Shivashrit Foods IPO opens for subscription; GMP at 9% signals cautious optimism

The IPO of Shivashrit Foods, a potato flakes manufacturer and exporter, will open for subscription on Friday. The Rs 70.03 crore book-built issue comprises a fresh issue of Rs 61.29 crore and an offer for sale (OFS) worth Rs 8.75 crore. The IPO is trading at a GMP of around 9%, indicating a likely listing premium of Rs 12–13 per share over the upper price band.

The company has fixed the price band at Rs 135–142 per share, while the lot size is 2,000 shares, requiring a minimum investment of Rs 2.70 lakh.

The IPO will close on Tuesday with shares expected to list on NSE SME on September 1.

About the company

Founded in 2017, Shivashrit Foods operates a potato processing facility in Aligarh, Uttar Pradesh, producing high-quality potato flakes used in ready-to-eat meals, snacks, and processed food industries. Its brands include “Shivashrit,” “Shreeaahar,” and “Flaker’s”.

The company exports to over 20 countries, including the US, Brazil, Israel, Mexico, and Indonesia, besides catering to domestic markets across multiple Indian states.

Financials

For FY25, Shivashrit Foods reported a 36% YoY increase in revenue to Rs 105.85 crore, while profit after tax inched up 4% to Rs 12.06 crore.

Mark Corporate Advisors is the book-running lead manager, and Maashitla Securities is acting as registrar to the issue.