Thane, Maharashtra. To expand the product range, the Company is selling ghee under brand name 'VANDU' which is manufactured and packed by reliable manufacturer. It is also dealing in other grocery products such as seasonings, chili flakes, garlic powder, asafoetida (hing), black salt, pulses, dry ginger, fennel seeds, fenugreek seeds, nigella seeds, mace, nutmeg etc. which are sourced from third party producers or wholesalers and sell under 'Vandu' brand. Also, the Company is acting as anchor distributor to redistribute the soft drink named campa cola. The Company is planning to come out with a public issue of 48,30,000 equity shares through fresh issue.

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T&C*

Strengths vs Risks of Leo Dryfruits & Spices Trading Ltd

Know the pros & cons

Strengths

  • arrowExperienced promoters and management team.
  • arrowDiversified product portfolio.
  • arrowIn house manufacturing and processing capabilities.
  • arrowValue proposition for consumers.
  • arrowWide spread customer base across various segments.

Risks

  • arrowThe company is a new player in the spice, dry fruits, frozen/semi fried and other grocery business and there is no assurance that its will be able to maintain or increase the company revenue from operations in the long term.
  • arrowThe Company, Promoters and Directors are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render it/them liable to liabilities/penalties/prosecutions and may adversely affect its business and results of operations.
  • arrowThe company derives a significant portion of its revenue from trading activities, for which the company has to relies on third parties for sourcing of products.
  • arrowSubstantial portion of its revenues has been dependent upon few customers, with which the company does not have any firm commitments. The loss of any one or more of its major customers would have a material adverse effect on its business, cash flows, results of operations and financial condition.
  • arrowThe company has experienced negative cash flows from operations in the recent past, and its may have negative cash flows in the future.
  • arrowIts future success depends on the company ability to promote its brand and protect its reputation. The company failures to establish and promote its brand and any damage to its reputation will hinder the company growth.
  • arrowThe company operates in highly competitive markets, and the scale and resources of some of its competitors may allow them to compete more effectively than the company can, which could result in a loss of its market share and a decrease in its net revenues and profitability.
  • arrowIts business is dependent on the company manufacturing/ processing unit and its subject to certain risks in the company manufacturing process. Obsolescence, destruction, theft, breakdowns of its major plants or machineries or failures to repair or maintain the same may affect its business, cash flows, financial condition and results of operations.
  • arrowThe company does not manufacture some of its products such as ghee, flavored dry fruits and frozen/semi fried products in its own capacity but procure the same from third party suppliers.
  • arrowThe success of processing spices is dependent on the timely supply of raw materials to its processing unit, which are subject to various uncertainties and risks. Also, its material and traded products prices are subject to fluctuations.
  • arrowThe improper handling, processing or storage of its raw materials and traded products, or spoilage of and damage to such raw materials and traded products, or any real or perceived contamination in its products, could subject it to regulatory action, damage the company reputation and have an adverse effect on its business, results of operations and financial condition.
  • arrowThe Restated Financial Statements have been provided by Peer Reviewed Chartered Accountants who is not Statutory Auditor of the Company.
  • arrowUnder-utilization of its manufacturing capacities could have an adverse effect on the company business, future prospects and future financial performance.
  • arrowThe company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact its results of operations.
  • arrowThe company derives a significant portion of its revenue from Maharashtra and failures to expand its operations into new geographic regions and markets may restrict the company growth and adversely affect its business.
  • arrowIf the company fails to successfully expand its product portfolio or fails to develop and commercialize new products that are well received by consumers in a timely manner, its operating results may be materially and adversely affected.
  • arrowThe markets in which the company compete are characterized by consumers and their rapidly changing tastes and preferences and therefore as a result the Company may be affected by any disruptions in the industry.
  • arrowCertain aspects of its business, including procurement of raw materials and traded products are seasonal in nature.
  • arrowAs its continue to grow, the company may not be able to effectively manage its growth and the increased complexity of the company business, which could negatively impact its brand and financial performance.
  • arrowPricing pressure from its competitors may affect the company ability to maintain or increase its product prices and, in turn, its revenue from product sales, gross margin and profitability may decline, which may materially and adversely affect its business, cash flows, financial condition and results of operations.
  • arrowThe company sale office is not owned by it and the company has only lease rights over such premises. In the event its lose such rights or are required to negotiate it, the company cash flows, business, financial conditions and results of operations could be adversely affected.
  • arrowIf the company is unable to service its debt obligations in a timely manner or to comply with various financial and other covenants and other terms and conditions of its financing agreements, it may adversely affect the company business, prospects, results of operations and financial condition.
  • arrowIts may not be able to adequately protect or continue to use the company intellectual property.
  • arrowThe Company operates under "Vandu" Trademark, which is not owned by the Company. Revocation of the trademark license agreement may lead it to end up losing the authorization for usage, in such which event its business shall be adversely affected.
  • arrowThe company is subject to strict quality requirements and any failures by it to comply with quality standards may lead to cancellation of existing and future orders.
