Valencia IPO - Grey Market, GMP & Reviews

IPO Details

About Valencia Nutrition Ltd

The venture was conceived by a group of highly experienced nutrition and health care professionals in April, 2013. The company has a dynamic R&D team with a cumulative 20+ years of industry experience. The founder is a serial entrepreneur in the health care, pharmaceutical and nutrition research and development space. She holds a master's degree in biomedical engineering (with a super specialisation in medical robotics) from New Jersey, USA and a bachelor’s degree in biomedical engineering from Manipal Institute of Technology, India.

They innovate top of the line nutrition products that are healthy, yummy &, fun. We are deeply passionate about promoting wellness, not just through the products we make, but also through facilitating boundless, joyful & disease-free living in any and every way we can.

They are uncompromising on quality – your health & safety is their top-most priority and is the driving force behind every decision we make. We strive hard to earn your trust and love. We want you to feel safe holding and consuming our products, and know that you can rely on us. Because ultimately, we believe what we share with you is a partnership for life & wellness, not a mere transactional relationship between company and consumer.

Any Valencia product you hold in your hands is nurtured with a lot of care & passion, science & age old wisdom. As a team, we have over 30 years of experience in the pharmaceutical, healthcare and nutrition industries. The active ingredients we add (which, by the way, are pharmaceutical grade, a notch above food grade) are sourced with high diligence, rigorously tested and thoroughly validated.

They have an exciting pipeline of products for wellness, fitness, disease management & mass nutrition. We also partner with other companies for product development, sales & marketing.

India’s first low-calorie functional beverage that comes in a range of flavours, is loaded with nutrition and is extremely tasty. Bounce provides a truly alternative hydration option to boring plain water, sugary aerated drinks, fruit juice and energy drinks with excessive caffeine. The product was test marketed in Bangalore, Chennai, Goa, Surat, Ahmedabad & South Mumbai and the customer validation in a short time of 9 months has been highly encouraging.

Incorporated in 2013, Bangalore based Valencia Nutrition Limited is an applied biotechnology startup. Valencia Nutrition Limited is engaged in developing, researching, marketing and quality control activities of high-quality nutraceutical products (multi-nutrient functional beverages which are used to prevent lifecycle related diseases). The company works under two brand names which are Bounce Superdrinks & VitaMe Enriched Beverage.

Under Bounce Superdrinks, Valencia sells out low-calorie hydration drink range including Vitalize, Sports, Glucose, Gluco Fizz, Lemon Fizz, and Jeera Fizz products. VitaMe brand consists of multi-nutrient drinks which are Watermelon Prebiotic, Guava Electrolite, Lemon - Lime Antioxidant Burst and Litchi- Mint Unwind. Valencia has an in-house research and development team to create formulations and add new products by testing and developing at final saleable forms. The company outsources the manufacturing, packaging, bottling and transportation work.

Company was incorporated as Valencia Nutrition Private Limited on April 01, 2013 under the Companies Act, 1956 with the Registrar of Companies, Karnataka bearing Registration No. 068380. Subsequently, the status of the Company was changed to public limited company and the name of the Company was changed to Valencia Nutrition Limited vide Special Resolution dated March 09, 2018. A fresh certificate of incorporation consequent to conversion into public limited company was issued to our Company by the Registrar of Companies, Bangalore on April 09, 2018. The Company’s Corporate Identity Number is U51909KA2013PLC068380.

ISSUE DETAILS

PUBLIC ISSUE OF 15,72,000 EQUITY SHARES OF 10 EACH (“EQUITY SHARES”) OF VALENCIA NUTRITION LIMITED (“VNL” OR THE “COMPANY”) FOR CASH AT A PRICE OF ` 46 PER SHARE (THE “ISSUE PRICE”), AGGREGATING TO ` 723.12 LAKHS (“THE ISSUE”), CONSISTING OF FRESH ISSUE OF 13,05,000 EQUITY SHARES AGGREGATING TO ` 600.30 LAKHS AND AN OFFER FOR SALE 2,67,000 EQUITY SHARES BY THE SELLING SHAREHOLDERS AGGREGATING TO ` 122.82 LAKHS (“OFFER FOR SALE”), OF WHICH 84,000 EQUITY SHARES OF ` 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE “MARKET MAKER RESERVATION PORTION”). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 14,88,000 EQUITY SHARES OF ` 10 EACH IS HEREINAFTER REFERRED TO AS THE “NET ISSUE”. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 28.15% AND 26.64%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

To part finance its needs for construction of new office-R & D center-Pre-mix Lab (Rs. 2 cr.), Key Lab equipment (Rs. 0.52 cr.), Create brand value and increase geographical reach (Rs. 1.85 cr.), General corpus fund (Rs. 0.90 cr.), VNL is coming out with a maiden IPO of 1572000 equity shares of Rs. 10 each at a fixed price of Rs. 46 per share to mobilize Rs. 7.23 cr. It comprises fresh equity issue of 1305000 shares and an offer for sale of 267000 shares. The issue opens for subscription on 23.12.19 and will close on 27.12.19. The minimum application is to be made for 3000 shares and in multiples thereon, thereafter. Post allotment, shares will be listed on BSE SME (Start-up). The issue constitutes 28.15% of the post issue paid-up capital of the company. VNL is spending Rs. 0.88 cr. for the entire issue proceeds of this IPO.

The issue is solely lead managed by Aryaman Financial Services Ltd. and Bigshare Services Pvt. Ltd. is the registrar to the issue. Aryaman Capital Markets Ltd. is the market maker for this issue. Having issued initial equity at par, VNL has raised further equity in the price range of Rs. 600 to Rs.1353.60 per share between March 2014 and November 2019. It has also issued bonus shares in the ratio of 12 for 1 in November 2019. The average cost of acquisition of shares by the promoters is Rs. 0.77, Rs. 46.15, Rs. 53.33, Rs. 55.49 and Rs. 69.75 per share. Post issue, VNL's paid-up capital will stand enhanced from Rs. 4.28 cr. to Rs. 5.58 cr.

Thus the company mulls market capitalization of Rs. 25.69 cr.

Company Financials

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