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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 ₹42.00 per share . The lot size for an application is 3,000. The minimum amount of investment required by an retail is ₹1,20,000 (3000 shares). The minimum lot size investment for 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 Date | August 7, 2023 to August 9, 2023 |
| Listing Date | August 18, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹40 to ₹42 per share |
| Issue Price Final | ₹42 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 21,42,000 shares (aggregating up to ₹9.00 Cr) |
| Reserved for Market Maker | 1,08,000 shares Nikunj Stock Brokers Ltd. (aggregating up to ₹0.4536 Cr) |
| Net Offered to Public | 20,34,000 shares (aggregating up to ₹8.54 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 50,00,000 shares |
| Share Holding Post Issue | 71,42,000 shares |
Srivari Spices and Foods IPO offers total 21,42,000 shares. Out of which 10,14,000 (47.34%) allocated to QIB, 4,08,000 (19.05%) allocated to QIB, 3,06,000 (14.29%) allocated to NII, 7,14,000 (33.33%) allocated to RII and 6,06,000 (28.29%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,08,000 (5.04%) |
| QIB Shares Offered | 10,14,000 (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 (14.29%) |
| Retail Shares Offered | 7,14,000 (33.33%) |
| Total Shares Offered | 21,42,000 (100.00%) |
Srivari Spices IPO raises ₹2.55 crore from anchor investors. Srivari Spices IPO Anchor bid date is August 4, 2023. Srivari Spices IPO Anchor Investors list
| Bid Date | August 4, 2023 |
| Shares Offered | 6,06,000 |
| Anchor Portion Size (In Cr.) | 2.55 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 13, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 12, 2023 |
Srivari Spices IPO opens on August 7, 2023, and closes on August 9, 2023.
| IPO Open Date | Mon, Aug 7, 2023 |
| IPO Close Date | Wed, Aug 9, 2023 |
| Tentative Allotment | Mon, Aug 14, 2023 |
| Initiation of Refunds | Wed, Aug 16, 2023 |
| Credit of Shares to Demat | Thu, Aug 17, 2023 |
| Tentative Listing Date | Fri, Aug 18, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Aug 9, 2023 |
Investors can bid for a minimum of 3,000 shares and in multiples 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 |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,26,000 |
| Retail (Max) | 1 | 3,000 | ₹1,26,000 |
| HNI (Min) | 2 | 6,000 | ₹2,52,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 235.88 | 627.38 | 1,067.62 | 2,568.13 |
| Total Income | 19.05 | 1,139.90 | 1,764.21 | 3,582.01 |
| Profit After Tax | -10.69 | 35.26 | 72.84 | 312.61 |
| Net Worth | 177.54 | 426.91 | 499.75 | 910.02 |
| Reserves and Surplus | -10.69 | 24.57 | 97.41 | 410.02 |
| Total Borrowing | 277.39 | 1,283.51 |
The market capitalization of Srivari Spices IPO is ₹30.00 Cr.
| KPI | Values |
|---|---|
| ROE | 44.35% |
| ROCE | 23.65% |
| Debt/Equity | 1.41 |
| RoNW | 24.79% |
The Company proposes to utilize the Net Proceeds towards funding the following objects:
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many players around. The sudden boost in its bottom line for FY23 raises eyebrows and concern over the sustainability going forward. The management is confident of continuing the trends with more premium and high-margin products launch with consumer awareness for hygienic food cooking with Srivari Products. Based on FY23's performance, the IPO appears reasonably priced. The small post-IPO equity base may lead to longer gestation for migration to the mainboard. Investors may consider parking of funds with the medium to long-term perspectives. Read detail review...
| Listing Date | August 18, 2023 |
| BSE Script Code | |
| NSE Symbol | SSFL |
| ISIN | INE0ON201012 |
| Final Issue Price | ₹42 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹42.00 |
| Open | ₹101.50 |
| Low | ₹101.50 |
| High | ₹106.55 |
| Last Trade | ₹106.55 |
Srivari Spices & Foods Ltd.
Shed No. 5-105/4/A, SY No.234/A,
Sriram Industrial Area, Kattedan,
Jalpally,
Hyderabad, Telangana, 500077
Phone: +91 737 588 8999
Email: compliance@srivarispices.com
Website: http://www.srivarispices.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Srivari Spices IPO is a SME IPO of 21,42,000 equity shares of the face value of ₹10 aggregating up to ₹9.00 Crores. The issue is priced at ₹42 per share. The minimum order quantity is 3000.
The IPO opens on August 7, 2023, and closes on August 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 August 7, 2023 and closes on August 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 Thursday, August 17, 2023. Check the Srivari Spices IPO allotment status.
The Srivari Spices IPO listing date is on Friday, August 18, 2023.
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