  • arrowThe company's business is operating under various laws which require it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business and its inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for its business operations could materially and adversely affect its business, prospects, results of operations and financial condition.
  • arrowStringent food safety, consumer goods, health and safety laws and regulations may result in increased liabilities and increased capital expenditures.
  • arrowIts operating results could be materially harmed if the company is unable to accurately forecast consumer demand for its products or manage the company inventory.
  • arrowIf the company fails to acquire new consumers or fails to do so in a cost-effective manner, its may not be able to increase revenue or maintain profitability.
  • arrowThe company insurance coverage may not be adequate to protect it against certain operating hazards and this may have a material adverse effect on its business.
  • arrowThe company business is dependent on the adequate and uninterrupted supply of electrical power at a reasonable cost. The Company does not have suitable power back-up to meet power failures exigencies. Failures on account of unavailability of electrical power may restrict it in utilizing its full capacity and, hence, may impact the company business and results of operation.
  • arrowThe company is reliant on its relationships with its selling and distribution network includes wholesalers, distributors and super stockiest network. Disruptions to such relationships, changes in their business practices, their failure to meet payment schedules could adversely affect its business, cash flows and results of operations.
  • arrowThe orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on its business, financial condition and results of operations.
  • arrowThe company is dependent on third-party transportation providers for the supply of raw materials and delivery of its finished products and traded products.
  • arrowThe company has in the past entered into related party transactions and may continue to do so in the future.
  • arrowSome of its promoter group entities are engaged in similar line of business. Any conflict of interest in future may occur between its promoter group entities and us may adversely affect the company business, prospects, results of operations and financial condition.
  • arrowThe company has significant working capital requirements. If its experience insufficient cash flows from the company operations or are unable to borrow to meet its working capital requirements, it may materially and adversely affect the company business, cash flows and results of operations.
  • arrowInventories and trade receivables form a major part of its current assets. Failures to manage the company inventory and trade receivables could have an adverse effect on its sales, profitability, cash flow and liquidity.
  • arrowIts manufacturing/processing activities requires deployment of labour and depends on availability of labour. In case of unavailability of such labour, its business operations could be affected.
  • arrowThere are certain discrepancies noticed in some of its financial reporting and/or records relating to filing of returns with the taxation authority.
  • arrowChanges in technology may render its current technologies obsolete or require the company to make substantial investments.
  • arrowIts lenders have charge over the company immovable and movable properties in respect of finance availed by it.
  • arrowThe Company has taken unsecured loans that may be recalled by the lenders at any time.
  • arrowExcessive dependence on Bank of Baroda in respect of Loan facilities obtained by the Company.
  • arrowIts Promoters and Directors have provided personal guarantees for financing facilities availed by the Company and may in the future provide additional guarantees and any failures or default by the Company to repay such facilities in accordance with the terms and conditions of the financing agreements could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as its Promoters and Directors and thereby, adversely impact its business and operations.
  • arrowAny increase in interest rates would have an adverse effect on its results of operations and will expose the Company to interest rate risks.
  • arrowThe company is dependent on its promoters, the company senior management and other key personnel, and the loss of, or its inability to attract or retain, such persons could affect its business, results of operations, financial condition and cash flows.
  • arrowThe company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • arrowFraud, theft, employee negligence or similar incidents may adversely affect its results of operations and financial condition.
  • arrowInformation relating to its installed capacities and the historical capacity utilization of the company manufacturing facility included in this Red Herring Prospectus is based on various assumptions and estimates and future production and capacity utilization may vary.
  • arrowIts ability to pay any dividends will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
  • arrowIts promoter and the promoter group will jointly continue to retain majority shareholding in the Company after the Issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
  • arrowThe company has issued Equity Shares during the last one year at a price may be below the Issue price.
  • arrowAny variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
  • arrowThe Objects of the Issue for which funds are being raised, are based on its management estimates and the same have not been appraised by any bank or financial institution or any independent agency. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue".
  • arrowThe company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
  • arrowAny future issuance of its Equity Shares may dilute prospective investors' shareholding, and sales of its Equity Shares by the company major shareholders may adversely affect the trading price of its Equity Shares.
  • arrowThe Issue Price of the Equity Shares may not be indicative of the market price of the Equity Shares after the Issue.
  • arrowInvestors other than retail (including non- institutional investors, QIBs and Corporate Bodies) are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Amount) at any stage after submitting an application.
  • arrowInvestors other than retail (including non- institutional investors, QIBs and Corporate Bodies) are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Amount) at any stage after submitting an application.
  • arrowIndustry information included in this Red Herring Prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.

