Freshara Agro Exports Ltd

Freshara Agro Exports will hold a meeting of the Board of Directors of the Company on 22 May 2025.Powered by Capital Market - Live

The scrip was listed at Rs 135, a premium of 16.38% over the initial public offer (IPO) price. The stock was currently down 2.22% compared to its listing price. The counter hit a high of Rs 140 and a low of Rs 128.25. About 25.13 lakh shares of the company changed hands at the counter. Freshara Agro Exports' IPO was subscribed 150.15 times. The issue opened for bidding on 17 October 2024 and it closed on 21 October 2024. The price band of the IPO was set at Rs 110 to Rs 116 per share. The IPO comprised fresh issue of 64,99,200 shares. The company intends to utilize the net proceeds for capital expenditure, working capital requirement and for general corporate purpose. Ahead of the IPO, Freshara Agro Exports on 16 October 2024, raised Rs 20.43 crore from anchor investors. The board allotted 17.61 lakh shares at Rs 116 per share to 7 anchor investor. Freshara Agro Exports is engaged in the procurement, processing and exporting of preserved Gherkins and other pickled commodities from India to different countries of the world. The company's procurement focuses on raw produce from local farmers in Tamil Nadu, Karnataka, and parts of Andhra Pradesh. The company offers a diverse range of products, including gherkins, baby corn, jalapenos, and various pickled vegetables. Approximately 70% of the produce is classified as not ready-to-eat and is supplied directly to factories for further processing into finished products. The remaining 30% is distributed to food brokers and traders in the international market. As of 30 September 2024, the company had 135 employees. The company recorded revenue from operations of Rs 103.65 crore and net profit of Rs 11.37 crore for the period as on 30 September 2024. Powered by Capital Market - Live