DSM Fresh Foods IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Sep 26 to Oct 06 2025
Price Band
₹95 - 100
Current GMP
₹120.0 (+20%)
Subscription
1.36 times
IPO Details
| IPO Date | September 26, 2025 to October 6, 2025 |
| Listing Date | October 9, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹95 to ₹100 per share |
| Issue Price Final | ₹100 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 59,06,400 shares (aggregating up to ₹59.06 Cr) |
| Reserved for Market Maker | 3,31,200 shares (aggregating up to ₹3.31 Cr)Alacrity Securities Ltd. |
| Net Offered to Public | 55,75,200 shares (aggregating up to ₹55.75 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,63,80,738 shares |
| Share Holding Post Issue | 2,22,87,138 shares |
IPO Date
September 26, 2025 to October 6, 2025
Listing Date
October 9, 2025
Face Value
₹10 per share
Issue Price Band
₹95 to ₹100 per share
Issue Price Final
₹100 per share
Lot Size
1,200 Shares
Sale Type
Fresh Capital
Total Issue Size
59,06,400 shares (aggregating up to ₹59.06 Cr)
Reserved for Market Maker
3,31,200 shares (aggregating up to ₹3.31 Cr)Alacrity Securities Ltd.
Net Offered to Public
55,75,200 shares (aggregating up to ₹55.75 Cr)
Issue Type
Bookbuilding IPO
Listing At
BSE SME
Share Holding Pre Issue
1,63,80,738 shares
Share Holding Post Issue
2,22,87,138 shares
IPO Subscription Details
| Anchor Investors | 1 |
| Market Maker | 1 |
| QIB (Ex Anchor) | 1.53 |
| Non-Institutional Buyers*** | 2.06 |
| bNII (bids above ₹10L) | 2.71 |
| sNII (bids below ₹10L) | 0.74 |
| Individual Investors (IND category bidding for 2 Lots) | 0.96 |
| Total ** | 1.36 |
Anchor Investors
1
Market Maker
1
QIB (Ex Anchor)
1.53
Non-Institutional Buyers***
2.06
bNII (bids above ₹10L)
2.71
sNII (bids below ₹10L)
0.74
Individual Investors (IND category bidding for 2 Lots)
0.96
Total **
1.36
Day Wise Sub
| Day | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Day 1 Sep 26, 2025 | 0.44 | 0.21 | 0.31 | 0.01 | 0.08 | 0.21 |
| Day 2 Sep 29, 2025 | 0.44 | 0.22 | 0.31 | 0.03 | 0.14 | 0.24 |
| Day 3 Sep 30, 2025 | 1.00 | 0.33 | 0.35 | 0.29 | 0.27 | 0.49 |
| Day 4 Oct 1, 2025 | 1.00 | 0.78 | 1.03 | 0.29 | 0.29 | 0.60 |
| Day 5 Oct 3, 2025 | 1.45 | 1.25 | 1.72 | 0.31 | 0.51 | 0.94 |
| Day 6 Oct 6, 2025 | 1.53 | 2.06 | 2.71 | 0.74 | 0.96 | 1.36 |
DayDay 1
Sep 26, 2025
QIB (Ex Anchor)0.44
NII*0.21
NII (> ₹10L)0.31
NII (< ₹10L)0.01
Individual Investors0.08
Total0.21
DayDay 2
Sep 29, 2025
QIB (Ex Anchor)0.44
NII*0.22
NII (> ₹10L)0.31
NII (< ₹10L)0.03
Individual Investors0.14
Total0.24
DayDay 3
Sep 30, 2025
QIB (Ex Anchor)1.00
NII*0.33
NII (> ₹10L)0.35
NII (< ₹10L)0.29
Individual Investors0.27
Total0.49
DayDay 4
Oct 1, 2025
QIB (Ex Anchor)1.00
NII*0.78
NII (> ₹10L)1.03
NII (< ₹10L)0.29
Individual Investors0.29
Total0.60
DayDay 5
Oct 3, 2025
QIB (Ex Anchor)1.45
NII*1.25
NII (> ₹10L)1.72
NII (< ₹10L)0.31
Individual Investors0.51
Total0.94
DayDay 6
Oct 6, 2025
QIB (Ex Anchor)1.53
NII*2.06
NII (> ₹10L)2.71
NII (< ₹10L)0.74
Individual Investors0.96
Total1.36
IPO Important Dates
| IPO Open Date | Fri, Sep 26, 2025 |
| IPO Close Date | Mon, Oct 6, 2025 |
| Tentative Allotment | Tue, Oct 7, 2025 |
| Initiation of Refunds | Wed, Oct 8, 2025 |
| Credit of Shares to Demat | Wed, Oct 8, 2025 |
| Tentative Listing Date | Thu, Oct 9, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Oct 6, 2025 |
IPO Open Date
Fri, Sep 26, 2025
IPO Close Date
Mon, Oct 6, 2025
Tentative Allotment
Tue, Oct 7, 2025
Initiation of Refunds
Wed, Oct 8, 2025
Credit of Shares to Demat
Wed, Oct 8, 2025
Tentative Listing Date
Thu, Oct 9, 2025
Cut-off time for UPI mandate confirmation
5 PM on Mon, Oct 6, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,40,000 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,40,000 |
| S-HNI (Min) | 3 | 3,600 | ₹3,60,000 |
| S-HNI (Max) | 8 | 9,600 | ₹9,60,000 |
| B-HNI (Min) | 9 | 10,800 | ₹10,80,000 |
ApplicationIndividual investors (Retail) (Min)
Lots2
Shares2,400
Amount₹2,40,000
ApplicationIndividual investors (Retail) (Max)
Lots2
Shares2,400
Amount₹2,40,000
ApplicationS-HNI (Min)
Lots3
Shares3,600
Amount₹3,60,000
ApplicationS-HNI (Max)
Lots8
Shares9,600
Amount₹9,60,000
ApplicationB-HNI (Min)
