Ohkajhu chain launching initial public offering

From a passion and dedication to growing organic vegetables, with the goal of providing health-conscious customers with pesticide- and chemical-free produce, Ohkajhu restaurants have garnered strong support from consumers. 

This has led to the brand becoming widely recognised as a health-conscious restaurant, expanding its customer base from Chiang Mai to Bangkok, Chonburi and Rayong.

Ohkajhu has grown significantly and is preparing to offer 159 million new common shares to the public (IPO) to raise funds and list on the Stock Exchange of Thailand (SET) this year.

The IPO subscription will be open from September 23-25, with a set offering price of 6.70 baht per share. The shares are expected to begin trading on the SET around October 4.

Chalakorn Eakchaipatanakul, chief executive of Pluk Phak Praw Rak Mae Co Ltd (Public), or OKJ, a company providing food, beverage, and health products made from organic vegetables and premium fresh ingredients, shared the story of how the organic farming business evolved into the Ohkajhu restaurant. 

The journey began with two partners: Jirayut Phuwapunphon, chief smart farming officer, an expert in agriculture and integrated organic farming, and Worawut Suchaibunsiri, chief supply chain officer, with expertise in engineering. They applied their knowledge in agricultural machinery, greenhouse construction, and organic fertiliser production to increase yield volume and efficiency.

It was the perfect synergy, combining each individual’s diverse expertise to build the business from the ground up under the slogan "Pluk Phak Praw Rak Mae" (Growing Vegetables because I Love My Mother) and continuously expanding.

By 2013, they saw an opportunity to further their business, opening the first health-focused restaurant in San Sai district, Chiang Mai, under the Ohkajhu brand, which was well received by consumers.

With the perspective that healthy food and beverages are not just a passing trend but a mega-trend, as consumers increasingly choose nutritious and health-promoting food, the company expanded branches to Bangkok, Chonburi and Rayong.

However, during the branch-expansion planning, they realised that while opportunities were plentiful, investment capital was equally crucial.

Between 2017 and 2018, the company began planning to raise funds by taking OKJ public, with the aim of using the proceeds to grow the business, enhance growth potential, and ensure sustainable long-term development, including bringing in professionals to help develop the business.

At the same time, OKJ will also play a role in supporting communities, families, farmers, customers and stakeholders, helping them enjoy long, healthy, and happy lives together.

Having capital will also help fulfil the dream of expanding the business, opening new branches, and launching new ventures that continue to promote the core business, Ohkajhu.

This year, the company launched two new brands: the beverage shop Oh! Juice and the Ohkajhu Wrap & Roll store, which offers products like salads and salad wraps (grab & go).

Currently, the company operates 36 branches of the Ohkajhu restaurant brand, one branch of Ohkajhu Wrap & Roll, and six branches of the Oh! Juice beverage brand.

The entry of PTT Oil and Retail Business Pcl (OR) has been a significant supporter of OKJ. Through this collaboration, OKJ has developed products for distribution in more than 450 Café Amazon branches, with more than eight product lines (stock keeping units), allowing wider customer access and increasing repeat purchase frequency.

This partnership also expands the customer base without requiring investment in constructing and decorating new restaurants, while providing insights into traffic data for future branch expansions.

“When the Covid-19 crisis led to lockdowns, impacting all industries, we adapted within about 10 days and switched to delivery service, which yielded quite satisfactory sales. This shows that we adapted quickly, learned fast, and continued to grow the business even during a crisis,” Chalakorn said.

OKJ's expertise in integrated organic farming, covering every process from planting to harvesting, and quality control during transportation to various areas, gives it a stronger foundation than other companies.

Currently, OKJ operates five organic farms in Chiang Mai, covering a total area of more than 380 rai, with an annual production volume of about 850,000 tonnes.

Part of the capital raised will be invested in technology to increase the planting process by 70%.

“We don't focus on how to win or become a leader in competition. Instead, we focus on developing and growing the business sustainably, ensuring it can be passed on to future generations. We believe we’ve already laid a good foundation, but we continue to innovate, adding new restaurant brands and products,” Chalakorn said.