Srivari Spices and Foods IPO: Are you a foodie? If so, you will certainly run after this IPO issue. Yes, there is one such company (Srivari Spices & Foods Limited), an SME, well established in Telangana, serving the needs of Andhra Pradesh, and Telangana people.
The company has a deep penetration in processing, marketing, and selling of food ingredients like spices, flour, wheat, & sharbat atta, and above all they make organic products.
Interestingly, ‘Srivari Spices & Foods Limited’ has a good network of direct-to-customer (D2C), and business-to-business (B2B) channel outlets. With this network, the company delivers its services through 15000 outlets by combining Andhra Pradesh and Telangana.
Srivari Spices and Foods IPO Date, Price, GMP & IPO Analysis
Now, the company plans to expand its activities through market capitalization. Thus, inviting you to become a shareholder in their business developmental process.
Make a decision on this IPO issue and we are sure that by the end of the article, you shall take a positive step by becoming a shareholder of Srivari Spices & Foods Limited.
Further, the article also provides relevant info that can drive positive action in you.
How will the IPO funds be utilized by Srivari Spices and Foods?
The Objectivity of the IPO Funds:
The company plans to make capital spending of the Net proceeds to fulfill the following objectives.
- The company shall invest towards the working capital needs in product expansion and development activities.
- A particular part of the IPO funds shall be diverted to maintain the general corporate purposes, and the expenses incurred with the IPO issue.
Srivari Spices & Food Private Limited: IPO Details
- The company will issue an initial public offer on 01 August 2023 and the total issue size shall be 2,142,000 shares since the price per share is not yet released the aggregation of the total capital is still unknown. The lot size is the total number of shares put together and sold in lots and which is to be mentioned.
- The company’s shareholding before the Initial Public Offer, IPO is 5,000,000 and the expected shareholding after the listing of the SME company in the national stock exchange shall be 7,142,000 and the market maker portion will be 108,000 shares.
IPO Reservation
- The company has reserved a specific percentage of the net issue for their applicants. They can be QIB, NII(HNI), and Retail shares.
- The company shall be issuing shares in the following pattern. For QIB category applicants, the company shall offer QIB shares up to 50 percent of the net issue, for NII(HNI) category applicants, the company shall offer 15 percent and above, the net issue and for the retail category applicants, the company shall be offered 35 percent or above, the net issue.
Srivari Spices IPO Timetable:
The stock exchange has issued a timetable for the Initial Public Offer, IPO that shall begin on Monday, 7 August 2023, and the listing date will be on Friday, 18 August 2023.
The applicants for the IPOs can apply until 5 PM on 9 August 2023 which is the cutoff time provided the UPI transactions are compulsorily confirmed by then.
The entire process of IPO issue goes through a series of steps before the listing date and they are as follows.
- The company’s IPO issue shall be opened on Monday, 7 August 2023, and be closed on Wednesday, 9 August 2023 by 5 PM. (By that time, the UPI Payment is mandated for confirmation)
- The Stock exchange shall make the allotment of shares in lots to the various segments of applicants on Monday, 14 August 2023.
- If the script is oversubscribed then there can be instances where your application might get rejected as the shareholders will be decided on the basis of a lottery. And if your application is disqualified then you will get a refund on Wednesday, 16 August 2023.
- In case, your application is confirmed and allotted with a lot/lots of shares then the credit of shares into your demat account shall be completed on Thursday, 17 August 2023.
- The listing date of the Srivari Spices and Foods shall be on Friday, 18 August 2023.
Financial History
The above tabular column states the comparison of four financial years, FY20,21,22,23, and in which you can find the display of assets, revenue, profit after tax, net worth, reserves and surplus, and total borrowing.
This information can serve as input in deciding the worthiness of the company. Furthermore, you can observe the graphical display of the data in the 2D bar diagram.
| Financial Year End | 31-Mar-20 | 31-Mar-21 | 31-Mar-22 | 31-Mar-23 |
| Assets | 235.88 | 627.38 | 1,067.62 | 2,568.13 |
| Revenue | 19.05 | 1,139.90 | 1,764.21 | 3,582.01 |
| Profit After Tax | -10.69 | 35.26 | 72.84 | 312.61 |
| Net Worth | 177.54 | 426.91 | 499.75 | 910.02 |
| Reserves and Surplus | -10.69 | 24.57 | 97.41 | 410.02 |
| Total Borrowing | 277.39 | 1,283.51 |
Allotment Status Tracking Module:
The company has yet to make a share allotment status tracking system that can enable you to know whether you were eligible for the share lots or not. However, the company shall be declaring it only after the share allotment on 14, August 2023.
Application Procedure
- You can apply for an IPO issue through ASBA online via your bank account, your broker, or through UPI.
- You can also make use of the discount brokerage companies like Zerodha and obtain your share allotment. The Zerodha has a specific format where you are advised to enter the details such as UPI ID, quantity, and price, and make the submission by clicking the submit button.
- You can also utilize the UPI app on Net Banking, or apply through the BHIM app ( Govt. of India).
- In a similar manner, you can progress to utilize the Upstox app or even Paytm money.
Srivari Spices and Food IPO Registrar
Srivari Spices & Food Limited has hired Bigshare Services Pvt Ltd to look into the matter of the IPO issue in the capacity of a Registrar. You can get a connection with the Registrar through any of your desired channels, Phone(91-22-6263-8200), email(ipo@bigshareonline.com, or https://ipo.bigshareonline.com/ipo_status.html.
About the Company
- Since 2019, in just three years, Srivari Spices and Foods Limited has entered the IPO segment. As an SME, it plans to increase the capital base for the wider spread and development of food products. The company has specialized in manufacturing spices, and flour(Chakki atta) and solely conducts its own marketing and selling products in and around Telangana and Andhra Pradesh.
- The company markets its products in three segments, spices, masala, and atta. They have about 3000 retail outlets and for the wheat and sharbat atta, they hold about 15000 outlets in the Telugu-speaking states.
- The company imports raw materials from other Indian States and through processing does create a final product. The products are purely organic in nature, and artificial preservatives are completely avoided. In a similar manner, spices, and flour are prepared that spread an aura of freshness.
Business Model:
The company engages in two kinds of business models to sell its products to the end users. They are Direct to the Customer ( D2C) and business-to-business ( B2B).
Achievements:
- Srivari Spices has been recognized to be the ‘best-emerging spices brand 2021’ and was honored by Business Mint.
- The company in a span of two years (2019, 2021) has established two important primary operations both located in Ranga Reddy District Telangana.
Address for Correspondence:
You can correspond with Srivari Spices and Foods to get your queries sorted out, and you can feel free to approach any of your desired channels opened such as Phone: +91 737 588 8999, Email: compliance@srivarispices.com, Website: http://www.srivarispices.com.
You can also get in touch with the office representatives at the location: Srivari Spices and Foods Limited, Shed No. 5-105/4/A, SY No.234/A, Shriram Industrial Area, Kattedan, Jalpally, Hyderabad – 500 077.