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DSM Fresh Foods Ltd. IPO is a book build issue of ₹59.06 crores. The issue is entirely a fresh issue of 0.59 crore shares of ₹59.06 crore.
DSM Fresh Foods IPO bidding started from Sep 26, 2025 and ended on Oct 6, 2025. The allotment for DSM Fresh Foods IPO was finalized on Oct 7, 2025. The shares got listed on BSE SME on Oct 9, 2025.
DSM Fresh Foods IPO price band is set at ₹100.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹2,40,000.00 (2,400 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (3,600 shares), amounting to ₹3,60,000.
Narnolia Financial Services Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Alacrity Securities Ltd..
Refer to DSM Fresh Foods IPO RHP for detailed Information.
| IPO Date | September 26, 2025 to October 6, 2025 |
| Listing Date | October 9, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹95 to ₹100 per share |
| Issue Price Final | ₹100 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 59,06,400 shares (aggregating up to ₹59.06 Cr) |
| Reserved for Market Maker | 3,31,200 shares Alacrity Securities Ltd. (aggregating up to ₹3.31 Cr) |
| Net Offered to Public | 55,75,200 shares (aggregating up to ₹55.75 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,63,80,738 shares |
| Share Holding Post Issue | 2,22,87,138 shares |
DSM Fresh Foods IPO offers total 59,06,400 shares. Out of which 27,82,800 (47.11%) allocated to QIB, 11,16,000 (18.89%) allocated to QIB (Ex- Anchor), 8,38,800 (14.20%) allocated to NII 19,53,600 (33.08%) allocated to RII and 16,66,800 (28.22%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,31,200 (5.61%) |
| QIB Shares Offered | 27,82,800 (47.11%) |
| − Anchor Investor Shares Offered | 16,66,800 (28.22%) |
| − QIB (Ex. Anchor) Shares Offered | 11,16,000 (18.89%) |
| NII (HNI) Shares Offered | 8,38,800 (14.20%) |
| − bNII > ₹10L | 5,61,600 (9.51%) |
| − sNII < ₹10L | 2,77,200 (4.69%) |
| Retail Shares Offered | 19,53,600 (33.08%) |
| Total Shares Offered | 59,06,400 (100.00%) |
DSM Fresh Foods IPO raises ₹16.67 crore from anchor investors. DSM Fresh Foods IPO Anchor bid date is September 25, 2025. DSM Fresh Foods IPO Anchor Investors list
| Bid Date | September 25, 2025 |
| Shares Offered | 16,66,800 |
| Anchor Portion Size (In Cr.) | 16.67 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 11, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 11, 2026 |
DSM Fresh Foods IPO opens on September 26, 2025, and closes on October 6, 2025.
| IPO Open Date | Fri, Sep 26, 2025 |
| IPO Close Date | Mon, Oct 6, 2025 |
| Tentative Allotment | Tue, Oct 7, 2025 |
| Initiation of Refunds | Wed, Oct 8, 2025 |
| Credit of Shares to Demat | Wed, Oct 8, 2025 |
| Tentative Listing Date | Thu, Oct 9, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Oct 6, 2025 |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,40,000 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,40,000 |
| S-HNI (Min) | 3 | 3,600 | ₹3,60,000 |
| S-HNI (Max) | 8 | 9,600 | ₹9,60,000 |
| B-HNI (Min) | 9 | 10,800 | ₹10,80,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in May 2015, DSM Fresh Foods Limited is engaged in the business of fresh meat and ready-to-cook/eat non-veg products retailer.
The company operating under the brand name Zappfresh, specialises in the online retail of fresh meat and ready-to-cook/eat products.
The user-friendly website and app offer diverse, fresh, hygienically sourced meats, including poultry, seafood, and exotic options. The company ensures that all produce reaches consumers fresh.
Zappfresh offers quality fresh meat via its website and mobile app, available on Android and ios, with over 100,000 downloads on the Play Store.
Products:
As of August 13, 2025, the company had 46 employees.
Competitive Strength:
DSM Fresh Foods Ltd.'s revenue increased by 45% and profit after tax (PAT) rose by 94% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 84.04 | 50.00 | 22.01 |
| Total Income | 131.47 | 90.68 | 56.61 |
| Profit After Tax | 9.05 | 4.67 | 2.74 |
| EBITDA | 17.05 | 9.58 | 3.41 |
| NET Worth | 49.09 | 38.04 | 16.54 |
| Reserves and Surplus | 32.70 | 37.95 | 16.46 |
| Total Borrowing | 31.70 | 7.65 | 2.07 |
| Amount in ₹ Crore | |||
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 20.78% |
| ROCE | 24.71% |
| Debt/Equity | 0.65 |
| RoNW | 20.78% |
| PAT Margin | 5.16% |
| EBITDA Margin | 13.04% |
| Price to Book Value | 3.37 |
| Market Capitalization | 225.10 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.53 | 4.06 |
| P/E (x) | 18.28 | 24.87 |
The Company DSM Fresh Foods IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Capital Expenditure Requirement | 10.68 |
| 2 | Marketing Expenditure | 15.00 |
| 3 | Working Capital Requirement | 25.00 |
| 4 | Unidentified Acquistion and General Corporate Purposes | 2.18 |
[Dilip Davda] DFFL is Delhi-NCR region centric online non-veg food retailer. The company posted growth in its top and bottom lines for the reported periods. It is operating in a highly competitive and fragmented segment. Based on its recent financial data, the issue appears fully priced. Well-informed/cash surplus investors may park moderate funds for long term. Read detail review...
| Listing Date | October 9, 2025 |
| BSE Script Code | 544568 |
| NSE Symbol | |
| ISIN | INE0SUM01015 |
| Final Issue Price | ₹100 per share |
| BSE Listing Group | MT (Trade to Trade) |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹100.00 |
| Open | ₹120.00 |
| Low | ₹120.00 |
| High | ₹126.00 |
| Last Trade | ₹126.00 |
DSM Fresh Foods Ltd.
115-116, First Floor
Vishal Tower, District Centre
Janakpuri, Janakpuri B-1,
West Delhi, New Delhi, 110058
Phone: + 91 70422 88558
Email: compliance@zappfresh.com
Website: https://www.zappfresh.com/
Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
DSM Fresh Foods IPO is a SME IPO of 59,06,400 equity shares of the face value of ₹10 aggregating up to ₹59.06 Crores. The issue is priced at ₹100 per share. The minimum order quantity is 1200.
The IPO opens on September 26, 2025, and closes on October 6, 2025.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in DSM Fresh Foods IPO using UPI as a payment gateway. Zerodha customers can apply in DSM Fresh Foods IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in DSM Fresh Foods IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The DSM Fresh Foods IPO opens on September 26, 2025 and closes on October 6, 2025.
DSM Fresh Foods IPO lot size is 1200, and the minimum amount required for application is ₹2,40,000, with 2 lots being the minimum application size.
You can apply in DSM Fresh Foods IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for DSM Fresh Foods IPO will be done on Tuesday, October 7, 2025, and the allotted shares will be credited to your demat account by Wednesday, October 8, 2025. Check the DSM Fresh Foods IPO allotment status.
The DSM Fresh Foods IPO listing date is on Thursday, October 9, 2025.
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