Leo Dryfruits & Spices Trading Ltd Peer Comparison

Understand the company’s industry standing

Leo Dryfruits & Spices Trading Ltd
Jetmall Spices and Masala Ltd
Hoac Foods India Ltd
Face Value
10
10
10
Standalone / Consolidated
Standalone
Standalone
Standalone
Total Income Rs. Cr.
---
---
---
EPS-Basis
5.21
0.07
3.88
EPS-Diluted
---
---
---
NAV Per Share
26.63
16.22
12.69
P/E-Basic EPS
---
156.43
32.22
P/E-Diluted EPS
---
---
---
RONW(%)
19.58
0.44
30.53
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 01 Jan 2025 & closes on 03 Jan 2025.

Leo Dryfruits & Spices Trading Limited was originally incorporated under the name 'Leo Dryfruits & Spices Trading Private Limited' vide Certificate of Incorporation dated November 16, 2019, issued by the Registrar of Companies, Central Registration Centre. The status of the Company was subsequently changed to 'Leo Dryfruits & Spices Trading Limited' and a fresh Certificate of Incorporation on July 07, 2023 by Assistant Registrar of Companies, Centralised Processing Centre. The Company is engaged in manufacturing/processing, trading and marketing of wide range of spices, dry fruits and other grocery products under the brand name 'VANDU' and frozen/semi fried products under the brand name of 'FRYD'. The Company is doing its business in two verticals i.e., trading and manufacturing/processing of wide range of spices, dry fruits, frozen/semi fried products and other grocery products. Under trading division, it is dealing in various types of whole spices and dry fruits in bulk quantity under unbranded sale, various types of whole spices and dry fruits in smaller quantity under the brand name 'VANDU' and frozen/semi fried products under the brand name of 'FRYD'. Under the manufacturing/processing division, the Company is processing blended spices and other grocery products such as chiz bites and seasoning at manufacturing/processing unit located at Thane, Maharashtra. To expand the product range, the Company is selling ghee under brand name 'VANDU' which is manufactured and packed by reliable manufacturer. It is also dealing in other grocery products such as seasonings, chili flakes, garlic powder, asafoetida (hing), black salt, pulses, dry ginger, fennel seeds, fenugreek seeds, nigella seeds, mace, nutmeg etc. which are sourced from third party producers or wholesalers and sell under 'Vandu' brand. Also, the Company is acting as anchor distributor to redistribute the soft drink named campa cola. The Company is planning to come out with a public issue of 48,30,000 equity shares through fresh issue.

Leo Dryfruits & Spices Trading Ltd IPO will close on 03 Jan 2025.

  • Experienced promoters and management team.
  • Diversified product portfolio.
  • In house manufacturing and processing capabilities.
  • Value proposition for consumers.
  • Wide spread customer base across various segments.

S.No Promoters Name Pre Issue Shares Pre Issue Percentage Post Issue Shares Post Issue Percentage
1 Kaushik Sobhagchand Shah 2358580 18.06 2358580 13.18
2 Ketan Sobhagchand Shah 2045050 15.66 2045050 11.43
3 Parth Ashish Mehta 2259250 17.3 2259250 12.63
4 Prashant P Mehta 156100 1.2 156100 0.87

