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:
- Direct to the customer (D2C)
- Business to business (B2B)
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.
Srivari Spices and Foods IPO Details
Srivari Spices and Foods IPO is a Book Built Issue. The IPO total issue size is Rs 9.00 Cr. The Srivari Spices and Foods IPO price is ₹40 to ₹42 per share. The IPO will list on NSE SME.
| IPO Date | Aug 7, 2023 to Aug 9, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹40 to ₹42 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 2,142,000 shares (aggregating up to ₹9.00 Cr) |
| Fresh Issue | 2,142,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,000,000 |
| Share holding post issue | 7,142,000 |
| Market Maker portion | 108,000 shares Nikunj Stock Brokers |
Srivari Spices and Foods IPO Reservation
Srivari Spices and Foods IPO a total of 2,142,000 shares are offered. QIB: 408,000 (19.05%), RII: 714,000 (33.33%), NII: 306,000 (14.29%).
| Anchor Investor Shares Offered | 606,000 (28.29%) |
| Market Maker Shares Offered | 108,000 (5.04%) |
| QIB Shares Offered | 408,000 (19.05%) |
| NII (HNI) Shares Offered | 306,000 (14.29%) |
| Retail Shares Offered | 714,000 (33.33%) |
| Total Shares Offered | 2,142,000 (100%) |
Srivari Spices and Foods IPO Timetable (Tentative)
Srivari Spices and Foods IPO opens on Aug 7, 2023, and closes on Aug 9, 2023.
| IPO Open Date | Monday, 7 August 2023 |
| IPO Close Date | Wednesday, 9 August 2023 |
| Basis of Allotment | Monday, 14 August 2023 |
| Initiation of Refunds | Wednesday, 16 August 2023 |
| Credit of Shares to Demat | Thursday, 17 August 2023 |
| Listing Date | Friday, 18 August 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Aug 9, 2023 |
Srivari Spices and Foods IPO Lot Size
The minimum lot size of this Srivari Spices and Foods IPO is 3000 shares required is ₹126,000.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹126,000 |
| Retail (Max) | 1 | 3000 | ₹126,000 |
| HNI (Min) | 2 | 6,000 | ₹252,000 |
| Lot Size Calculator |
Srivari Spices and Foods IPO Promoter Holding
Rathi Narayan Das and Neihaa Rathi are the Promoters of the Company.
| Pre Issue Share Holding | 99.90% |
| Post Issue Share Holding |
Company Financials
| 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 |
| Revenue | 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 |
Amount in ₹ Lakhs
Key Performance Indicator
Srivari Spices and Foods IPO Market Cap is Rs 30 Cr and P/E (x) is 9.59.
| KPI | Values |
|---|---|
| P/E (x) | 9.59 |
| Market Cap (₹ Cr.) | 30 |
| ROE | 44.35% |
| ROCE | 23.65% |
| Debt/Equity | 1.41 |
| EPS (Rs) | 4.45 |
| RoNW | 24.79% |
Check Srivari Spices and Foods IPO Peer Comparison here.
Objects of the Issue
The Company proposes to utilize the Net Proceeds towards funding the following objects:
- Funding the working capital requirements of our Company
- General corporate purposes
Srivari Spices and Foods IPO Review (Apply)
[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…
Srivari Spices and Foods IPO Subscription Status (Bidding Detail)
The Srivari Spices and Foods IPO is subscribed 450.03 times on Aug 9, 2023 7:29:00 PM. The public issue subscribed 517.95 times in the retail category, 79.10 times in the QIB category, and 786.11 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 79.10 |
| NII | 786.11 |
| Retail | 517.95 |
| Total | 450.03 |
Total Application : 123,273 (517.95 times)
Srivari Spices and Foods IPO Prospectus
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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/
Srivari Spices and Foods IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html