Uttar Pradesh-based potato flakes maker Shivashrit Foods will open its maiden public issue for subscription later this week on August 22. The offer will close on August 26.
The IPO anchor book for institutional investors will be launched on August 21. The price band for the offer has been fixed at Rs 135-142 per share.
The company aims to raise Rs 70.03 crore via initial share sale of 49.32 lakh shares at the upper price band. The IPO is combination of fresh issue of 43.16 lakh shares, and an offer-for-sale of 6.16 lakh shares by promoter.
Of the fresh issue proceeds, the company will utilise Rs 26.3 crore for expansion project, Rs 19 crore for working capital requirement for its expansion project, and the remainder funds for general corporate purpose.
Incorporated in 2017, Shivashrit Foods specialises in manufacturing of potato flakes, used in ready-to-eat meals, snack foods, and processed food products. Its processing and manufacturing facility is located at Aligarh in western Uttar Pradesh. It has an installed production capacity of 28.8 metric tons per day.
Click Here To Read All IPO News
On the financial front, the company reported net profit at Rs 12 crore for the fiscal year 2025, growing 3.8 percent over the previous financial year. Revenue during the same period grew by 37.4 percent to Rs 104.7 crore, up from Rs 76.2 crore.
Mark Corporate Advisors is acting as the sole merchant banker for the Shivashrit Foods IPO.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
