IPO Details
Bidding Dates
06 Aug '23 - 08 Aug '23
Minimum Investment
₹126,000 / 1 Lots ( 3000 Shares )
Price Range
₹40 - ₹42
Maximum Investment
₹126,000 / 1 Lots ( 3000 Shares )
Retail Discount
Not Applicable
Issue Size
₹9.00 Cr
Investor category and sub category
Qualified Institutions Buyers | Non-Institutional Buyers | Retail Investors |Srivari Spices and Foods Ltd IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Aug 6, 2023
IPO Closing Date
Aug 7, 2023
Basis of Allotment
Aug 13, 2023
Initiation of Refunds
Aug 15, 2023
Credit of Shares to Demat
Aug 16, 2023
IPO Listing Date
Aug 17, 2023
UPI Mandatory Expiry Date
Aug 8, 2023
Srivari Spices and Foods IPO Subscription Details
Date | QIB | NII | Retail | Total |
---|---|---|---|---|
Day 1Aug 6, 2023 |
1.23 | 6.33 | 17.33 | 10.37 |
Day 2Aug 7, 2023 |
1.26 | 28.77 | 71.00 | 42.03 |
Day 3Aug 8, 2023 |
45.38 | 459.08 | 387.30 | 304.99 |
Srivari Spices and Foods IPO Subscription Live Status
Investor Category | Subscription (Times) |
---|---|
Qualified Institutions Buyers | 45.38 |
Non-Institutional Buyers | 459.08 |
Retail Investors | 387.30 |
Total | 304.99 |
About Srivari Spices and Foods Ltd
Incorporated in January 2019, Srivari Spices and Foods Limited as ‘Srivari Spices and Foods Private Limited’. The company manufactures spices and flour (chakki atta), markets and sells their products in and around Andhra Pradesh and Telangana.
Srivari Spices and Foods works in both Direct to Customer (D2C) and Business to Business (B2B) business models. They deliver their products directly to the suppliers and also through about 15,000 retail stores. Recently, the company showcased their products in the All India Industrial Exhibition, conducted by the Indian Government.
Srivari Spices and Foods Limited IPO Details
Srivari Spices and Foods Limited IPO Objectives
The objectives of Srivari Spices and Foods Limited's IPO are listed below:
- To fund the working capital requirement of the company.
- To meet the general corporate purposes.
Srivari Spices and Foods Limited IPO Date
Srivari Spices and Foods Limited’s IPO will open on August 7, 2023 and close on August 9, 2023.Retail investors can bid for the Srivari Spices and Foods Limited IPO between August 7, 2023 and August 9, 2023. Srivari Spices and Foods Limited’s IPO will list on the NSE exchange on August 18, 2023.
Srivari Spices and Foods Limited IPO Price Band
Srivari Spices and Foods is a 100% fresh IPO worth ₹9 crore. The issue comprises 21,42,000 shares and is priced at ₹40 to ₹42 per share.
Srivari Spices and Foods Limited IPO Lot Size
Srivari Spices and Foods Limited’s IPO lot size is 3,000 shares and retail investors need to apply for a minimum of 1 lot, which is of ₹1,26,000.
Strengths and Risks
Strengths and Opportunities
- The net worth of the company also doubled from ₹426.91 lakh on March 31, 2021, to ₹910.02 lakh on March 31, 2023.
- The company has increased its profit after tax from ₹35.27 lakh on March 31, 2021, to ₹312.61 lakh on March 31, 2023.
- The company works with a goal to offer organic quality spices and other food products without any artificial chemicals or preservatives.
Risks and Threats
- The company does not have any long-term agreements with their raw materials suppliers. Any raise in the cost or limited availability of raw materials can impact the operations.
- 70.24% of the company’s projected total revenue is from its top 10 customers. This shows that the company’s revenue is highly dependent on specific customers, and losing them se customers can impact the business adversely.
- In FY 2022 and FY 2021 the company experienced a negative cash flow of ₹110.18 lakh and ₹17.34 lakh, respectively.
Peer Details
Srivari Spices and Foods faces competition from publicly listed players like Contil India Limited and Jetmall Spices And Masala Limited that are operating in the same business.
Contact Details of Srivari Spices and Foods Limited IPO
- Registered office: Shed No. 5-105/4/A, SY No.234/A, Sriram Industrial Area, Kattedan, Jalpally, Hyderabad – 500 077, Telangana, India.
- Phone: +91 737 588 8999
- E-mail:compliance@srivarispices.com
Srivari Spices and Foods Company Financials
Financial year | Period ending on March 31, 2023 (₹ in lakh) | Period ending on March 31, 2022 (₹ in lakh) | Period ending on March 31, 2021 (₹ in lakh) |
---|---|---|---|
Revenue from Operations | 3,581.29 | 1,764.21 | 1,139.90 |
Profit After Tax (PAT) | 312.61 | 72.84 | 35.27 |
Net Worth | 910.02 | 499.75 | 426.91 |
Earnings Per Share | 7.07 | 1.81 | 1.87 |
Total Borrowings | 1,283.51 | 277.39 | - |
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Srivari Spices and Foods Ltd IPO FAQs
The Srivari Spices and Foods Ltd IPO contains 100% fresh IPO worth ₹9 crore. The issue comprises 21,42,000 shares and is priced at ₹40 to ₹42 per share. The IPO will open on August 7, 2023.
The Basis of Allotment will happen on Monday, August 14, 2023.
The IPO subscription window will open on August 7, 2023.
Retail investors can apply for a minimum of one lot, which consists of 3,000 shares.
Srivari Spices and Foods Ltd IPO will list on the NSE exchange on Friday, August 18, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Validate with an OTP
- Enter your application number, DP ID, and PAN number into the app
- Click on ‘Submit’
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Friday, August 18, 2023, for Srivari Spices and Foods Ltd.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.