Srivari Spices and Foods IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Aug 11, 2023Let’s have a detailed review of the company and analytics of the Srivari Spices and Foods IPO release date, IPO offer price, subscription, Srivari Spices and Foods Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 40 to Rs 42 |
| Listing At | NSE, SME |
| Min. Order Quantity | 3000 Shares |
| Listing Date | 18 August 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs Lakh |
| IPO Size | Rs 900 Lakh |
| Tick Size | 1 |
Srivari Spices and Foods IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Srivari Spices and Foods Share Price |
Srivari Spices and Foods IPO – Summary
Their Company was incorporated on January 29, 2019, as ‘Srivari Spices and Foods Private Limited’, a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated January 30, 2019, issued by the Deputy Registrar of Companies, Central Registration Centre.
Subsequently, their Company was converted into a public limited company and consequently, the name of their Company was changed to ‘Srivari Spices and Foods Limited’.
The Promoter of this company is RATHI NARAYAN DAS AND NEIHAA RATHI. The lead manager of the issue is GYR CAPITAL ADVISORS PRIVATE LIMITED, and the Registrar of this issue is BIG SHARE SERVICES PRIVATE LIMITED.
Srivari Spices and Foods IPO Date
The opening and closing dates of Srivari Spices and Foods IPO are 7 August 2023 and 9 August 2023 respectively..
Srivari Spices and Foods IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 7th Aug | 1.23x | 6.33x | 17.33x | 10.37x |
| 2nd Day – 8th Aug | 1.26x | 28.77x | 71.00x | 42.03x |
| 3rd Day – 9th Aug | 11.78x | 192.03x | 229.95x | 159.49x |
| Shares Offered or Net Issue | 408,000 | 306,000 | 714,000 | 2,142,000 |
The shares subscribed by the public will be updated here.
Srivari Spices and Foods IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Srivari Spices and Foods Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | 14 August 2023 |
| Refunds Initiation | 16 August 2023 |
| Credit of Shares to Demat Account | 17 August 2023 |
| Share Listing Date | 18 August 2023 |
Srivari Spices and Foods IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 40 to Rs 42
Srivari Spices and Foods IPO Equity Size
This Initial Public Issue of 2,142,000 Equity Shares of Rs.10 each for cash at a price of Rs 40 to Rs 42 per equity share aggregating to Rs.900 Lakh.
Srivari Spices and Foods IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 2,142,000 Equity Shares of Rs.10/ each.
Issue Size: 2,142,000 Equity Shares of Rs.10 each, aggregating to Rs.900 Lakh
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Srivari Spices and Foods IPO – Live Performance
The listing date of this IPO is 18 August 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Srivari Spices and Foods Share Price |
Srivari Spices and Foods IPO Grey Market Premium
The Srivari Spices and Foods Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Srivari Spices and Foods IPO – Company Overview
Their Company is engaged in the business of manufacturing spices and flour (chakki atta) and marketing & sell it in and around Telangana and Andhra Pradesh. They handpick their raw materials from various parts of the country and process their products with utmost care without the use of artificial preservatives or chemicals, thereby creating a product portfolio of organic spices and flour, which carry the freshness and goodness of each ingredient.
Their unique business model has helped them penetrate the niche segment of their market and establish a customer base in and around Telangana and Andhra Pradesh.
They started their business operations in 2019 by setting up a state-of-the-art production facility at Survey numbers 234/4, and 234/5, Jalpally Village, Balapur Mandal, Jalpally Municipality, Ranga Reddy District, Telangana and manufacturing turmeric powder (haldi), chilli powder (mirchi) and coriander powder (dhaniya).
In December 2021, they expanded their business operations by diversifying their product portfolio into madras sambar masala, chicken masala, garam masala and mutton masala in pouches, boxes and bottles.
Srivari Spices and Foods IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | |||
| 31-Mar-23 | 31-Mar-22 | Mar-21 | |
| Total Assets | 2,568.13 | 1,067.62 | 627.38 |
| *Total Revenue | 3,582.01 | 1,764.21 | 1,139.90 |
| Total Expense | 3,149.17 | 1,663.08 | 1,092.24 |
| Profit After Tax | 312.61 | 72.84 | 35.26 |
Earnings per Equity Share (in Lakh)
| 31-Mar-23 | 31-Mar-22 | Mar-21 | |
| Basic & Diluted | 7.07 | 1.81 | 1.87 |
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 312.61 Lakh, Rs. 72.84 Lakh and Rs. 35.26 Lakh respectively.
