Home >> Blog >> City Crops Agro Limited IPO - Review, Valuation & Todays GMP

City Crops Agro Limited IPO - Review, Valuation & Todays GMP


City Crops Agro Limited IPO

City Crops Agro Limited - Complete Overview

Founded in 2013, City Crops Agro Limited, originally established as "Bhagya Agro-Care Private Limited," is primarily involved in the trade of various products, including seeds and agricultural commodities such as Rice, Wheat, Onions, Potatoes, Tomatoes, Isabgol, and Pulses.

The company procures these agricultural products from manufacturers through advance payments and then distributes them to its network of distributors. 

Additionally, City Crops Agro Limited engages in contract manufacturing by leasing agricultural land for the cultivation of Cucumbers, Onions, and Castor to meet market demand. Currently, the company manages approximately 47.31 acres of land for agricultural production.

With a team of 8 employees, the company achieved a revenue of Rs 2461.10 lacs in the financial year 2023.


What does the company do? 

City Crops Agro Limited is primarily involved in the trade of various products, including seeds and agricultural commodities such as Rice, Wheat, Onions, Potatoes, Tomatoes, Isabgol, and Pulses.


Company Products 

Seeds and agricultural commodities such as Rice, Wheat, Onions, Potatoes, Tomatoes, Isabgol, and Pulses.



IPO Overview 

The City Crops Agro Limited IPO date is set to open on September 26, 2023, and close on September 29, 2023, with an expected listing date of October 10, 2023. 

The City Crops Agro Limited IPO price is fixed at Rs. 25 per share, based on a face value of Rs. 10 per share. The total issue size for this upcoming SME IPO amounts to Rs. 15.00 Crores. 

In terms of allocation, the company has designated 50% of the shares for retail investors and the remaining 50% for other investors.


City Crops Agro Limited IPO timetable (Tentative)



IPO Opening Date

26 September 2023

IPO Closing Date

29 September 2023

IPO Allotment Date 

5 October 2023

Refund initiation 

6 October 2023

IPO Listing Date

10 October 2023


City Crops Agro Limited IPO Details 

IPO opening & closing date 

26 September to 29 September 2023

Face value 

Rs.10 per Share

Issue Price

Rs.25 per Share

Lot Size


Price of 1 lot


Issue Size

6,000,000 Shares (aggregating up to Rs. 15.00 Cr)

Offer for sale 


Fresh issue 

6,000,000 Shares (aggregating up to Rs. 15.00 Cr)

Listing at


Issue Type 

Fixed Price Issue IPO


Skyline Financial Services Private Ltd


City Crops Agro Limited IPO Lot Details 

Minimum Lot Investment (Retail)

1 Lot

Maximum Lot Investment (Retail)

13 Lot

Minimum Lot Investment (HNI)

2 Lot


City Crops Agro Limited IPO Reservation

Other Investors share Portion


Retail Investors share Portion



Company Financial

Amount in Lakhs


31 Mar 2021

31 Mar 2022

30 Sep 2022

Total Assets 




Total Revenue








Net worth




Reserve & Surplus 




Total Borrowings





Breakup of the Top Five and Top Ten Customers


FY23 (In %) 

FY22 (In %) 

FY21 (In %)

Top 5 Customers 




Top 10 Customers 





Objective of the Issue 

The company plans to allocate the net proceeds for the following purposes:

  • Addressing the company's working capital needs.
  • Supporting general corporate endeavours.
  • Covering the expenses associated with the issuance.


Promoters and Management of City Crops Agro Limited

Mr. Kaupilkumar Hasmukhbhai Shah and Mrs. Shitalben Kaupilkumar Shah are the promoters of the company.

Pre-issue Promoter Shareholding


Post-issue Promoter Shareholding



Peer Comparison

Below are the listed peers of CCAL

Company Name

EPS (in Rs.)  

P/E Ratio




MK Exim (India) Ltd



Alstone Textiles (India) Ltd




IPO's Valuations

To assess the IPO valuation, we can make use of the information presented in the company's DRHP. City Crops Agro Limited IPO price has been set at ?25 per share, and the EPS is recorded at 1.13. Consequently, based on the issue price, the company's P/E ratio is calculated to be 22.12.


