Shivashrit Foods Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹142
Per ShareLot Size
1000 Shares
Minimum Investment
₹1,42,000
Issue Size
₹70.03 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Shivashrit Foods Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
73%
Issue Type
Book Building - SME
ISIN
INE1DLF01018
About the Company
Our company is manufacturer, supplier and exporter of Potato Flakes. Our Company has a dedicated potato processing and manufacturing facility at Aligarh in Western Uttar Pradesh, India for production of potato flakes. We specializes in manufacturing of premium-grade potato flakes, used in ready-to-eat meals, snack foods, and processed food products. Our product's portfolio is designed to cater to the specific requirements of both global and domestic food manufacturers, offering consistency in quality and a long shelf life.
Industry Overview
India is the fifth largest economy in the world and expected to be the fastest-growing economy among major G20 countries, with GDP growth estimated to be around 8% in FY24. The food processing sector has become a key contributor to India's economy over the past few years, thanks to progressive policy measures by the Ministry of Food Processing Industries (MoFPI). The sector has performed exceptionally well with an impressive average annual growth rate of 7.3% from 2015 to 2022. It has significantly contributed to Gross Domestic Product (GDP), employment, and investment, accounting for 10.54% of Gross Value Added (GVA) in Manufacturing and 11.57% in Agriculture sector in 2020-21. GVA in Food Processing sector has increased from Rs. 1.61 lakh crore (US$ 24.60 billion) in 2015-16 to Rs. 1.92 lakh crore (US$ 24.43 billion) in 2022-23 (as per First Revised Estimates of Ministry of Statistics and Programme Implementation). India's diverse agro-climatic conditions allow for abundant production of cereals, pulses, fruits, and vegetables, making it a leading producer of various foods. India was a global leader in milk production contributing ~25% to global milk production, in 2022-23. The country ranked second in vegetables and fruits and egg production and fifth in meat production, respectively, in 2022-23. Additionally, India is the largest producer of spices in the world, with 11.26 million tonnes of major spices produced in 2022-23, as per the third advanced estimate by spices board of India. The food processing industry in India is still in its early stages, contributing less than 10% to the total food output. According to a Deloitte study on Level of Food Processing in India, processing levels were at 2.7% for vegetables, 4.5% for fruits, 15.4% for fishery, 21.1% for milk, and 34.2% for meat in 2020-21. A strong food processing industry is essential for our nation to tackle food and nutritional security issues. Processed food offers convenience, extended shelf life, easy transport to remote areas, and improved accessibility, serving as a valuable source of nourishment. Additionally, it offers our farmers increased opportunities for better price realization and expanded selling prospects.
Company History
Our Company was incorporated as "Shivashrit Foods Private Limited", on August 23, 2017, a private limited company under the Companies Act, 2013 pursuant to a certificate of incorporation granted by the Registrar of Companies, Kanpur at Uttar Pradesh ("RoC" or "Registrar of Companies"). Upon the conversion of our Company into a public limited company, pursuant to resolution passed by our Board of Directors on July 10,2024 and a special resolution passed by our Shareholders on August 5, 2024, the name of our Company was changed to "Shivashrit Foods Limited" and a fresh certificate of incorporation dated October 4, 2024, having CIN number U15490UP2017PLC096223.
Products & Services
- The company is manufacturer, supplier and exporter of Potato Flakes.
Growth Strategy
- Expansion with a new plant setup in the existing facility.
- B2C Segment launch and enhancement of brand visibility.
- Establishing strong customer relationships including the global footprint
- Strengthening long-term supplier relationships and procurement processes.
- Tapping increasing demand for ready to eat category, wide range of applications and untapped retail market in India.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of upto 49,32,000 equity shares of face value of Rs. 10/- each of Shivashrit Foods Limited ("SFL" or the "company" or the "offeror") for cash at a price of Rs. 142/- per equity share including a share premium of Rs. 132/- per equity share (the "offer price") aggregating to Rs. 70.03 crores ("the offer") comprising of a fresh issue upto 43,16,000 equity shares aggregating to Rs. 61.29 crores (the "fresh issue") and an offer for sale of upto 6,16,000 equity shares by selling shareholders aggregating to Rs. 8.75/- crores ("offer for sale"), of which 2,48,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 142/- per equity share including a share premium of Rs. 132/- per equity share aggregating to Rs. 3.52 crores is reserved for subscription by market maker to the offer (the "market maker reservation portion"). The offer less the market maker reservation portion i.e. net offer of 46,84,000 equity shares of face value of Rs. 10/- each at an offer price of Rs. 142/- per equity share including a share premium of Rs. 132/- per equity share aggregating to Rs.66.51 crores is hereinafter referred to as the "Net Offer". The offer and the net offer is constituteed to 27.00% and 25.64%, respectively, of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10/- each.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Experienced Promoters and Management Team.
- Support of efficient supply-chain enable us to have long-standing and deep customer relationships.
- Manufacturing Facility.
- Strategic location for potato procurement process and storage. We have also accrued benefits from the Central and State government policies, incentives and subsidies for setting up a food processing unit in Aligarh.
- The company derives a significant portion of its revenue from operations from domestic sales which exposes it to risks specific to Indian geographies and market.
- The Company derive revenue from diversified customers. its inability to acquire new customers or loss of all or a substantial portion to any of the company major customers, for any reason and/or continued reduction of the business from them, could have a material adverse impact on its business, results of operations, cash flows and financial condition.
- The Company is dependent on limited number of suppliers for supply of raw materials and the company has not made any long-term supply arrangement or agreement with its suppliers. In an eventuality where the company suppliers are unable to deliver it the required materials, at a competitive price, in a time-bound manner it may have a material adverse effect on the company business operations and profitability. The majority of its raw materials are sourced from few key suppliers. Discontinuation of the operations of such suppliers may adversely affect the company ability to source raw materials at a competitive price.
- Any increase in the cost of the company raw material or a shortfall in the supply of its raw materials, may adversely affect the pricing and supply of the company products and have an adverse effect on its business, results of operations and financial condition.
- Inadequate storage conditions of raw materials may compromise product integrity and affect business operations and financial conditions.