  • The company is a new player in the spice, dry fruits, frozen/semi fried and other grocery business and there is no assurance that its will be able to maintain or increase the company revenue from operations in the long term.
  • The Company, Promoters and Directors are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render it/them liable to liabilities/penalties/prosecutions and may adversely affect its business and results of operations.
  • The company derives a significant portion of its revenue from trading activities, for which the company has to relies on third parties for sourcing of products.
  • Substantial portion of its revenues has been dependent upon few customers, with which the company does not have any firm commitments. The loss of any one or more of its major customers would have a material adverse effect on its business, cash flows, results of operations and financial condition.
  • The company has experienced negative cash flows from operations in the recent past, and its may have negative cash flows in the future.
  • Its future success depends on the company ability to promote its brand and protect its reputation. The company failures to establish and promote its brand and any damage to its reputation will hinder the company growth.
  • The company operates in highly competitive markets, and the scale and resources of some of its competitors may allow them to compete more effectively than the company can, which could result in a loss of its market share and a decrease in its net revenues and profitability.
  • Its business is dependent on the company manufacturing/ processing unit and its subject to certain risks in the company manufacturing process. Obsolescence, destruction, theft, breakdowns of its major plants or machineries or failures to repair or maintain the same may affect its business, cash flows, financial condition and results of operations.
  • The company does not manufacture some of its products such as ghee, flavored dry fruits and frozen/semi fried products in its own capacity but procure the same from third party suppliers.
  • The success of processing spices is dependent on the timely supply of raw materials to its processing unit, which are subject to various uncertainties and risks. Also, its material and traded products prices are subject to fluctuations.
  • The improper handling, processing or storage of its raw materials and traded products, or spoilage of and damage to such raw materials and traded products, or any real or perceived contamination in its products, could subject it to regulatory action, damage the company reputation and have an adverse effect on its business, results of operations and financial condition.
  • The Restated Financial Statements have been provided by Peer Reviewed Chartered Accountants who is not Statutory Auditor of the Company.
  • Under-utilization of its manufacturing capacities could have an adverse effect on the company business, future prospects and future financial performance.
  • The company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact its results of operations.
  • The company derives a significant portion of its revenue from Maharashtra and failures to expand its operations into new geographic regions and markets may restrict the company growth and adversely affect its business.
  • If the company fails to successfully expand its product portfolio or fails to develop and commercialize new products that are well received by consumers in a timely manner, its operating results may be materially and adversely affected.
  • The markets in which the company compete are characterized by consumers and their rapidly changing tastes and preferences and therefore as a result the Company may be affected by any disruptions in the industry.
  • Certain aspects of its business, including procurement of raw materials and traded products are seasonal in nature.
  • As its continue to grow, the company may not be able to effectively manage its growth and the increased complexity of the company business, which could negatively impact its brand and financial performance.
  • Pricing pressure from its competitors may affect the company ability to maintain or increase its product prices and, in turn, its revenue from product sales, gross margin and profitability may decline, which may materially and adversely affect its business, cash flows, financial condition and results of operations.
  • The company sale office is not owned by it and the company has only lease rights over such premises. In the event its lose such rights or are required to negotiate it, the company cash flows, business, financial conditions and results of operations could be adversely affected.
  • If the company is unable to service its debt obligations in a timely manner or to comply with various financial and other covenants and other terms and conditions of its financing agreements, it may adversely affect the company business, prospects, results of operations and financial condition.
  • Its may not be able to adequately protect or continue to use the company intellectual property.
  • The Company operates under "Vandu" Trademark, which is not owned by the Company. Revocation of the trademark license agreement may lead it to end up losing the authorization for usage, in such which event its business shall be adversely affected.
  • The company is subject to strict quality requirements and any failures by it to comply with quality standards may lead to cancellation of existing and future orders.
  • The company's business is operating under various laws which require it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business and its inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for its business operations could materially and adversely affect its business, prospects, results of operations and financial condition.
  • Stringent food safety, consumer goods, health and safety laws and regulations may result in increased liabilities and increased capital expenditures.
  • Its operating results could be materially harmed if the company is unable to accurately forecast consumer demand for its products or manage the company inventory.
  • If the company fails to acquire new consumers or fails to do so in a cost-effective manner, its may not be able to increase revenue or maintain profitability.
  • The company insurance coverage may not be adequate to protect it against certain operating hazards and this may have a material adverse effect on its business.
  • The company business is dependent on the adequate and uninterrupted supply of electrical power at a reasonable cost. The Company does not have suitable power back-up to meet power failures exigencies. Failures on account of unavailability of electrical power may restrict it in utilizing its full capacity and, hence, may impact the company business and results of operation.
