Srivari Spices & Foods Ltd IPO Timeline
Srivari Spices & Foods Ltd IPO opens on 07-Aug-2023, and closes on 09-Aug-2023. The Srivari Spices & Foods Ltd IPO bid date is from 07-Aug-2023 to 09-Aug-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
|Srivari Spices & Foods Ltd IPO Opening Date
|Srivari Spices & Foods Ltd IPO Closing Date
|Basis of Allotment
|Initiation of Refunds
|Credit of Shares to Demat
|Srivari Spices & Foods Ltd IPO Listing Date
Srivari Spices & Foods Ltd IPO Lot Size
Srivari Spices & Foods Ltd IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or 126000).
Srivari Spices & Foods Ltd IPO Details
|Srivari Spices & Foods Ltd IPO Date
|07-Aug-2023 to 09-Aug-2023
|Srivari Spices & Foods Ltd IPO Face Value
|Shares of ₹10 per share
|Srivari Spices & Foods Ltd IPO Price
|₹40 to ₹42 per share
|Srivari Spices & Foods Ltd IPO Lot Size
|Shares of ₹10 (aggregating up to ₹9 Cr)
|Shares of ₹10 (aggregating up to ₹8.57 Cr)
|Offer for Sale
|Book Building - SME
|NSE - SME
|QIB Shares Offered
|Retail Shares Offered
|NII (HNI) Shares Offered
|Rathi Narayan Das, Neihaa Rathi.
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Funding the working capital requirements of the company
- 2 General corporate purposes
Srivari Spices & Foods Ltd Financial Information (Restated)
|Profit After Tax
|Amount in ₹ Crore
- Scaled platform with strong track record of growth and market leadership.
- Experienced management team, backed by a strong board and marquee shareholders, along with strong culture of compliance.
- Deeply entrenched, long-standing client relationships with a diversified and expanding client base.
- The company is required to obtain licenses and approvals under several legislations. Its inability to obtain or renew such permits, approvals and licenses in the ordinary course of the company business may adversely affect its business, financial condition and results of operations.
- There have been instances of delays of certain forms which were required to be filed as per the reporting requirements under the Companies Act, 2013 to RoC. Further, there have also been instances where ther Company has inadvertently filed incorrect information with the RoC in its statutory filings.
- The company do not have long term agreements with suppliers for its raw materials and an increase in the cost of or a shortfall in the availability of such raw materials could have an adverse effect on the company business, results of operations and financial condition.
- The company depend on a few customers of the products, for a significant portion of its revenue, and any decrease in revenues or sales from any one of the key customers may adversely affect the company business and results of operations.
- The company conduct its business activities on a purchase order basis and therefore, have not entered into long-term agreements with the company customers.
- The improper handling, processing or storage of the raw materials or products, or spoilage of and damage to such raw materials and products, or any real or perceived contamination in its products, could subject it to regulatory action, damage the company reputation and have an adverse effect on its business, results of operations and financial condition.
- The company business is dependent on its processing units for few products. The loss of or shutdown of operations of the processing units may have a material adverse effect on its business, financial condition and results of operations.
- The company operations are considerably located in Telangana and Andhra Pradesh and failure to expand its operations may restrict our growth and adversely affect the company business.
- The Company has ventured into manufacturing and trading of spices in 2019 and of whole wheat flour in 2021, and therefore has a very limited operating history of its operations with respect to the same, which will make it difficult for the investors to evaluate the company historical performance or future prospects.
- The company continued operations are critical to its business and any shutdown of the manufacturing units may adversely affect the company business, results of operations and financial condition.
- Any failure in the company quality control processes may adversely affect its business, results of operations and financial condition. The company may face product liability claims and legal proceedings if the quality of its products does not meet the customers' expectations.
- Any adverse change in regulations governing the company products and the products of the customers, may adversely impact its business prospects and results of operations.
- The company inability to expand or effectively manage its sales and marketing network may have an adverse effect on the company business, results of operations and financial condition.
- Any delays and/or defaults in customer payments could result in increase of working capital investment and/or reduction of the Company's profits, thereby affecting its operation and financial condition.
- The Company requires significant amount of working capital for a continuing growth. Its inability to meet the company working capital requirements may adversely affect its results of operations.
- The company is dependent on information technology systems in carrying out the business activities and it forms an integral part of the company business. Further, if its are unable to adapt to technological changes and successfully implement new technologies or if the company face failure of the information technology systems, its may not be able to compete effectively which may result in higher costs and would adversely affect the company business and results of operations.
- The company may be unable to grow its business in additional geographic regions or international markets, which may adversely affect the company business prospects and results of operations.
- The company is dependent on third party transportation providers for delivery of raw materials to it from the suppliers and delivery of the company products to the customers. The company has not entered into any formal contracts with the transport providers and any failure on part of such service providers to meet their obligations could adversely affect its business, financial condition and results of operation.
- The Company has experienced negative cash flow in the past and may continue to do so in the future, which could have a material adverse effect on its business, prospects, financial condition, cash flows and results of operations.
- The Company has availed certain unsecured loans which may be recalled at any time.
- The company inability to manage inventory in an effective manner could affect its business.
- If the Company is unable to protect its intellectual property, or if the Company infringes on the intellectual property rights of others, the company business may be adversely affected. In the event, any actions of the Company qualifies as a breach of any of the clauses of this deed, it could have a material impact on its goodwill, business operations, financial condition and results of operations.
- The company has significant power requirements for continuous running of the manufacturing units. Any disruption to its operations on account of interruption in power supply or any irregular or significant hike in power tariffs may have an effect on the company business, results of operations and financial condition.
- The company operate in a competitive business environment and its inability to compete effectively may adversely affect the company business, results of operations, financial condition and cash flows.
