DSM Fresh Food IPO: DSM Fresh Food, which operates under the brand name Zappfresh, is gearing up to launch its initial public offering (IPO) next week on Friday, September 26. The issue will remain open for bidding till Tuesday, September 30.
The SME IPO is priced in the range of ₹96 to ₹101 per share, looking to raise ₹59.65 crore at the upper end of the price band. The issue is entirely a fresh share sale of 0.59 crore equity shares, with no offer for sale component, meaning that the proceeds from the IPO will go to the company.
Investors can apply for the DSM Fresh Food IPO in lots of 1,200 shares, with the retail investors required to apply for at least two lots, and in multiples of 1,200 shares thereafter.
The company plans to use the funds raised from the IPO for funding the company’s strategic growth initiatives, including working capital requirements of ₹25 crore, marketing expenditure of ₹15 crore, capital expenditure requirements of ₹11 crore and ₹3 crore towards inorganic growth opportunities through acquisitions and other strategic initiatives, as well as for general corporate purposes.
Narnolia Financial Services is the book-running lead manager (BRLM) for the IPO, with shares of DSM Fresh Food proposed to be listed on the BSE SME.
About DSM Fresh Food
Founded in 2015, DSM Fresh Food operates under the brand name Zappfresh and is one of the leading omnichannel retailers (online B2C and offline B2B) of fresh meat and ready-to-cook/eat products.
The company is headquartered in Gurugram. Its website and mobile application, Zappfresh, offers a wide assortment of hygienically sourced products, including premium cuts of mutton, poultry, and seafood, along with convenient ready-to-cook and ready-to-eat options.
India’s meat, poultry, and seafood sector is undergoing a structural transformation, valued at USD 55.3 billion in 2024 and projected to nearly double by 2033, according to a Business Research Report.
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