Shivashrit Foods IPO Key Dates
| Anchor Investor Subscription | |
| IPO opens on | 22.08.2025 |
| IPO Closes on | 26.08.2025 |
| Allotment on | 28.08.2025 |
| Credit of shares on | 29.08.2025 |
| Tentative Listing on | 01.09.2025 |
Shivashrit Foods IPO Condenses Verdict
The IPO offers exposure to a fast-growing food processing company with strong export reach and proven demand. It may attract investors looking for growth in the FMCG & food ingredients sector, but the rising debt burden and margin sustainability need close monitoring.
Final Subscription Tally
| Size Rs. 66.51 Crore | ||||
| QIB | NII x | RII x | Total x | Applications |
| 1.59 | 5.16 | 2.65 | 2.89 | 2577 |
| Subscription Review: Very Weak trend on Day 3 |
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About Shivashrit Foods
Shivashrit Foods Limited, incorporated in August 2017, is engaged in the manufacturing, supply, and export of premium potato flakes used in ready-to-eat meals, snacks, and processed foods. The company operates a modern potato processing facility at Aligarh, Uttar Pradesh, equipped to produce high-quality flakes with consistent standards and long shelf life.
The unit is accredited with certifications from FSSAI, ISO 22000:2018, HALAL, BRCGS (Intertek-UKAS certified) and USFDA, ensuring compliance with both domestic and international food safety norms.
The company markets its products under three brand names – “Shivashrit,” “Shreeaahar,” and “Flaker’s.” It has established a strong distribution network across key Indian states including Madhya Pradesh, Uttarakhand, Maharashtra, Punjab, Gujarat, Haryana, Delhi, Rajasthan, Uttar Pradesh, West Bengal, and Bihar.
On the global front, Shivashrit Foods exports to multiple countries across Asia, Middle East, North America, and Latin America, including USA, Mexico, Brazil, Chile, Argentina, Turkey, Israel, Indonesia, Malaysia, UAE, and Bangladesh, among others.
Shivashrit IPO Details
|
Sector: |
|
| IPO opens on | 22 August 2025 |
| IPO closes on | 26 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 32,00,000 Shares / Rs ? Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | ? Shares |
| Net offer to Public | ? Shares Rs. ? Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. ? |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | ? Shares |
| Listing will at | NSE SME |
How shares are being offered
|
Category |
Shares Offered |
| QIB | Not more than 50% of the Net Issue |
| Retail | Not less than 35% of the Offer |
| NII | Not less than 15% of the Net Issue |
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 2,000 | 2,84,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | 2,84,000 |
| S-HNI (Min) | 3 | 3,000 | 4,26,000 |
| S-HNI (Max) | 7 | 7,000 | 9,94,000 |
| B-HNI (Min) | 8 | 8,000 | 11,36,000 |
Who are the Promoters of Shivashrit Foods IPO?
The promoters hold 100.00% of the pre-IPO capital
What are the Objects of Shivashrit Foods IPO?
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
+Capital Expenditure (“Expansion Project”) Rs. 26.93 Crore
+Working Capital Requirement for Expansion Project Rs. 19.00 Crore
+General Corporate purposes
Shivashrit Foods IPO Lead Managers
MARC Corporate Advisors Pvt ltd
| Registered Office of the Company |
| Shivashrit Foods Ltd. Gopal Ganj Sarai Lavaria , Aligarh, Uttar Pradesh, 202001 |
| Who is the Registrar to the IPO? Maashitla Securities Pvt ltd |
ShivaShrit Foods Financials Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 108.78 | 83.07 | 48.48 |
| Total Income | 105.85 | 77.55 | 45.61 |
| Profit After Tax | 12.06 | 11.61 | 1.52 |
| EBITDA | 23.1 | 19.87 | 4.95 |
| Net Worth | 34.6 | 22.54 | 10.93 |
| Reserves and Surplus | 20.64 | 17.89 | 6.28 |
| Total Borrowing | 47.96 | 36.97 | 22.67 |
Performance Indicators
| KPI | Values |
| ROE | 42% |
| ROCE | 42.73% |
| Debt/Equity | 1.39 |
| RoNW | 34.85% |
| PAT Margin | 11.51% |
| EBITDA Margin | 22.06% |
| Price to Book Value | 1.91 |
| EPS-Post | 6.6 |
| PER-Post | 21.52 |
How ShivaShrit Foods IPO compares with the Peers?
There is no listed company having business similar to this company
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Shivashrit IPO Review
by Paresh Gordhandas, CA & Research Analyst
Incorporated in 2017, Shivashrit Foods Limited is a manufacturer, supplier, and exporter of premium potato flakes catering to both domestic and global food manufacturers. Its modern facility in Aligarh, Uttar Pradesh is well-accredited with certifications such as FSSAI, ISO 22000:2018, HALAL, BRCGS (Intertek-UKAS) and USFDA, ensuring compliance with stringent international food safety standards.
The company markets products under the brands “Shivashrit,” “Shreeaahar,” and “Flaker’s.” It has strong domestic penetration across key states (Madhya Pradesh, Maharashtra, Gujarat, Delhi, Rajasthan, Punjab, West Bengal, etc.) and an expanding export footprint across North & South America, Asia, and the Middle East, including the USA, Mexico, Brazil, Chile, Argentina, Israel, Malaysia, UAE, and Bangladesh.
Observations
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Strong Growth: Revenue more than doubled from ₹45.61 Cr (FY23) to ₹105.85 Cr (FY25) in just two years, reflecting strong demand.
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Profitability: PAT surged from just ₹1.52 Cr in FY23 to ₹12.06 Cr in FY25, though growth slowed between FY24–FY25, indicating margin pressure.
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EBITDA Margin: Improved significantly from ~11% in FY23 to ~21% in FY25, a sign of operational efficiency.
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Leverage: Borrowings rose sharply to ₹47.96 Cr in FY25, indicating expansion-driven debt. Rising debt-to-equity is a risk if cash flows tighten.
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Net Worth: Healthy improvement from ₹10.93 Cr (FY23) to ₹34.60 Cr (FY25), showing strengthening fundamentals.
