Bookbuilding IPO | ₹59 Cr | Listed at BSE SME | Fri, Sep 26, 2025 - Mon, Oct 6, 2025
DSM Fresh Foods 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 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 (2,400 shares) (based on upper price). The minimum lot size for investment in 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 Open
Fri, Sep 26, 2025
IPO Close
Mon, Oct 6, 2025
Issue Price
₹100 per share
Market Cap (Pre-IPO)
₹225.10 Cr
| IPO Date | 26 Sep to 6 Oct, 2025 |
| Listed on | Thu, Oct 9, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹95 to ₹100 |
| Issue Price | ₹100 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 59,06,400 shares (agg. up to ₹59 Cr) |
| Reserved for Market Maker | 3,31,200 shares Alacrity Securities Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 55,75,200 shares (agg. up to ₹56 Cr) |
| Net Offered to Public | 55,75,200 shares (agg. up to ₹56 Cr) |
| Share Holding Pre Issue | 1,63,80,738 shares |
| Share Holding Post Issue | 2,22,87,138 shares |
| BSE Script Code | 544568 |
| ISIN | INE0SUM01015 |
DSM Fresh Foods IPO comprises a total issue size of 59,06,400 shares. The net offer to the public is 55,75,200 shares, after excluding 3,31,200 shares allotted on a firm basis. Of the Net offer 27,82,800 (49.91%) are allocated to QIB, 8,38,800 (15.05%) allocated to NII 19,53,600 (35.04%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 27,82,800 | 49.91% | 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 | 15.05% | 14.20% |
| − bNII > ₹10L | 5,61,600 | 9.51% | |
| − sNII < ₹10L | 2,77,200 | 4.69% | |
| Retail Shares Offered | 19,53,600 | 35.04% | 33.08% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,31,200 | 5.61% | |
| Total Shares Offered | 59,06,400 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
| 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 |
DSM Fresh Foods IPO raises ₹16.67 crore from anchor investors. DSM Fresh Foods IPO Anchor bid date is September 25, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Sep 25, 2025 |
| Shares Offered | 16,66,800 |
| Anchor Portion (₹ Cr.) | 16.67 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Nov 11, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Jan 11, 2026 |
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 | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
| KPI | Mar 31, 2025 |
|---|---|
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.53 | 4.06 |
| P/E (x) | 18.28 | 24.87 |
| Promoter Holding | 38.24% | 28.11% |
| Market Cap | ₹225.10 Cr. |
The DSM Fresh Foods IPO is subscribed 1.36 times on October 6, 2025 5:04:47 PM (Day 6). The public issue subscribed 0.96 times in the individual investors category, 1.53 times in the QIB category, and 2.06 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.53 | 11,16,000 | 17,05,200 | 0 |
| NII* | 2.06 | 8,38,800 | 17,28,000 | 0 |
| bNII (bids above ₹10L) | 2.71 | 5,61,600 | 15,22,800 | |
| sNII (bids below ₹10L) | 0.74 | 2,77,200 | 2,05,200 | |
| Individual Investor | 0.96 | 19,53,600 | 18,79,200 | 0 |
| Total | 1.36 | 39,08,400 | 53,12,400 | 874 |
Total Application : 874
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead manager(s) fees including underwriting commission | 1.00 |
| 2 | Brokerage, selling commission and upload fees | 3.50 |
| 3 | Registrars to the issue | 0.03 |
| 4 | Legal Advisors | 0.10 |
| 5 | Printing, advertising and marketing expenses | 0.88 |
| 6 | Regulators including stock exchanges | 0.14 |
| 7 | Others, if any (Advisors to the company, Peer Review Auditors, and other misc. expenses like printing & stationery etc.) | 0.56 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹100.00 |
| Open | ₹120.00 |
| Low | ₹120.00 |
| High | ₹126.00 |
| Last Trade | ₹126.00 |
Lead Manager Reports
DSM Fresh Foods IPO is a SME IPO of 59,06,400 equity shares of the face value of ₹10 aggregating up to ₹59 Crores. The issue is priced at ₹100 per share. The minimum order quantity is 1200.
The IPO opens on Fri, Sep 26, 2025, and closes on Mon, Oct 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 Fri, Sep 26, 2025 and closes on Mon, Oct 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 Wed, Oct 8, 2025. Check the DSM Fresh Foods IPO allotment status.
The DSM Fresh Foods IPO listing date is on Thu, Oct 9, 2025.
