Issue structure
The issue consists of a fresh raise of Rs 31.67 crore and an offer for sale of Rs 7.92 crore. The price band has been set at Rs 111 to Rs 117 per share. At the upper end, retail investors need to apply for a minimum of 2,400 shares. Ahead of the offer, the company raised Rs 10.99 crore from anchor investors on November 25.
Subscription breakup
A total of 33.84 lakh shares are on offer, with 46.38% reserved for QIBs, 13.94% for NIIs and 32.48% for retail investors.
Business Overview
Incorporated in 2022, Mother Nutri Foods operates in the growing B2B nut-based spreads segment. The company offers more than 10 flavours and five variants of peanut butter under its “Spread and Eat” brand, marketed primarily overseas across markets such as Libya, Dubai and Japan.
It also undertakes private-label manufacturing for major international retailers, with clients spanning the UK, Canada, South Africa, the UAE, the US, Germany and more.
It plans to use Rs 23.19 crore from the IPO proceeds to set up a new production facility at the same location, along with funding general corporate needs.
Financials
The company posted revenue of Rs 90.48 crore in FY25 and PAT of Rs 6.47 crore, marking a 35% rise in profit from FY24. EBITDA improved to Rs 10.22 crore.
Listing Outlook
With a GMP of 0%, the street is yet to assign any premium to the issue ahead of opening. The company’s export-heavy model and private-label client base offer scale potential, although the SME nature of the listing and limited operating history may temper initial sentiment.
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