Shivashrit Foods IPO worth ₹70.03 Cr opens on Aug 22, 2025
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Introduction
When I first came across Shivashrit Foods Ltd., I was curious about what makes a potato flakes company go public. It’s not every day you hear about a food processing unit in Aligarh gearing up for an IPO worth ₹70.03 crores. This IPO has already caught the attention of many investors, especially those who keep an eye on niche food processing businesses. Let’s break down the details and figure out whether this IPO deserves a place in your portfolio.
IPO Details
Here’s a snapshot of the offering:
Particulars
Details
IPO Opening Date
August 22, 2025
IPO Closing Date
August 26, 2025
Listing Date (Tentative)
September 1, 2025
Price Band
₹135 – ₹142 per share
Face Value
₹10 per share
Lot Size
1,000 shares
Total Issue Size
49,32,000 shares (₹70.03 Cr)
Fresh Issue
40,68,000 shares (₹57.77 Cr)
Offer for Sale (OFS)
6,16,000 shares (₹8.75 Cr)
Lead Manager
Mark Corporate Advisors Pvt. Ltd.
Registrar
Maashitla Securities Pvt. Ltd.
Market Maker
Asnani Stock Broker Pvt. Ltd.
IPO Timeline
Event
Date
IPO Open Date
Fri, Aug 22, 2025
IPO Close Date
Tue, Aug 26, 2025
Basis of Allotment
Thu, Aug 28, 2025
Refunds Initiation
Fri, Aug 29, 2025
Credit of Shares in Demat
Fri, Aug 29, 2025
Tentative Listing Date
Mon, Sep 1, 2025
Lot Size & Investment Details
Investors can bid in multiples of 1,000 shares. Here’s how the investment looks for different categories:
Category
Lots
Shares
Amount
Retail (Min/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
Promoter Holding
Shareholding
Pre-Issue
Post-Issue
Promoters
100%
To be updated after equity dilution
The promoters include Mr. Prashant Singhal, Mr. Nishant Singhal, Mrs. Sunita Singhal, and Mr. Ramesh Chand Singhal.
About Shivashrit Foods Ltd.
Founded in 2017, Shivashrit Foods Ltd. manufactures and exports potato flakes, which are widely used in ready-to-eat meals, snacks, and processed foods.
Their manufacturing plant in Aligarh, Uttar Pradesh is equipped with certifications like FSSAI, ISO 22000:2018, HALAL, BRCGS (Intertek, UKAS certified), and USFDA.
The company markets its products under three brand names:
Shivashrit
Shreeaahar
Flaker’s
Domestic reach: 10+ states in India including Maharashtra, Gujarat, Delhi, UP, Punjab, and more. Exports: 20+ countries including USA, Israel, Mexico, Brazil, Indonesia, and Dubai.
Competitive Strengths
Experienced management team with domain expertise.
Modern machinery & advanced technology in potato flakes production.
Strategic location in Aligarh, helping reduce raw material costs and benefiting from government incentives.
Company Financials
Financial Performance (₹ in Crores):
Period Ended
Mar 31, 2025
Mar 31, 2024
Mar 31, 2023
Assets
108.78
83.07
48.48
Total Income
105.85
77.55
45.61
PAT
12.06
11.61
1.52
EBITDA
23.10
19.87
4.95
Net Worth
34.60
22.54
10.93
Reserves
20.64
17.89
6.28
Borrowing
47.96
36.97
22.67
The company has shown 36% revenue growth YoY and an increase in profitability, which investors always like to see.
Key Performance Indicators (KPIs)
KPI
Value
ROE
42%
ROCE
42.73%
Debt/Equity
1.39
RoNW
34.85%
PAT Margin
11.51%
EBITDA Margin
22.06%
P/BV
1.91
Market Cap: ₹259.42 Cr P/E (Post Issue): 21.52x
Objects of the Issue
The IPO proceeds will be utilized as follows:
Capital Expenditure (Expansion Project): ₹263 Million
Working Capital Requirement: ₹190 Million
General Corporate Purpose
IPO Review & Analysis
Analyst Dilip Davda shared that Shivashrit Foods has been steadily improving margins due to better raw material procurement strategies. While the valuation looks fully priced, the company may benefit from being among the first movers in the potato flakes segment in India.
Personally, I feel that while this IPO may not be undervalued, it offers a unique niche in food processing that could attract long-term investors. The global export angle adds a layer of growth potential. Still, cautious investors might want to wait and watch GMP trends before making a big bet.
FAQs
Q1. What is the price band of Shivashrit Foods IPO?
The IPO price band is set at ₹135 to ₹142 per share.
Q2. When will the Shivashrit Foods IPO open and close?
The IPO opens on August 22, 2025 and closes on August 26, 2025.
Q3. What is the lot size for Shivashrit Foods IPO?
Investors can apply for a minimum of 2,000 shares (2 lots) costing ₹2,84,000.
Q4. Where will the IPO be listed?
The IPO will be listed on the NSE SME platform.
Q5. Is Shivashrit Foods IPO a good investment?
The IPO looks fully priced but has good growth prospects in niche food processing. It may suit medium to long-term investors.
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