Shivashrit Foods
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 22 Aug 2025 – 26 Aug 2025
- Listing date
- 01 Sep 2025
- Face value
- ₹10 per share
- Issue price
- ₹142 per share
- Lot size
- 1,000 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹70.03 Cr
- Market cap at offer price
- ₹259 Cr
- Promoter holding
- 100.00% → 73.01% pre-issue → post-issue
- ISIN
- INE1DLF01018
- Registrar
- Maashitla Securities Pvt.Ltd.
- Lead managers
- Mark Corporate Advisors Pvt.Ltd.
- Registered office
- Gopal Ganj, Sarai Lavaria, Uttar Pradesh
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 14,03,000 | — | — |
| Market maker | 2,48,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹142
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,42,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,84,000 |
| S-HNI (max) | 7 | 7,000 | ₹9,94,000 |
| B-HNI (min) | 8 | 8,000 | ₹11,36,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 8.64 | 6.60 |
| P/E (×) | 16.44 | 21.52 |
| Price to book (×) | 1.91 | — |
| Market cap | — | ₹259 Cr |
Key performance indicators
- Return on net worth
- 34.85%
- ROCE
- 42.73%
- Debt / equity
- 1.39
- PAT margin
- 11.51%
- EBITDA margin
- 22.06%
- NAV per share
- ₹74.38
- Price to book
- 1.91
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Shivashrit Foods
Shivashrit Foods Limited is an Indian manufacturer and exporter of potato flakes incorporated in 2017 and converted to a public company in 2024. The company operates a dedicated potato processing facility in Aligarh, Uttar Pradesh, where it produces dehydrated potato flakes from raw potatoes sourced primarily from Uttar Pradesh, Punjab, and Gujarat during the peak procurement season (December-March). The company specializes in high-quality, dehydrated potato flakes used as versatile ingredients in ready-to-eat meals, instant mashed potatoes, soups, gravies, snacks, bakery, baby food, and meat processing products. With an installed capacity of 28.8 metric tons per day (expanded in FY 2023-24), SFL operates both a B2B segment (industrial clients under brand names Shivashrit and Flaker's) and entered the B2C retail segment in December 2024 with the brand Shivashrit Aashirvad targeting urban consumers in Delhi NCR and metropolitan cities.
Company Analysis
from DRHPShivashrit Foods Limited manufactures and exports premium-grade potato flakes for B2B food processing customers across ready-to-eat meals, snack foods, and processed food products sectors.
Shivashrit Foods Limited is an Indian manufacturer and exporter of potato flakes incorporated in 2017 and converted to a public company in 2024. The company operates a dedicated potato processing facility in Aligarh, Uttar Pradesh, where it produces dehydrated potato flakes from raw potatoes sourced primarily from Uttar Pradesh, Punjab, and Gujarat during the peak procurement season (December-March). The company specializes in high-quality, dehydrated potato flakes used as versatile ingredients in ready-to-eat meals, instant mashed potatoes, soups, gravies, snacks, bakery, baby food, and meat processing products. With an installed capacity of 28.8 metric tons per day (expanded in FY 2023-24), SFL operates both a B2B segment (industrial clients under brand names Shivashrit and Flaker's) and entered the B2C retail segment in December 2024 with the brand Shivashrit Aashirvad targeting urban consumers in Delhi NCR and metropolitan cities.
Objects of the Issue
- Capital Expenditure for Expansion Project - Construction of Building, Plant & Machinery (Potato Flakes Line Machine 2200 kg/h), Utilities (Boiler, ETP Plant, Power Generator, Solar Panel), other miscellaneous assets 2,630.00 lakhs p.85
- Working Capital Requirement for Expansion Project 1,900.00 lakhs p.85
- General Corporate Purposes p.85
Issue Structure
- Total Issue
- Up to 49,32,000 Equity Shares aggregating up to ₹[●] Lakhs
- Fresh Issue
- Up to 43,16,000 Equity Shares aggregating up to ₹[●] Lakhs
- Offer for Sale
- Up to 6,16,000 Equity Shares aggregating up to ₹[●] Lakhs
- Price Band
- ₹[●] per Equity Share (to be determined through book building process)
- Lot Size
- [●] Equity Shares as minimum bid lot (to be announced)
- Face Value
- ₹10 per Equity Share
Business Model
B2B industrial supply of dehydrated potato flakes to food manufacturers domestically and for export; B2C retail sales of potato-based convenience products through e-commerce and retail channels; revenue generation through bulk and retail packaging formats.
Business Segments
SWOT Analysis
- • Strong financial performance with healthy margins(p.133)
- • Certified manufacturing facility meeting international standards(p.132)
- • Strategic geographic location and raw material access(p.132)
- • Significant expansion of production capacity(p.132)
- • Diversified revenue streams with B2B and B2C operations(p.134)
- • Strong revenue growth trajectory(p.133)
- • High return on capital employed(p.109)
- • Heavy dependence on limited number of suppliers(p.29)
- • High concentration of customer base(p.27)
- • Seasonal procurement patterns creating inventory challenges(p.102)
- • Reported negative operating cash flow in FY 2023(p.31)
- • Inadequate insurance coverage(p.30)
- • Compliance issues and filing delays with RoC(p.31)
- • No long-term agreements with major customers(p.29)
- • Significant debt obligations and restrictive loan covenants(p.35)
- • Growing domestic potato flakes market(p.118)
- • Expansion into B2C market with strong potential(p.133)
- • Government support and incentives for food processing(p.122)
- • Planned expansion with new manufacturing facility(p.87)
- • Growing demand across multiple applications(p.126)
- • Export market opportunities(p.129)
- • Increasing production capacity utilization(p.132)
- • Dependency on domestic market with 80% of revenue from domestic sales(p.27)
- • Volatility in raw material prices and availability(p.29)
- • Inadequate storage and handling of perishable raw materials(p.29)
- • Risk of manufacturing facility shutdown(p.30)
- • Stringent regulatory compliance requirements(p.41)
- • Delay in obtaining necessary regulatory approvals for expansion(p.37)
- • Potential machinery breakdown and unforeseen events(p.30)
- • Rising electricity and fuel costs(p.32)
- • Import restrictions and geopolitical tensions affecting export machinery(p.20)
- • Global economic slowdown and reduced demand(p.44)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Nishant Singhal | Promoter | 20.17% | — |
| Prashant Singhal | Promoter | 24.04% | — |
| Ramesh Chand Singhal | Promoter | 25.42% | — |
| Sunita Singhal | Promoter | 25.22% | — |
| Raj Kumar Jain | Promoter Group | 2.15% | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.