Srivari Spices and Foods IPO will open for subscription from 07 August 2023. the company aims for an issue size of ₹9 Cr through this IPO.
Company Overview
| Full name | Srivari Spices and Foods Limited |
| Sector | Fast-Moving Consumer Goods |
| Industry | Consumer Food |
| Company Website | https://srivarispices.com/ |
About Company
Incorporated in 2019, Srivari Spices and Foods is engaged in manufacturing spices and flour (chakki atta) and marketing & selling them in and around Telangana and Andhra Pradesh. It handpicks raw materials from various parts of the country and processes the products with utmost care without using artificial preservatives or chemicals, thereby creating a product portfolio of organic spices and flour, which carry the freshness and goodness of each ingredient.
The company’s business has two models – first is direct-to-customer (“D2C”) in nature, wherein it delivers the products directly to the doorstep of its customers using approximately 15,000 retail stores. Secondly, it also works in business-to-business (“B2B’’), wherein it delivers the products to the suppliers. Srivari Spices and Foods operates from two manufacturing units located in Telangana namely, Unit – I situated at 234/5, Jalpally Village, Balapur Mandal, Jalpally Municipality, Ranga Reddy District, Telangana, and Unit – II situated at Raikal Village, Farooqnagar Mandal, Ranga Reddy District, Telangana, respectively.
The Objective of the Issue
- Funding the working capital requirements of our Company.
- General corporate purposes.
IPO Timetable
| IPO Opening date | 07 August 2023 |
| IPO Closing | 09 August 2023 |
| Basis of Allotment | 14 August 2023 |
| Initiation Refund | 16 August 2023 |
| Credit to Demat Account | 17 August 2023 |
| Listing Date | 18 August 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹9 Cr – 2,142,000 shares |
| Fresh Issue | ₹9 Cr – 2,142,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹40 to ₹42 per share |
| Lot size | 3000 Shares |
| Market Maker portion | 108,000 shares |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹126,000 |
| Retail (Max) | 1 | 3000 | ₹126,000 |
| HNI (Min) | 2 | 6,000 | ₹252,000 |
Reservation Details
| 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%) |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 1,139.90 | 1,764.21 | 3,582.01 |
| Expenses | 1,092.23 | 1,663.09 | 3,149.17 |
| Net income | 35.27 | 72.84 | 312.61 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.87 | 1.81 | 7.07 |
| PE ratio | – | – | 5.66 – 5.94 |
| RONW (%) | 16.53 | 14.57 | 34.35 |
| NAV | 10.61 | 12.42 | 18.20 |
| ROCE (%) | (6.04) | 19.03 | 23.65 |
| EBITDA (%) | 7.14 | 9.22 | 15.85 |
| Debt/Equity | 0.00 | 0.38 | 1.40 |
Company Promoters
- Rathi Narayan Das
- Neihaa Rathi
Promoter Holding
| Pre Issue Share Holding | 99.90 % |
| Post Issue Share Holding |
Lead Manager(s)
GYR CAPITAL ADVISORS PRIVATE LIMITED
428, Gala Empire, Near JB Tower,
Drive in Road, Thaltej
Ahmedabad-380 054, Gujarat, India
Phone:+91 8777564648
Email: info@gyrcapitaladvisors.com
Website: www.gyrcapitaladvisors.com
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
Office No. 56-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
SRIVARI SPICES AND FOODS LIMITED
4-1-875, 876, 877 and 877/1, RDB Blue Hope,
Tilak Road, Abids, Hyderabad- 500 001, Telangana
Phone: +91 40 3576 8663
E-mail: info@srivarispices.com
Website: www.srivarispices.com
Allotment Status
Srivari Spices IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Srivari Spices and Foods IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
