Srivari Spices and Foods Limited is gearing up for its much-anticipated Initial Public Offering (IPO) through a book-built issue. The IPO is scheduled to run from August 07 to August 09, 2023, with a share price range of ₹40 to ₹42. Investors can participate with a minimum order of 3000 shares.
The IPO will comprise 2,142,000 shares with a face value of Rs. 10 each, potentially raising funds of up to ₹9 crore for Srivari Spices and Foods Limited. Let’s delve into the details of their IPO set to hit the market in August 2023.
About Srivari Spices and Foods Limited
Established in 2019, Srivari Spices and Foods Limited specializes in manufacturing spices and flour (chakki atta) and handles marketing and sales operations. Operating primarily in Telangana and Andhra Pradesh, the company offers diverse spice products.
Srivari sources raw materials from various regions, processing them carefully without artificial preservatives or chemicals, resulting in organic spices and flour. The products are distributed through two business models: Direct to the customer (D2C) and Business to business (B2B).
In 2021, the company received recognition as the “Best Emerging Spices Brand 2021” by Business Mint. It operates two manufacturing facilities, with the first established in Jalpally Village, Ranga Reddy District, Telangana, in 2019, and the second in Raikal Village, Farooqnagar Mandal, Ranga Reddy District, Telangana, in 2021.
Srivari Spices and Foods IPO Issue Details
| Issue Type | Book Built IPO Issue |
| Issue Opens | 7th August 2023 |
| Issue Closes | 9th August 2023 |
| Face Value | Rs 10 Per Share |
| Issue Price | Rs 40 to Rs 42 Per Share |
| Issue Size | 2,142,000 shares (Rs 9 crores) |
| Minimum Order Quantity | 3000 Shares |
| Listing | NSE, SME |
Purpose of the Issue
The company plans to utilize the proceeds of the issue for the following purposes:
- Funding the working capital requirements of our Company.
- General corporate purposes.
Srivari Spices and Foods Limited — Company Contact Details
- Registered & Corporate Office: Shed No. 5-105/4/A, SY No.234/A, Sriram Industrial Area, Kattedan, Jalpally, Hyderabad – 500 077
- Telephone: +91 737 588 8999
- Website: http://www.srivarispices.com/
Srivari Spices and Foods IPO – Lead Managers of the Issue
GYR Capital Advisors Private Limited
- Office Address: 428, Gala Empire, Near T.B. Tower Drive In Road Thaltej, Ahmedabad – 380054 Gujarat, India
- Telephone: +91-82009 31018
- Email: info@gyrcapitaladvisors.com
Srivari Spices and Foods IPO – Registrar of the Issue
Bigshare Services Pvt Ltd
- Telephone:+91-22-6263 8200
- Email: ipo@bigshareonline.com
- Website: https://ipo.bigshareonline.com/ipo_status.html
Srivari Spices and Foods Limited IPO Issue Prospectus
Click here to read the Final Prospectus of this IPO Issue.
Disclaimer: Investingly just provides basic information as update about the issues. Investingly never gives advices or recommendations to anyone. Investments into securities are subject to market risk. Please read the offer and issue documents carefully before investing. It is also advised to consult your financial advisor for necessary suggestions.