  • The company is reliant on its relationships with its selling and distribution network includes wholesalers, distributors and super stockiest network. Disruptions to such relationships, changes in their business practices, their failure to meet payment schedules could adversely affect its business, cash flows and results of operations.
  • The orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on its business, financial condition and results of operations.
  • The company is dependent on third-party transportation providers for the supply of raw materials and delivery of its finished products and traded products.
  • The company has in the past entered into related party transactions and may continue to do so in the future.
  • Some of its promoter group entities are engaged in similar line of business. Any conflict of interest in future may occur between its promoter group entities and us may adversely affect the company business, prospects, results of operations and financial condition.
  • The company has significant working capital requirements. If its experience insufficient cash flows from the company operations or are unable to borrow to meet its working capital requirements, it may materially and adversely affect the company business, cash flows and results of operations.
  • Inventories and trade receivables form a major part of its current assets. Failures to manage the company inventory and trade receivables could have an adverse effect on its sales, profitability, cash flow and liquidity.
  • Its manufacturing/processing activities requires deployment of labour and depends on availability of labour. In case of unavailability of such labour, its business operations could be affected.
  • There are certain discrepancies noticed in some of its financial reporting and/or records relating to filing of returns with the taxation authority.
  • Changes in technology may render its current technologies obsolete or require the company to make substantial investments.
  • Its lenders have charge over the company immovable and movable properties in respect of finance availed by it.
  • The Company has taken unsecured loans that may be recalled by the lenders at any time.
  • Excessive dependence on Bank of Baroda in respect of Loan facilities obtained by the Company.
  • Its Promoters and Directors have provided personal guarantees for financing facilities availed by the Company and may in the future provide additional guarantees and any failures or default by the Company to repay such facilities in accordance with the terms and conditions of the financing agreements could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as its Promoters and Directors and thereby, adversely impact its business and operations.
  • Any increase in interest rates would have an adverse effect on its results of operations and will expose the Company to interest rate risks.
  • The company is dependent on its promoters, the company senior management and other key personnel, and the loss of, or its inability to attract or retain, such persons could affect its business, results of operations, financial condition and cash flows.
  • The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • Fraud, theft, employee negligence or similar incidents may adversely affect its results of operations and financial condition.
  • Information relating to its installed capacities and the historical capacity utilization of the company manufacturing facility included in this Red Herring Prospectus is based on various assumptions and estimates and future production and capacity utilization may vary.
  • Its ability to pay any dividends will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
  • Its promoter and the promoter group will jointly continue to retain majority shareholding in the Company after the Issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
  • The company has issued Equity Shares during the last one year at a price may be below the Issue price.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
  • The Objects of the Issue for which funds are being raised, are based on its management estimates and the same have not been appraised by any bank or financial institution or any independent agency. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue".
  • The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
  • Any future issuance of its Equity Shares may dilute prospective investors' shareholding, and sales of its Equity Shares by the company major shareholders may adversely affect the trading price of its Equity Shares.
  • The Issue Price of the Equity Shares may not be indicative of the market price of the Equity Shares after the Issue.
  • Investors other than retail (including non- institutional investors, QIBs and Corporate Bodies) are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Amount) at any stage after submitting an application.
  • Investors other than retail (including non- institutional investors, QIBs and Corporate Bodies) are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Amount) at any stage after submitting an application.
  • Industry information included in this Red Herring Prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.

The Issue type of Leo Dryfruits & Spices Trading Ltd is Book Building - SME.

The minimum application for shares of Leo Dryfruits & Spices Trading Ltd is 2000.

The total shares issue of Leo Dryfruits & Spices Trading Ltd is 4830000.

Public issue of upto 48,30,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Leo Dryfruits & Spices Trading Private Limited ("Leo Dryfruits", or "The Company" or "The Issuer") for cash at a price of Rs. 52 per equity share including a share premium of Rs. 42 per equity share (the "Issue Price") aggregating to Rs. 25.12 crores ("The Issue"), of which 2,46,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 52 per equity share including a share premium of Rs. 42 per equity share aggregating to Rs.1.28 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., net issue of 45,84,000 equity shares of face value of Rs. 10/- each at a price of Rs. 52 per equity share including a share premium of Rs. 42 per equity share aggregating to Rs. 23.84 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 27 % and 25.62 % respectively of the post issue paid up equity share capital of the company. Issue Price: Rs. 52 per equity share of face value of Rs. 10 each. Anchor Investor Issue Price: Rs. 52 per equity share. The Issue Price is 5.20 times of the face value. Bid can be made for a minimum of 2000 equity shares and in multiples of 2000 equity shares.