Lots9
Shares10,800
Amount₹10,80,000
Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 84.04 | 50.00 | 22.01 |
| Total Income | 131.47 | 90.68 | 56.61 |
| Profit After Tax | 9.05 | 4.67 | 2.74 |
| EBITDA | 17.05 | 9.58 | 3.41 |
| NET Worth | 49.09 | 38.04 | 16.54 |
| Reserves and Surplus | 32.70 | 37.95 | 16.46 |
| Total Borrowing | 31.70 | 7.65 | 2.07 |
Period EndedPeriod Ended
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
31 Mar 202331 Mar 2023
Period EndedAssets
31 Mar 202584.04
31 Mar 202450.00
31 Mar 202322.01
Period EndedTotal Income
31 Mar 2025131.47
31 Mar 202490.68
31 Mar 202356.61
Period EndedProfit After Tax
31 Mar 20259.05
31 Mar 20244.67
31 Mar 20232.74
Period EndedEBITDA
31 Mar 202517.05
31 Mar 20249.58
31 Mar 20233.41
Period EndedNET Worth
31 Mar 202549.09
31 Mar 202438.04
31 Mar 202316.54
Period EndedReserves and Surplus
31 Mar 202532.70
31 Mar 202437.95
31 Mar 202316.46
Period EndedTotal Borrowing
31 Mar 202531.70
31 Mar 20247.65
31 Mar 20232.07
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | P/E (x) | Financial statements |
|---|---|---|---|---|
| DSM Fresh Foods Limited | 5.53 | 5.53 | ||
| Chatha Foods Ltd | 2.67 | 2.67 | 37.08 | |
| Tasty Bite Eatables Ltd. | 99.80 | 99.80 | 94.72 | |
| HMA Agro Industries Limited | 1.20 | 1.20 | 25.50 |
Company NameDSM Fresh Foods Limited
EPS (Basic)5.53
EPS (Diluted)5.53
P/E (x)
Financial statements
Company NameChatha Foods Ltd
EPS (Basic)2.67
EPS (Diluted)2.67
P/E (x)37.08
Financial statements
Company NameTasty Bite Eatables Ltd.
EPS (Basic)99.80
EPS (Diluted)99.80
P/E (x)94.72
Financial statements
Company NameHMA Agro Industries Limited
EPS (Basic)1.20
EPS (Diluted)1.20
P/E (x)25.50
Financial statements
IPO Reservation
| Market Maker Shares Offered | 3,31,200 (5.61%) |
| QIB Shares Offered | 27,82,800 (47.11%) |
| − Anchor Investor Shares Offered | 16,66,800 (28.22%) |
| − QIB (Ex. Anchor) Shares Offered | 11,16,000 (18.89%) |
| NII (HNI) Shares Offered | 8,38,800 (14.20%) |
| − bNII > ₹10L | 5,61,600 (9.51%) |
| − sNII < ₹10L | 2,77,200 (4.69%) |
| Retail Shares Offered | 19,53,600 (33.08%) |
| Total Shares Offered | 59,06,400 (100.00%) |
Market Maker Shares Offered
3,31,200 (5.61%)
QIB Shares Offered
27,82,800 (47.11%)
− Anchor Investor Shares Offered
16,66,800 (28.22%)
− QIB (Ex. Anchor) Shares Offered
11,16,000 (18.89%)
NII (HNI) Shares Offered
8,38,800 (14.20%)
− bNII > ₹10L
5,61,600 (9.51%)
− sNII < ₹10L
2,77,200 (4.69%)
Retail Shares Offered
19,53,600 (33.08%)
Total Shares Offered
59,06,400 (100.00%)
Information about company
Incorporated in May 2015, DSM Fresh Foods Limited is engaged in the business of fresh meat and ready-to-cook/eat non-veg products retailer.
The company operating under the brand name Zappfresh, specialises in the online retail of fresh meat and ready-to-cook/eat products.
The user-friendly website and app offer diverse, fresh, hygienically sourced meats, including poultry, seafood, and exotic options. The company ensures that all produce reaches consumers fresh.
Zappfresh offers quality fresh meat via its website and mobile app, available on Android and ios, with over 100,000 downloads on the Play Store.
Products:
Fresh Meats: Chicken, mutton, pork, seafood, and specialty meats
Ready-to-Cook/Eat Items: Mutton Seekh Kebab, Chicken Cheese Nuggets, Masala Fish Fingers
Cold Cuts: Chicken Salami, Chicken Ham, sausages
Marinated Meats: Chicken Methi Tikka, Masala Wings, Chicken Tikka
As of August 13, 2025, the company had 46 employees.
Competitive Strength:
Experienced and Qualified management team.
Well organized organisational structure,
Efficient business model (Farm to Fork Model).
Products come from farms with innovative technologies for healthy animal growth.
Improving quality builds its reputation with fewer complaints.
Hygienically and humanely well-maintained slaughterhouses.
Objectives of IPO
The Company DSM Fresh Foods IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (₹ in crores)
1
Capital Expenditure Requirement
10.68
2
Marketing Expenditure
15.00
3
Working Capital Requirement
25.00
4
Unidentified Acquistion and General Corporate Purposes
2.18
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