Leo Dry Fruits and Spices is coming up with an IPO offering 48,30,000 fresh equity shares of the company, aggregating to INR 25.12 crores. The company intends to use the funds raised to fund working capital requirements, branding, advertisement and marketing activities and for general corporate purposes.
Leo Dry Fruits and Spices IPO – Important Dates
| Leo Dry Fruits and Spices IPO Date | January 1, 2025 to January 3, 2025 |
| Leo Dry Fruits and Spices IPO Listing Date | January 8, 2025 |
| Leo Dry Fruits and Spices IPO Price | INR 51-52 per share |
| Leo Dry Fruits and Spices IPO Lot Size | 2000 Shares |
| Leo Dry Fruits and Spices IPO Total Issue Size | INR 25.12 crores |
| Leo Dry Fruits and Spices IPO Basis of Allotment | January 6, 2025 |
| Leo Dry Fruits and Spices IPO Initiation of Refunds | January 7, 2025 |
| Leo Dry Fruits and Spices IPO Credit of Shares to Demat | January 7, 2025 |
| Leo Dry Fruits and Spices IPO Issue Type | Book Built Issue |
| Leo Dry Fruits and Spices IPO Listing At | BSE SME |
Leo Dryfruits IPO – Company Profile
The company is engaged in manufacturing/processing, trading and marketing a wide range of spices, dry fruits and other grocery products under the brand name “VANDU” and frozen/semi-fried products under the brand name “FRYD”.
The company is currently engaged in supplying various whole spices and blended spices under the spices category, plain, roasted and flavoured dry fruits under the dry fruits category and ghee, various types of seasoning, chiz bites, poppy seeds, sesame seeds and many more under other grocery products category in different packaging sizes.
To expand the product range, they are selling ghee under the brand name “VANDU”, which is manufactured and packed by a reliable manufacturer that adheres to strict quality standards along with the necessary approvals to ensure the customers receive the same level of quality and excellence expected from the brand.
The Company is also dealing in other grocery products such as seasonings, chilli flakes, garlic powder, asafoetida (hing), black salt, pulses, dry ginger, fennel seeds, fenugreek seeds, nigella seeds, mace, nutmeg, etc., which are sourced from third party producers or wholesalers and sell under “Vandu” brand.
Leo Dryfruits & Spices Trading Ltd IPO Fundamental Analysis
Leo Dryfruits & Spices Trading demonstrates strong historical growth and financial improvements in FY2024. However, the declining profitability and RoNW in H1 FY2025 suggest operational challenges. Investors with moderate risk tolerance should consider investing with close monitoring of future revenue and profitability trends.
1. Revenue: Revenue growth in FY2024 is robust. However, H1 FY2025 revenue constitutes only ~28.8% of FY2024, indicating a potential slowdown in momentum.
2. Equity and Liabilities: The significant increase reflects retained earnings and potential equity infusion. H1 FY2025 shows stability, supporting future growth. Liabilities decreased in FY2024, but the sharp rise in H1 FY2025 suggests potential increases in borrowing.
3. Profitability: Profitability is stable historically, but H1 FY2025 trends are concerning.
4. Return on Net Worth (RoNW): The sharp decline in RoNW reflects equity expansion and reduced efficiency in generating returns
5. Earnings Per Share (EPS): EPS grew steadily until FY2024 but declined significantly in H1 FY2025. Annualising H1 EPS results in ₹2.86, suggesting weaker performance.
