Empyrean Cashews Limited IPO (Empyrean Cashews IPO) Detail

The company produces and sells cashews under the brand name Krishival Cashews. Incorporated in 2014, Empyrean Cashews Limited engages in the processing of raw cashew nuts into flavoured cashews.

Empyrean Cashews Limited offers products on the domestic market with a network of more than thirty (30) distributors across India. The company product portfolio includes different flavours of cashews such as salted, pepper, chilli and assorted – all offered in different grades and packaging formats.

The company products are available on Flipkart, Messho and India Mart.

Empyrean Cashews has processing and packaging units in Village Halkarni and Village Shinoli, Kolhapur, Maharashtra. The company also has one subsidiary namely, Siddhivinayak Cashew Industries Private Limited.

Competitive Strengths:

  1. Quality Assurance.
  2. Strategically located manufacturing facilities with state of the art infrastructure and integrated processing and packaging facilities.
  3. Customers’ Satisfaction and their retention.
  4. Widespread distribution network and presence across various retail channels for timely delivery.
  5. Experienced and professional senior management team. 

Company Promoters:

Aparna Morale Bangar, Nana Prakash Mhaske and Anant Pandurang Kulkarni are the company promoters. 

Company Financials:

ParticularsFor the year/period ended (Rs in Lakhs)
Total Assets2,191.202,156.191,641.481,610.58
Total Revenue2,722.712,858.084,438.695,047.27
Profit After Tax166.6966.7495.6064.95

Objects of the Issue:

The company intends to utilize the proceeds of the Issue to meet the following objectives:

  1. To meet the Working Capital Requirements.
  2. General Corporate Purposes.
  3. To meet the Issue Expenses.

Empyrean Cashews IPO Details

IPO Opening DateMar 21, 2022
IPO Closing DateMar 23, 2022
Issue TypeFixed Price Issue IPO
Face Value₹10 per equity share
IPO Price₹37 per equity share
Market Lot3000 Shares
Min Order Quantity3000 Shares
Listing AtNSE SME
Issue Size5,247,000 Eq Shares of ₹10
(aggregating up to ₹19.41 Cr)
Fresh Issue5,247,000 Eq Shares of ₹10
(aggregating up to ₹19.41 Cr)
Retail Shares Offered50% of the net offer
NII (HNI) Shares Offered50% of the net offer

Empyrean Cashews IPO Tentative Timetable

The Empyrean Cashews IPO open date is Mar 21, 2022, and the close date is Mar 23, 2022. The issue may list on Mar 31, 2022.

IPO Open DateMar 21, 2022
IPO Close DateMar 23, 2022
Basis of Allotment DateMar 28, 2022
Initiation of RefundsMar 30, 2022
Credit of Shares to Demat AccountMar 30, 2022
IPO Listing DateMar 31, 2022

Empyrean Cashews IPO Lot Size

The Empyrean Cashews IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹111,000).

ApplicationLotsSharesAmount (Cut-off)

Empyrean Cashews IPO Promoter Holding

Pre Issue Share Holding56.99%
Post Issue Share Holding41.88%

3rd Party IPO Application

SBI Bank, Axis Bank, Bank of Baroda (BoB), RBL Bank and IndusInd Bank.

Empyrean Cashews IPO Review

The company is operating in a fragmented and highly competitive field. Its financial data does not match the issue pricing which is aggressive even on the basis of super FY22 performance so far. Its capacity utilization is also very poor. There is no harm in ignoring this pricy issue.

Empyrean Cashews IPO Subscription Status (Bidding Detail)

The Empyrean Cashews IPO is subscribed 2.19 times on Mar 23, 2022 3:12:00 PM. The public issue subscribed 1.51 times in the retail category, times in the QIB category, and 2.87 times in the NII category.

CategorySubscription (times)

Company Contact Information

Empyrean Cashews Limited
1309, Lodha Supremus Powai,
Saki Vihar Road,
opposite MTNL Office, Mumbai – 400072
Phone: +918779558264
Email: cs@krishival.com

Empyrean Cashews IPO Registrar

Purva Sharegistry India Pvt Ltd

Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com

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