Pearl Green Clubs and Resorts Limited to raise Rs 1171.80/- Lakhs through SME IPO, issue opens on June 27, 2022

Ahmedabad (Gujarat) [India] June 24 (ANI/NewsVoir): Pearl Green Clubs And Resorts Limited (PGCRL) is an Ahmedabad-based company engaged in the business of agricultural and allied activities.
The Company is actively engaged in the trading business of Agricultural Products such as of Wheat Corn, Rice, Seeds Cotton, Gram, Pulses, Cereals Peas etc. The Company provides a seamless bond between the Farmers, Private players and Consumers to ensure that the Indian markets for agricultural products continue to flourish. The Company provides a bridge between the Farmers, Market operators and Consumers thus becomes integral part of the agricultural business.
The Company has performed well and has shown remarkably good results, for the last two fiscals, PGCRL has posted total revenue/net profits of Rs. 56.97 Lakhs / Rs. 3.91 Lakhs (FY20) and Rs 375.74 Lakhs / Rs 6.54 Lakhs (FY21). For the first nine months of FY 21-22 ended on December 31, 2021, it has earned a net profit of Rs. 61.54 Lakhs on total revenue of Rs 447.41 Lakhs.
To further expand its business and to diversify the Company is proposing to enter the business of Tourism and Hospitality. The Company has plans to open a resort in the name of Pearl Green Clubs and Resort in Gandhinagar, Gujarat, a hot destination for the Tourists and other business houses because of its proximate to the dream project of our Prime Minister "Gujarat International Financial Tec (GIFT) City". The Company already had acquired an area of 3,53,804 sq. ft. and is planning to construct an area 97,500 sq. ft. which is just 28 per cent of the total land, with 40 rooms and all amenities like swimming Pool, Banquets, clubs etc.
The Company is Promoted by the professional having a vast experience in the hospitality sector under the guidance and the leadership of Hemant Singh Jhala, Chairman and Managing Director who has nearly three decades of experience in the agriculture and hospitality sector.
To part finance its needs for construction of this proposed resort and other general corporate purposes, PGCRL is coming out with an IPO of 6,30,000 equity shares of Rs. 10 each at a fixed price of Rs 186 per share to raise Rs 1171.80/- Lakhs from the market.
The issue opens for subscription on June 27, 2022, and will close on June 29, 2022. Minimum application is to be made for 600 shares and in multiples thereon. A retail-individual investor can apply for up to 1 lot (600 shares or Rs 1,11,600/-). Post allotment, shares will be listed on SME Exchange of BSE Limited.
The Lead Manager to the issue is Fast track finsec Private Limited.
The Company is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed a Prospectus with the RoC, Ahmedabad, BSE - SME Exchange & SEBI. The Prospectus is available on the website of SEBI at www.sebi.gov.in, the website of the Lead Manager at www.ftfinsec.com, the website of the BSE Limited at www.bseindia.com and the website of the Issuer Company at www.pearlgreenclubsresort.com.
Investors should note that investment in Equity Shares involves a high degree of risk. For details, investors should refer to and rely on the Prospectus including the section titled "Risk Factors" beginning on page no. 18 of the Prospectus.
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