6. Asset management: the significant asset growth reflects investments in scaling operations.
Leo Dry Fruits and Spices IPO Financial Analysis
| Particular | As of 31 March 2023 | As of 31 March 2024 | As of 30 September 2024 |
| Revenue (₹ in lakhs) | 3,643.96 | 6,216.59 | 1,788.12 |
| Equity (₹ in lakhs) | 499.91 | 3,390.26 | 3,577.44 |
| Expenses (₹ in lakhs) | 3,111.57 | 5,267.83 | 1,520.64 |
| Profit and Loss After Tax (₹ in lakhs) | 535.26 | 958.68 | 267.60 |
| RoNW (%) | 72.71 | 19.58 | 5.23 (not annualised) |
| Diluted EPS only (₹) | 4.01 | 5.21 | 1.43 |
| NAV per Equity Share (₹) | 5.51 | 26.63 | 27.39 |
| Total Assets (in lakhs) | 2,664.01 | 5,234.95 | 6,988.78 |
| Total Liabilities (in lakhs) | 2,164.10 | 1,844.69 | 3,411.34 |
| Debt Equity Ratio (in times) | 3.07 | 0.27 | 0.47 |
| Current Ratio (in times) | 1.47 | 2.64 | 2.01 |
Leo Dryfruits IPO Peer Comparison
Leo Dryfruits & Spices Trading Limited offers a high RoNW of 19.58% and ₹5.21 EPS. Madhusudan Masala Ltd leads with ₹8.27 EPS, while HOAC Foods excels with a strong 30.53% RoNW.
| Company | Face Value per Equity Share (₹) | P/E | EPS (₹) | RoNW (%) | NAV per Equity Share (₹) |
| Leo Dryfruits & Spices Trading Limited | 10 | NA | 5.21 | 19.58 | 26.63 |
| Jetmall Spices and Masala Limited | 10 | 156.43 | 0.07 | 0.44 | 16.22 |
| HOAC Foods India Limited | 10 | 32.22 | 3.88 | 30.53 | 12.69 |
| Madhusudan Masala Ltd | 10 | 24.65 | 8.27 | 19.97 | 35.70 |
Leo Dryfruits & Spices Trading Ltd IPO Objective
Leo Dryfruits & Spices Trading plans to allocate ₹15 crores for working capital, ₹4.25 crores for branding and marketing to enhance product awareness, and remaining funds for general corporate purposes to strengthen operations and management synergies.
- Funding working capital requirements: The business is working capital intensive. The company propose to utilise INR 15 crores from the Net Proceeds to fund the future working capital requirements.
- Branding, Advertisement and Marketing activities: In the industry in which they operate, awareness of consumers regarding products is a significant factor contributing to market share. Branding, marketing, and advertising activities create product awareness and educate potential consumers to make a purchase decision. The company plans to utilise INR 4.25 crores for the said purpose.
- General corporate purposes: The company will deploy funds for general corporate purposes and target synergies benefiting from management expertise, R&D, manufacturing, and distribution network.
Leo Dry Fruits and Spices IPO Risks And Challenges
Leo Dryfruits & Spices Trading is a new entrant in the grocery sector, faces uncertainty in revenue growth, is involved in legal proceedings posing financial risks, and has a history of negative cash flows impacting operations.
- The company is a new player in spice, dry fruits, frozen/semi-fried, and other grocery businesses, and there is no assurance that it will be able to maintain or increase revenue from operations in the long term.
- The Company, Promoters and Directors are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render them liable to liabilities/penalties/prosecutions and adversely affect the business and results of operations.
- The company has experienced negative cash flows from operations in the recent past and has negative cash flows in the future.
Leo Dryfruits & Spices Trading Ltd IPO – Industry & Market Potential
India is the world’s largest spice producer. It is also the largest consumer and exporter of spices. The production of different spices has been growing rapidly over the last few years. Production in 2022-23 stood at 11.14 million tonnes compared to 11.12 million tonnes in 2021-22. During 2022-23, the export of spices from India stood at US$ 3.73 billion from US$ 3.46 billion in 2021-22.
During 2021-22, the single largest spice exported from India was chilli, followed by spice oils, oleoresins, mint products, cumin, and turmeric.
India is the largest exporter of spice and spice items. During 2023-24 (until February 2024), the country exported spices worth US$ 3.67 billion. India exported spices and spice products to 159 destinations worldwide as of 2023-24 (until February 2024). The top destinations among them were China, the USA, Bangladesh, the UAE, Thailand, Malaysia, Indonesia, the UK, and Sri Lanka. These nine destinations comprised more than 70% of the total export earnings in 2023-24 (until February 2024).
