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:
- Quality Assurance.
- Strategically located manufacturing facilities with state of the art infrastructure and integrated processing and packaging facilities.
- Customers’ Satisfaction and their retention.
- Widespread distribution network and presence across various retail channels for timely delivery.
- Experienced and professional senior management team.
Company Promoters:
Aparna Morale Bangar, Nana Prakash Mhaske and Anant Pandurang Kulkarni are the company promoters.
Company Financials:
| Particulars | For the year/period ended (Rs in Lakhs) | |||
|---|---|---|---|---|
| 31-Oct-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 2,191.20 | 2,156.19 | 1,641.48 | 1,610.58 |
| Total Revenue | 2,722.71 | 2,858.08 | 4,438.69 | 5,047.27 |
| Profit After Tax | 166.69 | 66.74 | 95.60 | 64.95 |
Objects of the Issue:
The company intends to utilize the proceeds of the Issue to meet the following objectives:
- To meet the Working Capital Requirements.
- General Corporate Purposes.
- To meet the Issue Expenses.
Empyrean Cashews IPO Details
| IPO Opening Date | Mar 21, 2022 |
| IPO Closing Date | Mar 23, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹37 per equity share |
| Market Lot | 3000 Shares |
| Min Order Quantity | 3000 Shares |
| Listing At | NSE SME |
| Issue Size | 5,247,000 Eq Shares of ₹10 (aggregating up to ₹19.41 Cr) |
| Fresh Issue | 5,247,000 Eq Shares of ₹10 (aggregating up to ₹19.41 Cr) |
| Retail Shares Offered | 50% of the net offer |
| NII (HNI) Shares Offered | 50% 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 Date | Mar 21, 2022 |
| IPO Close Date | Mar 23, 2022 |
| Basis of Allotment Date | Mar 28, 2022 |
| Initiation of Refunds | Mar 30, 2022 |
| Credit of Shares to Demat Account | Mar 30, 2022 |
| IPO Listing Date | Mar 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).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 3000 | ₹111,000 |
| Maximum | 1 | 3000 | ₹111,000 |
Empyrean Cashews IPO Promoter Holding
| Pre Issue Share Holding | 56.99% |
| Post Issue Share Holding | 41.88% |
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.
| Category | Subscription (times) |
|---|---|
| NII | 2.87 |
| Retail | 1.51 |
| Total | 2.19 |
Company Contact Information
Empyrean Cashews Limited
1309, Lodha Supremus Powai,
Saki Vihar Road,
opposite MTNL Office, Mumbai – 400072
Phone: +918779558264
Email: cs@krishival.com
Website: https://www.krishival.com/
Empyrean Cashews IPO Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: http://www.purvashare.com