- The company Promoters, Directors and Key Managerial Personnel have interests in the Company other than reimbursement of expenses incurred or normal remuneration or benefits.
- The company Promoters and members of the Promoter Group have significant control over the Company and have the ability to direct its business and affairs; their interests may conflict with your interests as a shareholder.
- The average cost of acquisition of Equity Shares held by its Promoters could be lower than the Issue Price.
- The company future fund requirements, in the form of further issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
- The company has in past entered into related party transactions and its may continue to do so in the future.
- The company Promoter has extended personal guarantees with respect to various loan facilities availed by the Company. Revocation of any or all of these personal guarantees may adversely affect its business operations and financial condition.
- The company agreements with lenders for financial arrangements contain restrictive covenants for certain activities and if its are unable to get their approval, it might restrict the company scope of activities and impede its growth plans.
- Stringent food safety, consumer goods, health and safety laws and regulations may result in increased liabilities and increased capital expenditures.
- In addition to the company existing indebtedness for the existing operations, the company may incur further indebtedness during the course of business. The company cannot assure that we would be able to service its existing and/ or additional indebtedness.
- The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further, the company has not identified any alternate source of financing the 'Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
- The company success largely depends upon the knowledge and experience of the Promoters, Directors, and the Key Managerial Personnel. Loss of any of the Directors and key managerial personnel or the company ability to attract and retain them could adversely affect its business, operations and financial condition.
- The company Registered Office, the Corporate Office and one of the manufacturing units are located on premises which is not owned by it and has been obtained on lease basis. Disruption of its rights as licensee/ lessee or termination of the agreements with the company licensors/ lessors would adversely impact its manufacturing operations and, consequently, the company business, financial condition and results of operations.
- Any defect in title/ ownership of owner (s) (including the Promoters/ Promoter Group), from whom the Company has bought space/ taken space on lease, may adversely affect the operations of the Company resulting in loss of business.
- Land on which the company Registered Office, the Corporate Office and one of the manufacturing units is located are not owned by it. In the event, Its are unable to renew the rent/leave and license agreements, or if such agreements are terminated, the company may suffer a disruption in its operations.
- If The company is unable to maintain and enhance its brand and reputation, the sales of the products may suffer which would have a material adverse effect on the company business operations.
- Relevant copies of educational qualifications of the Promoters, Directors and Senior Management are not traceable.
- Information relating to the historical capacity of the production facilities included in this Draft Red Herring Prospectus is based on various assumptions and estimates and future production and capacity may vary.
- The requirement of funds in relation to the objects of the Issue has not been appraised.
- The company funding requirements and proposed deployment of the Net Proceeds are based on management estimates and have not been independently appraised, and may be subject to change based on various factors, some of which are beyond its control.
- The company inability to procure and/or maintain adequate insurance cover in connection with its business may adversely affect the company operations and profitability.
- The company ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
- Increased losses due to fraud, employee negligence, theft or similar incidents may have an adverse impact on it.
- The deployment of funds is entirely at the company discretion and as per the details mentioned in the chapter titled "Objects of the Issue".
- The company has not independently verified certain data in this Draft Red Herring Prospectus.
- The requirements of being a listed company may strain its resources.
- The Equity Shares have never been publicly traded and the Issue may not result in an active or liquid market for the Equity Shares.
- There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of National Stock Exchange of India Limited in a timely manner or at all.
- There is no existing market for the company Equity Shares, and its do not know if one will develop to provide you with adequate liquidity. Further, an active trading market for the Equity Shares may not develop and the price of the Equity Shares may be volatile.
- The price of the Equity Shares may be highly volatile after the Issue.
- You will not be able to sell immediately on the Stock Exchanges any of the Equity Shares you purchase in the Issue.
- There are restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
- The price of the Equity Shares may be volatile, which could result in substantial losses for investors acquiring the Equity Shares in the Issue.
- Any future issuance of Equity Shares, or convertible securities or other equity-linked securities by the Company may dilute your shareholding and any sale of Equity Shares by the Promoters or members of the Promoter Group may adversely affect the trading price of the Equity Shares.
- Sale of Equity Shares by the company Promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- Improving operational efficiencies
- Leveraging its Market skills and Relationships
- Enhance customer base by entering new geographies to establish long-term relationships
- Value proposition for consumers
- Strengthening its brand
- Penetration into global markets
- Improving Efficiency
Srivari Spices & Foods Ltd IPO Promoter Holding
|Pre Issue Share Holding
|Post Issue Share Holding
Srivari Spices & Foods Ltd IPO Subscription Status (Bidding Detail)
The Srivari Spices & Foods Ltd IPO is subscribed - times on Aug 09, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
Srivari Spices & Foods Ltd IPO Prospectus
Srivari Spices & Foods Ltd IPO Listing Date
|18 Aug 23
|NSE - SME
Srivari Spices & Foods Ltd IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91 22 6263 8200
Srivari Spices & Foods Ltd IPO Lead Manager(s)
- GYR Capital Advisors Pvt Ltd
FAQs on Srivari Spices & Foods Ltd IPO
Srivari Spices & Foods Ltd IPO, which opens for subscription from 07-Aug-2023 to 09-Aug-2023 has an issue size of ₹9 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Srivari Spices & Foods Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Srivari Spices & Foods Ltd IPO Opens for subscription from 07-Aug-2023 to 09-Aug-2023.
The lot size of Srivari Spices & Foods Ltd is 3000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹126000 and ₹126000 respectively.
Allotment date for Srivari Spices & Foods Ltd is 14-Aug-2023 and refund of application amount (in case allotment is not received) will begin from 16-Aug-2023. If your allotment goes through, then shares will be credited in your Demat account by 17-Aug-2023.
The registrar for Srivari Spices & Foods Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.
The shares of Srivari Spices & Foods Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).