IPO Details and Subscription
DSM Fresh Foods had launched its IPO to raise over Rs 59 crore entirely through a fresh issue of shares, with a price band of Rs 95–100 apiece. Investors could bid for a minimum of 1,200 shares, requiring an investment of Rs 1.20 lakh per lot, and in multiples thereafter.
The IPO saw decent interest during its three-day public bidding, which ran from 26 September to 6 October. Non-Institutional Investors (NII) showed the strongest demand, subscribing their portion nearly twice, while Qualified Institutional Buyers (QIB) subscribed over 1.5 times their reserved quota. Retail investors nearly fully subscribed their allocation.
Also read | Explained: Reliance Industries is India’s most valuable company but why isn’t it No.1 in Nifty50 weight?
Use of IPO Proceeds
DSM Fresh Foods plans to deploy around Rs 25 crore from the IPO for working capital, Rs 15 crore for marketing, Rs 11 crore for capital expenditure, and Rs 3 crore for inorganic growth through acquisitions and other strategic initiatives, along with general corporate purposes.
Company Background
Founded in 2015, DSM Fresh Foods has emerged as one of India’s leading omnichannel retailers of fresh meat and ready-to-cook/eat products, including chicken, mutton, and seafood. The company has accelerated its growth through acquisitions over the past two years, including Bonsaro in Mumbai and Dr. Meat in Bengaluru.Zappfresh operates in a competitive market alongside Licious, FreshToHome, TenderCuts, and Meatigo. Narnolia Financial Services served as the book-running lead manager for the IPO. Also read | 15 stocks to shop for this Diwali; SBI Securities eyes up to 25% upside. Check list
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
as a Reliable and Trusted News Source