August 14, 2025
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Last Subscription Tally
| Size Rs. 33.08 Crore | ||||
| QIB | NII x | RII x | Total x | Applications |
| 15.83 | 20.11 | 8.92 | 13.32 | 4624 |
| Subscription Review: Subscription trend improved on the last day |
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About Sawaliya Food Products
Incorporated in July 2014, Sawaliya Food Products Limited is engaged in the manufacturing and processing of dehydrated vegetables, catering primarily to the branded packaged food industry and global importers. With a strong focus on dehydrated carrots, cabbage, and string beans, the company’s products find extensive application in FMCG staples like cup noodles, ready-to-eat noodles, pasta, and soups.
Operating from Dhar, Madhya Pradesh, its two manufacturing units have a combined capacity of about 1,500 MT of dehydrated products. Sawaliya not only serves the domestic market but also exports to key regions, including the United States. The company follows a zero-wastage policy, monetizing unused raw materials such as carrots and supplying sub-standard output to the pet food industry. As of June 30, 2025, it employed 25 personnel across various functions.
Sawaliya Foods Products IPO Details
|
Sector: Seafood Exports |
|
| IPO opens on | 7 August 2025 |
| IPO closes on | 11 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2902,800 Shares / Rs 34.83 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 146,400 Shares |
| Net offer to Public | 24,56,400 Shares Rs. 29.48 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 114-120 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | NSE SME |
How shares are being offered
How shares can be applied?
|
Application |
Lots | Shares | Amount Rs. |
| Retail Min | 2 | 2,400 | 2,88,000 |
| Retail (Max) | 2 | 2,400 | 2,88,000 |
| S-HNI (Min) | 3 | 3,600 | 4,32,000 |
| S-HNI (Max) | 6 | 7,200 | 8,64,000 |
| B-HNI (Min) | 7 | 8,400 | 10,08,000 |
Who are the Promoters of Sawaliya Foods Products IPO?
The promoters hold 96.00% of the pre-IPO capital
What are the Objects of Sawaliya Foods Products IPO?
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
+Funding capital expenditure requirements towards (i) purchase of new machinery and upgradation of existing machinery installed; and (ii) setting up of on-grid rooftop solar PV system of a capacity of 149.04KWp at the existing manufacturing unit Rs. 7.49 Crore
+Funding of working capital requirements Rs. 10 Crore
+Repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company Rs. 4.61 Crore
+General Corporate Purposes
Sawaliya Foods Products IPO Timetable
Tentative timetable |
|
| IPO opens on | 7 August 2025 |
| IPO Closes on | 11 August 2025 |
| IPO Allotment on | 12 August 2025 |
| Refund Initiation | 13 August 2025 |
| Credit of Shares | 13 August 2025 |
| Listing on | 14 August 2025 |
| Registered Office of the Company Sawaliya Foods Products Ltd. Survey No. 9/2/1/2 Gavla Tehsil Pithampur, Dhar, Madhya Pradesh, 454775 |
| Lead Managers of this IPO Unistone Capital Pvt ltd |
| Who is the Registrar to the IPO? Skyline Financial Services Pvt ltd |
Sawaliya Foods Products Financials Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 46.26 | 25.4 | 20.04 |
| Revenue | 34.34 | 23.67 | 15.3 |
| Profit After Tax | 6.95 | 3.12 | 0.59 |
| EBITDA | 12.22 | 6.12 | 1.69 |
| Net Worth | 12.65 | 5.7 | 2.58 |
| Reserves and Surplus | 5.33 | 5.58 | 2.46 |
| Total Borrowing | 22.49 | 12.93 | 13.36 |
| Amount in Rs. Crore | |||
Performance Indicators
| KPI | Values |
| ROE | 75.70% |
| ROCE | 48.96% |
| Debt/Equity | 1.78 |
| RoNW | 54.91% |
| PAT Margin | 20.32% |
| EBITDA Margin | 35.74% |
| Price to Book Value | 6.94 |
| EPS | 7 |
| PE Ratio | 17.14 |
How Sawaliya Foods Products IPO compares with the Peers?
There is no listed company having similar nature of business
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Chanakya’s IPO Review – Sawaliya Foods Products by Paresh Gordhandas, CA & Research Analyst
Business Overview
Incorporated in July 2014, Sawaliya Food Products Limited is a manufacturer and processor of dehydrated vegetables, with a strong presence in the branded packaged food industry and global exports. Its key products — dehydrated carrots, cabbage, and string beans — are widely used in cup noodles, ready-to-eat noodles, pasta, and soups. The company operates from Dhar, Madhya Pradesh, with a total capacity of 1,500 MT per year across two facilities. Export markets, including the United States, form a meaningful part of its revenue mix. A zero-wastage policy further enhances cost efficiency, with even sub-standard produce monetized via the pet food industry.
Financial Performance
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Revenue Growth: Sawaliya reported a sharp rise in revenue from Rs.15.30 crore in FY23 to Rs34.34 crore in FY25, reflecting CAGR of ~49%.
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Profitability: Profit After Tax surged nearly 12x in 2 years, from Rs0.59 crore in FY23 to Rs6.95 crore in FY25.
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EBITDA Margin: Expanded impressively to 35.6% in FY25 from 11.0% in FY23, highlighting operational efficiency.
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Net Worth: More than doubled in FY25 to Rs12.65 crore, improving balance sheet strength.
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Leverage: Total borrowings stood at Rs22.49 crore (FY25), indicating reliance on debt for expansion; however, rising profits provide comfort.
Valuation Perspective
Considering FY25 earnings (PAT ₹6.95 crore) and the IPO price band of Rs114-Rs120 per share, the IPO seems reasonably priced compared to other SME peers, especially given the sharp improvement in profitability and healthy export footprint. Still, high leverage is a key risk investors must monitor.
Chanakya View
With strong revenue visibility, expanding margins, and a zero-wastage model, Sawaliya Food Products IPO appears attractive for investors with medium- to long-term horizons, though leveraged balance sheet demands caution. Short-term listing gains cannot be ruled out, given sector tailwinds and improved financial performance.
Chanakya Subscription Guidance – Sawaliya Food Products IPO
| Investor Category | Guidance |
|---|---|
| Retail Investors | Suitable for investors with medium- to long-term horizon. Strong growth and profit jump, but note higher borrowings. |
| HNI / NII Investors | Can consider larger application given strong fundamentals and export footprint. |
| Risk Appetite | Moderate – Attractive margins and growth, but debt levels require monitoring. |
| Listing Gains | Possibility of moderate gains given strong demand in FMCG-related IPOs. |
Quicklinks
Sawaliya Foods Products IPO GMP
Sawaliya Foods Products IPO review
Sawaliya Food Products Limited manufactures and processes dehydrated vegetables such as carrots, cabbage, and string beans. Its products are mainly used in cup noodles, ready-to-eat noodles, pasta, and soups, and are also exported to markets like the United States.
The IPO opens for subscription on August 7, 2025, and closes on August 11, 2025.
The price band of the IPO is fixed at Rs.114 to Rs.120 per share. The lot size is 1,200 shares.
