Srivari Spices and Foods IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Srivari Spices and Foods IPO opens on August 7 and closes on August 9, 2023. According to the DRHP filed in SEBI, the company plans to issue 2,142,000 shares through this public issue.
Srivari Spices and Foods Limited (“the Company”)
Srivari Spices & Foods Limited was incorporated in 2019. The company is engaged in the business of manufacturing spices and Flour (Chakki Atta). The marketing and sales processes are also done by the company. The company sources its raw materials from different parts of the country for manufacturing its final products.
The company follows two business models to sell its products:
- Direct to Customer (D2C) and
- Business to Business (B2B)
The company’s operations are mainly spread across the states of Telangana and Andhra Pradesh. The company carries out the entire manufacturing process without using artificial preservatives or chemicals. This is how they make organic spices and flour, in which the freshness and goodness of each ingredient are captured.
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Funding the working capital requirements of our Company
- General corporate purposes
Financial Highlights (Restated)
| Particulars | For the period ended on 31st Dec. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 733 | 500 | 427 | 178 |
| Total Assets | 2,060 | 1,068 | 627 | 236 |
| Reserve & Surplus | 233 | 97 | 25 | (11) |
| Total Borrowings | 1,027 | 277 | – | – |
| Total Revenue | 2,192 | 1,764 | 1,140 | 19 |
| Profit After Tax | 135 | 73 | 35 | (11) |
IPO details
As per the DRHP filed with SEBI, 21.42 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. GYR Capital Advisors Limited will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 40 to ₹ 42 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 3,000 Shares |
| Issue Size | 2,142,000 shares (aggregating up to ₹ 9 crores) |
| Fresh Issue | 2,142,000 shares (aggregating up to ₹ [.] crores) |
| Market Maker portion | 108,000 shares (Nikunj Stock Brokers) |
| Listing At | NSE SME |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not more than 50% of the net issue |
| NII (HNI) shares offered | Not less than 15% of the net Issue |
| Retail shares offered | Not less than 35% of the net Issue |
GMP: Srivari Spices and Foods IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Srivari Spices and Foods IPO
The issue opens for subscription on August 7, 2023, and closes for subscription on August 9, 2023 (both days inclusive). The basis of allotment will be finalised on August 14, 2023, and the refunds will be initiated on August 16, 2023. In addition, the demat credits are expected to happen on August 17, 2023, and the stock will be listed on the NSE SME on August 18, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | August 7, 2023, |
| Closing Date | August 9, 2023 |
| Basis of Allotment | August 14, 2023 |
| Initiation of Refunds | August 16, 2023 |
| A credit of shares to Demat A/c | August 17, 2023 |
| Listing Date | August 18, 2023 |
Lot Size
The lot size of the Srivari Spices and Foods IPO is 3,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 3,000 shares of ₹ 126,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 3,000 | ₹ 126,000 |
| Retail (Maximum) | 1 | 3,000 | ₹ 126,000 |
| HNI (Minimum) | 2 | 6,000 | ₹ 252,000 |
Promoters Holdings
Rathi Narayan Das and Neihaa Rathi are the promoters of the company.
| Pre-issue Shares Holdings | 99.90% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Srivari Spices and Foods Limited Shed No. 5-105/4/A, SY No.234/A, Sriram Industrial Area, Kattedan, Jalpally, Hyderabad – 500 077 Phone: +91 737 588 8999 Email: compliance@srivarispices.com Website: http://www.srivarispices.com/ |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/ |
| IPO Lead Manager(s) | GYR Capital Advisors Limited |
