Bookbuilding IPO | ₹9 Cr | Listed at NSE SME | Mon, Aug 7, 2023 - Wed, Aug 9, 2023
Srivari Spices IPO is a book build issue of ₹9.00 crores. The issue is entirely a fresh issue of 0.21 crore shares of ₹9.00 crore.
Srivari Spices IPO bidding started from Aug 7, 2023 and ended on Aug 9, 2023. The allotment for Srivari Spices IPO was finalized on Aug 14, 2023. The shares got listed on NSE SME on Aug 18, 2023.
Srivari Spices IPO price band is set at ₹42 per share. The lot size for an application is 3,000. The minimum amount of investment required by an retail is ₹1,26,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,52,000.
GYR Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to Srivari Spices IPO RHP for detailed Information.
IPO Open
Mon, Aug 7, 2023
IPO Close
Wed, Aug 9, 2023
Issue Price
₹42 per share
Market Cap (Pre-IPO)
₹30.00 Cr
| IPO Date | 7 to 9 Aug, 2023 |
| Listed on | Fri, Aug 18, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹40 to ₹42 |
| Issue Price | ₹42 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 21,42,000 shares (agg. up to ₹9 Cr) |
| Reserved for Market Maker | 1,08,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹0.4536 Cr) |
| Fresh Issue (Ex Market Maker) | 20,34,000 shares (agg. up to ₹9 Cr) |
| Net Offered to Public | 20,34,000 shares (agg. up to ₹9 Cr) |
| Share Holding Pre Issue | 50,00,000 shares |
| Share Holding Post Issue | 71,42,000 shares |
| NSE Symbol | SSFL |
| ISIN | INE0ON201012 |
Srivari Spices IPO comprises a total issue size of 21,42,000 shares. The net offer to the public is 20,34,000 shares, after excluding 1,08,000 shares allotted on a firm basis. Of the Net offer 10,14,000 (49.85%) are allocated to QIB, 3,06,000 (15.04%) allocated to NII 7,14,000 (35.10%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 10,14,000 | 49.85% | 47.34% |
| − Anchor Investor Shares Offered | 6,06,000 | 28.29% | |
| − QIB (Ex. Anchor) Shares Offered | 4,08,000 | 19.05% | |
| NII (HNI) Shares Offered | 3,06,000 | 15.04% | 14.29% |
| Retail Shares Offered | 7,14,000 | 35.10% | 33.33% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,08,000 | 5.04% | |
| Total Shares Offered | 21,42,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,26,000 |
| Retail (Max) | 1 | 3,000 | ₹1,26,000 |
| HNI (Min) | 2 | 6,000 | ₹2,52,000 |
Srivari Spices IPO raises ₹2.55 crore from anchor investors. Srivari Spices IPO Anchor bid date is August 4, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Aug 4, 2023 |
| Shares Offered | 6,06,000 |
| Anchor Portion (₹ Cr.) | 2.55 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Sep 13, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Nov 12, 2023 |
Incorporated in 2019, Srivari Spices and Foods Limited is engaged in the business of manufacturing spices and flour (chakki atta). The company also undertakes the process of marketing and selling its products. The company operates its operations primarily in and around Telangana and Andhra Pradesh.
The product categories of Srivari Spices and Foods are - Spices, Masala, and Atta. These include diverse spice products. The spices are delivered to over 3000 retail outlets and its whole wheat and sharbati atta to over 15000 outlets in Telangana and Andhra Pradesh.
Srivari Spices and Foods gathers its raw materials from various parts of the country and thereafter processes the same to create the final products. The entire procedure is executed with utmost care and without the use of artificial preservatives or chemicals. This way they create organic spices and flour, which carry the freshness and goodness of each ingredient.
The company engages in two business models to sell its end products:
In 2021, Srivari Spices was recognized as the "Best Emerging Spices Brand 2021" by Business Mint. The company has two manufacturing facilities. The first production facility was established in 2019 in Jalpally Village Ranga Reddy District, Telangana from where the company first started its primary operations. The second unit was set up in 2021 at Raikal Village, Farooqnagar Mandal, Ranga Reddy District, Telangana.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 25.68 | 10.68 | 6.27 | 2.36 |
| Total Income | 35.82 | 17.64 | 11.40 | 0.19 |
| Profit After Tax | 3.13 | 0.73 | 0.35 | -0.11 |
| NET Worth | 9.10 | 5.00 | 4.27 | 1.78 |
| Reserves and Surplus | 4.10 | 0.97 | 0.25 | -0.11 |
| Total Borrowing | 12.84 | 2.77 | ||
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the working capital requirements of the Company; and | 5.93 |
| 2 | General corporate purposes | 2.14 |
| KPI | |
|---|---|
| ROE | 44.35% |
| ROCE | 23.65% |
| Debt/Equity | 1.41 |
| RoNW | 24.79% |
| PAT Margin | 8.73% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.45 | |
| P/E (x) | 9.59 | |
| Promoter Holding | 99.90% | |
| Market Cap | ₹30.00 Cr. |
The Srivari Spices and Foods IPO is subscribed 450.03 times on August 9, 2023 7:29:00 PM (Day 3). The public issue subscribed 517.95 times in the retail category, 79.1 times in the QIB category, and 786.11 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 79.1 | 4,08,000 | 3,22,71,000 |
| NII* | 786.11 | 3,06,000 | 24,05,49,000 |
| Retail | 517.95 | 7,14,000 | 36,98,19,000 |
| Total | 450.03 | 14,28,000 | 64,26,39,000 |
Total Application : 1,23,273
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including Merchant Banking fees, Underwriting fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 0.82 |
| 2 | Advertising and Marketing Expenses | 0.02 |
| 3 | Fees payable to the stock exchange(s) and other regulators | 0.05 |
| 4 | Printing & Stationery, Distribution, Postage, etc | 0.01 |
| 5 | Brokerage and selling commission | 0.04 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹42.00 |
| Open | ₹101.50 |
| Low | ₹101.50 |
| High | ₹106.55 |
| Last Trade | ₹106.55 |
Lead Manager Reports
Srivari Spices IPO is a SME IPO of 21,42,000 equity shares of the face value of ₹10 aggregating up to ₹9 Crores. The issue is priced at ₹42 per share. The minimum order quantity is 3000.
The IPO opens on Mon, Aug 7, 2023, and closes on Wed, Aug 9, 2023.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Srivari Spices IPO using UPI as a payment gateway. Zerodha customers can apply in Srivari Spices IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Srivari Spices IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Srivari Spices IPO opens on Mon, Aug 7, 2023 and closes on Wed, Aug 9, 2023.
Srivari Spices IPO lot size is 3000, and the minimum amount required for application is ₹1,26,000.
You can apply in Srivari Spices 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 Srivari Spices IPO will be done on Monday, August 14, 2023, and the allotted shares will be credited to your demat account by Thu, Aug 17, 2023. Check the Srivari Spices IPO allotment status.
The Srivari Spices IPO listing date is on Fri, Aug 18, 2023.
