Srivari Spices and Foods Limited, founded in 2019, is a spice and flour (chakki atta) manufacturing company. The corporation also manages the marketing and sales of its products. The company mostly operates in and around Telangana and Andhra Pradesh.
Srivari Spices and Foods’ product categories are Spices, Masala, and Atta. These include a variety of spice items. The spices are delivered to over 3000 retail shops in Telangana and Andhra Pradesh, and the whole wheat and sharbati atta to over 15000 outlets.
Srivari Spices and Foods sources raw resources from all across the country and then processes them to make finished goods. The entire procedure is carried out with extreme caution and without the use of any artificial preservatives or chemicals. This allows them to produce organic spices and flour that retain the freshness and goodness of each ingredient.
To market its final products, the corporation employs two business models:
- D2C (direct to customer)
- B2B (business-to-business)
Srivari Spices was named the “Best Emerging Spices Brand 2021” by Business Mint in 2021. The company operates two production plants. The company’s first production facility was created in 2019 in Jalpally Village Ranga Reddy District, Telangana, where it began its principal operations. The second unit opened in Raikal Village, Farooqnagar Mandal, Ranga Reddy District, Telangana in 2021.
Srivari Spices and Foods IPO Details
IPO Date | Aug 7, 2023 to Aug 9, 2023 |
Listing Date | [.] |
Face Value | Rs 10 per share |
Price | Rs 40 to Rs 42 per share |
Lot Size | 3000 Shares |
Total Issue Size | 2,142,000 shares (aggregating up to Rs 9.00 Cr) |
Fresh Issue | 2,142,000 shares (aggregating up to Rs [.] Cr) |
Issue Type | Book Built Issue IPO |
Listing At | NSE SME |
Share holding pre issue | 5,000,000 |
Share holding post issue | 7,142,000 |
Market Maker portion | 108,000 shares |
Srivari Spices and Foods IPO Timetable
IPO Open Date | Monday, 7 August 2023 |
IPO Close Date | Wednesday, 9 August 2023 |
Basis of Allotment | Monday, 14 August 2023 |
Initiation of Refunds | Wednesday, 16 August 2023 |
Credit of Shares to Demat | Thursday, 17 August 2023 |
Listing Date | Friday, 18 August 2023 |
Cut-off time for UPI mandate confirmation | 5 PM on Aug 9, 2023 |
Srivari Spices and Foods IPO Lot Size
Application | Lots | Shares | Amount |
---|---|---|---|
Retail (Min) | 1 | 3000 | Rs 126,000 |
Retail (Max) | 1 | 3000 | Rs 126,000 |
HNI (Min) | 2 | 6,000 | Rs 252,000 |