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Srivari Spices and Foods IPO GMP, Price, Dates & Allotment Details 2023

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: 

  1. Direct to Customer (D2C) and 
  2. 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:

  1. Funding the working capital requirements of our Company
  2. General corporate purposes

Financial Highlights (Restated)

ParticularsFor the period ended on 31st Dec. 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth733500427178
Total Assets2,0601,068627236
Reserve & Surplus2339725(11)
Total Borrowings1,027277
Total Revenue2,1921,7641,14019
Profit After Tax1357335(11)
(Amount in ₹ Lakhs)

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 TypeBook Built Issue IPO
IPO Price₹ 40 to ₹ 42 per share
Face Value₹ 10 per share
Market Lot3,000 Shares
Issue Size2,142,000 shares (aggregating up to ₹ 9 crores)
Fresh Issue2,142,000 shares (aggregating up to ₹ [.] crores)
Market Maker portion108,000 shares (Nikunj Stock Brokers)
Listing AtNSE SME

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net issue
NII (HNI) shares offeredNot less than 15% of the net Issue
Retail shares offeredNot 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 DateAugust 7, 2023,
Closing DateAugust 9, 2023
Basis of AllotmentAugust 14, 2023
Initiation of RefundsAugust 16, 2023
A credit of shares to Demat A/cAugust 17, 2023
Listing DateAugust 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.

ApplicationsLotsSharesAmount
Retail (Minimum)13,000₹ 126,000
Retail (Maximum)13,000₹ 126,000
HNI (Minimum)26,000₹ 252,000

Promoters Holdings 

Rathi Narayan Das and Neihaa Rathi are the promoters of the company.

Pre-issue Shares Holdings99.90%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationSrivari 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: [email protected]
Website: http://www.srivarispices.com/
IPO RegistrarBigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: [email protected]
Website: https://ipo.bigshareonline.com/
IPO Lead Manager(s)GYR Capital Advisors Limited

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