Srivari Spices and Foods IPO – Promoters
The Promoter of this company is:
- RATHI NARAYAN DAS
- NEIHAA RATHI
List of Related Parties (Key Managerial Personnel)
- Rathi Narayan Das, Chairman and Whole-time Director
- Neihaa Rathi, Whole-time Director
- Uday Kiran Reddy Sama, Independent Director
- Rashida Younus Ahmedabadwala, Independent Director
- Hari Prasad Puttumurthi, Independent Director
Srivari Spices and Foods IPO – Promoters Holding
- Pre-Issue Share Holding – 99.90%
- Post-Issue Share Holding – %
Srivari Spices and Foods IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 21,42,000 Equity Shares aggregating up to Rs.900 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 1,08,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Net Issue to the Public | Up to 20,34,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 7,14,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 3,06,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 50,00,000 Equity Shares |
| Equity Shares outstanding after the Issue | 71,42,000 Equity Shares |
Srivari Spices and Foods IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Funding the working capital requirements of their Company; and
- General corporate purposes.
Srivari Spices and Foods IPO – Business Strategy
- Improving operational efficiencies
- Leveraging their Market Skills and Relationships
- Enhance customer base by entering new geographies to establish long-term relationships
- The value proposition for consumers
- Strengthening their brand
Srivari Spices and Foods IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Scaled platform with a strong track record of growth and market leadership;
- Experienced management team, backed by a strong board and marquee shareholders, along with strong culture of compliance;
- Deeply entrenched, long-standing client relationships with a diversified and expanding client base.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 7.07 | 34.35% | 18.20 |
| 31-Mar-22 | 1.81 | 14.57% | 12.42 |
| Mar-21 | 1.87 | 16.53% | 10.61 |
Srivari Spices and Foods IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Srivari Spices and Foods Limited | 10 | [●] | 7.07 | 34.35% | 3582.01 |
| Listed Peers | |||||
| Contil India Limited | 10 | 37.75 | 2.01 | 8.45% | 1995.28 |
| Jetmall Spices And Masala Limited | 10 | 47.00 | 0.49 | 3.01% | 394.90 |
Srivari Spices and Foods IPO Lead Managers
| Lead Managers |
| GYR CAPITAL ADVISORS PRIVATE LIMITED (Formerly known as Alpha Numero Services Private Limited) 428, Gala Empire, Near JB Tower, Drive in Road, Thaltej, Ahmedabad -380 054, Gujarat, India. Telephone: +91 87775 64648 Fax: N.A. E-mail: info@gyrcapitaladvisors.com Website: www.gyrcapitaladvisors.com Investor grievance: investors@gyrcapitaladvisors.com Contact Person: Mr Mohit Baid SEBI Registration Number: INM000012810 CIN: U67200GJ2017PTC096908 |
Srivari Spices and Foods IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED Office No. 56-2, 6th Floor, Pinnacle Business Park, Next to Ahura Center, Mahakali Caves Road, Andheri East, Mumbai-400 093, Maharashtra, India. Tel: +91 22 6263 8200 Fax: +91 22 6263 8299 Email: ipo@bigshareonline.com Website: www.bigshareonline.com Investor Grievance Email: investor@bigshareonline.com Contact Person: Mr. Aniket Chindarkar SEBI Registration Number: INR000001385 CIN: U99999MH1994PTC076534 |
Srivari Spices and Foods IPO – Other Details
- Statutory Auditor – Rao & Shyam, Chartered Accountants
- Legal Counsel to the Company – T&S Law
- Bankers to the Company – HDFC Bank Limited
Srivari Spices and Foods IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Srivari Spices and Foods Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Srivari Spices and Foods IPO Review FAQs
Check out various FAQs related to Srivari Spices and Foods IPO:
What is the Issue Size of Srivari Spices and Foods IPO?
The Company is making an initial public offer of 2,142,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Srivari Spices and Foods IPO?
The price band for this particular IPO ranges between Rs 40 to Rs 42. As far as the face value of the share is of concern, it is Rs. 10 per share.
What is the Srivari Spices and Foods IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on 7 August 2023, while the closing date is set at 9 August 2023.
What is the Srivari Spices and Foods IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on 14 August 2023, refund initiation is on 16 August 2023, credit of shares is on 17 August 2023, and share listing date is on 18 August 2023.
What is the Srivari Spices and Foods IPO Listing Date?
Shares of this company shall be listed in the exchanges on 18 August 2023. The date, when the listing would be done, is stagnant on 18 August 2023.
Who is the Registrar of Srivari Spices and Foods IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. BIGSHARE SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Srivari Spices IPO?
Here are the promoters of this IPO – RATHI NARAYAN DAS AND NEIHAA RATHI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Srivari Spices IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Srivari Spices and Foods IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Srivari Spices and Foods Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Lakh is 312.61, 2022 is 72.84, and 2021 is 35.26.
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