Dividend Policy

According to the CCAL IPO DRHP, the company has not issued any dividends in the past. The likelihood of future dividend payments is contingent upon the company's financial performance.


IPO's Strengths

  • Sustained organizational steadiness coupled with proficient management capabilities.
  • Seamless execution of operational processes.
  • Clearly delineated organisational framework.
  • Established supplier connections.
  • An extensive array of available products.


IPO Weaknesses 

  • The company has a history of loan repayment defaults.
  • Mr. Kaupilkumar Hasmukhbhai Shah, one of the company's promoters, has previously defaulted on credit card payments.
  • The company has experienced financial losses in the past and may continue to incur losses in the future.
  • The seeds business is susceptible to significant seasonality, which can impact the company's operating results.
  • The company does not possess any cold storage facilities for product storage.
  • A substantial portion of the company's revenue is generated from a limited customer base.
  • The company faces competition from established certified seed manufacturers.
  • Many of the company's products are chemically prepared and harmful to health, potentially requiring future regulatory approvals for trading.
  • Insufficient awareness and knowledge among farmers contribute to their preference for naturally grown seeds over hybrid seeds.




City Crops Agro SME IPO GMP is not yet available



City Crops Agro Limited operates within a highly competitive sector and has incurred financial losses in the past. Furthermore, the company depends on third-party contracts for trading agricultural products. Hence, it is prudent to consider a comprehensive assessment of all relevant factors before making any investment decisions.


Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.


To Read the Prospectus of the Company Click Here to Download the DRHP.




Thank You for reading this blog.
Hope you loved the IPO analysis.
Please Comment Below with your feedback because Your feedback motivates us to deliver more such content.


Follow MUKUL AGRAWAL for the latest IPO news and reviews. You can connect with us on social media platforms like Twitter, Facebook, and Instagram. You can also subscribe to our YouTube Channel for the latest videos of the stock market.


Frequently Asked Questions


City Crops Agro Limited IPO refers to the initial public offering of shares in the urban agriculture company, City Crops Agro Limited. It's an opportunity for investors to buy shares and become stakeholders in the company.


To invest in City Crops Agro Limited IPO, you typically need to have a brokerage account with a participating financial institution. They will provide information on the IPO and guide you through the investment process.


The IPO price for City Crops Agro Limited will be determined by the company and its underwriters. This price is usually disclosed in the IPO prospectus.


The specific IPO date for City Crops Agro Limited will be announced by the company and its underwriters. Keep an eye on financial news and the company's official announcements for updates.

Liked What You Just Read? Share this Post:

Viewer's Thoughts

Any Question or Suggestion

Post your Thoughts


Related Blogs

Sheetal Universal Limited IPO review

SME IPO | 01-12- 2023

Sheetal Universal Ltd. IPO : R...

Explore Sheetal Universal Ltd IPO. Its financial performance, key strengths, weaknesses & market risks. Get Clear view &...

Continue Reading
Marinetrans India Ltd. IPO

SME IPO | 28-11- 2023

Marinetrans India Ltd. IPO: Re...

Discover Marinetrans India Ltd. IPO, its history, financial performance, strengths, weaknesses & key insights for prospe...

Continue Reading
Graphisads Limited IPO

SME IPO | 27-11- 2023

Graphisads Ltd. IPO: Review, V...

Explore Graphisads Ltd. IPO, its history, financial details, strengths, weaknesses & potential insights for prospective ...

Continue Reading

SME IPO | 25-11- 2023

AMIC FORGING Ltd. IPO - Review...

Explore AMIC Forging Ltd, specializing in precision-forged components. Get insights into its IPO details, financials, st...

Continue Reading
Net Avenue Technologies LTD. IPO

SME IPO | 25-11- 2023

Net Avenue Technologies Ltd. I...

Explore Net Avenue Technologies' IPO details, financial performance & market strategies. Navigates the company's strengt...

Continue Reading
Deepak Chemtex LTD. IPO: Review, Valuation, Date & GMP

SME IPO | 23-11- 2023

Deepak Chemtex LTD. IPO: Revie...

Explore Deepak Chemtex IPO.its strengths, weaknesses, Financials & Valuation. Make Informed Decisions for Your Future wi...

Continue Reading
to Open Free Demat Account with
Zero Brokerage