Leo Dryfruits IPO – Type of Offer
Leo Dry Fruits and Spices is launching an IPO of 48,30,000 fresh equity shares, aggregating to INR 25.12 crores, to fund working capital needs, branding, marketing, and general corporate purposes.
Leo Dryfruits & Spices Trading Limited IPO Offer Size
The IPO offer size of Leo Dry Fruits and Spices comprises 48,30,000 fresh equity shares, aggregating to INR 25.12 crores, aimed at funding working capital requirements, branding, marketing activities, and general corporate purposes.
Leo Dryfruits IPO Allotment Structure
Leo Dry Fruits and Spices Limited allocation will be as follows: 50% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 35% for Retail Individual Investors (RII) according to SEBI regulations. 2,46,000 shares are reserved for market makers.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.
● Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.
● Market Maker Reservation: A portion of shares, i.e. 2,46,000 shares, are reserved for market makers.
How to apply for the Leo Dry Fruits and Spices IPO?
To apply for the Leo Dry Fruits and Spices IPO through Alice Blue, you would typically follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the Leo Dry Fruits and Spices IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for Leo Dry Fruits and Spices IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How to Check Leo Dry Fruits and Spices IPO Allotment Status on Alice Blue?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or the trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the Leo Dry Fruits and Spices IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Leo Dry Fruits and Spices IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, we request you reach out to our customer support team at Alice Blue for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Leo Dry Fruits and Spices IPO:
● Registrar’s Website: Visit the website of Bigshare Services Private Limited, the registrar of the Leo Dry Fruits and Spices IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● BSE SME: You can also check the allotment status on the official websites of the Bombay Stock Exchange (BSE) SME (Small Medium Enterprise) Platform. You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after the allotment process has been completed, a few days after the IPO window closes.
Leo Dry Fruits and Spices Ltd IPO Offer Registrar
The registrar for the Leo Dry Fruits and Spices Limited IPO is Bigshare Services Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
Bigshare Services Private Limited
Office No. S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali CavesRoad,
Andheri East, Mumbai – 400 093, Maharashtra, India
Tel: 022 – 6263 8200
E-mail: [email protected]
Website: www.bigshareonline.com
Leo Dry Fruits and Spices Ltd IPO FAQs
What is the allotment date of the Leo Dry Fruits and Spices IPO?
The allotment date of Leo Dry Fruits and Spices IPO is January 6, 2025.
What is the price band of Leo Dry Fruits and Spices IPO?
The price band of Leo Dry Fruits and Spices IPO is INR 51-52 per share.
What is the size of the Leo Dry Fruits and Spices IPO?
The IPO offer size of Leo Dry Fruits and Spices comprises 48,30,000 fresh equity shares, aggregating to INR 25.12 crores, aimed at funding working capital requirements, branding, marketing activities, and general corporate purposes.
What is the listing date of the Leo Dry Fruits and Spices IPO?
The listing date of Leo Dry Fruits and Spices IPO is January 8, 2025.
Where is the Leo Dry Fruits and Spices IPO Getting Listed?
Leo Dry Fruits and Spices is getting listed on the SME (Small Medium Enterprise) Platform of the Bombay Stock Exchange (BSE).
What are the open and close dates of the Leo Dry Fruits and Spices Limited IPO?
The open and close dates of Leo Dry Fruits and Spices Limited are January 1, 2025, and January 3, 2025, respectively.
How to apply for Leo Dry Fruits and Spices Ltd IPO in Alice Blue?
To apply for the Leo Dry Fruits and Spices Limited IPO through Alice Blue, open a Demat and Trading account, check IPO details, place your bid, and submit your application. After allotment, check your status. Share allotment depends on IPO demand.
Who is the Book Runner for the Leo Dry Fruits and Spices IPO?
The Book Runner for Leo Dry Fruits and Spices is Shreni Shares Limited.
