DSM Fresh Foods

DSM Fresh Foods IPO

  • Status: Closed
  • RHP:
  • ₹ 228,000 / 2400 shares

    Minimum Investment

DSM Fresh Foods IPO Details

  • Open Date

    26 Sep 2025

  • Close Date

    06 Oct 2025

  • Listing Date

    09 Oct 2025

  • IPO Price Range

    ₹ 95 to ₹100

  • IPO Size

    ₹ 59.65 Cr

  • Listing Exchange

    BSE SME

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DSM Fresh Foods IPO Subscription Status

Last Updated: 06 October 2025 6:51 PM by 5paisa

DSM Fresh Foods Ltd. operates under the brand Zappfresh, specialising in fresh meat, seafood, and ready-to-cook/eat non-vegetarian products. The company follows a farm-to-fork model, ensuring high quality and hygienic supply through online platforms.

Products:

1. Fresh Meats: Chicken, mutton, pork, seafood, speciality meats
2. Ready-to-Cook/Eat Items: Mutton Seekh Kebab, Chicken Cheese Nuggets, Masala Fish Fingers
3. Cold Cuts: Chicken Salami, Chicken Ham, Sausages
4. Marinated Meats: Chicken Methi Tikka, Masala Wings, Chicken Tikka

Established in: 2015
MD: Deepanshu Manchanda

Peers:

1. HMA Agro Industries Ltd
2. Tasty Bite Eatables Ltd
3. Chatha Foods Ltd

DSM Fresh Foods Objectives

The company intends to utilise the IPO proceeds for:

1. Capital Expenditure Requirement – ₹10.68 Cr
2. Marketing Expenditure – ₹15.00 Cr
3. Working Capital Requirement – ₹25.00 Cr
4. Unidentified acquisition and general corporate purposes

DSM Fresh Foods IPO Size

Types Size
Total IPO Size ₹59.65 cr
Offer For Sale -
Fresh Issue ₹59.65 cr

 

DSM Fresh Foods IPO Lot Size

Application Lots Shares Amount
Retail (Min) 2 2,400 ₹2,30,400
Retail (Max) 2 2,400 ₹2,42,400

DSM Fresh Foods IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)*
QIB 1.53 11,16,000 17,05,200 17.052
NII (HNI) 2.06 8,38,800 17,28,000 17.280
Retail Investors 0.96 19,53,600 18,79,200 18.792
Total** 1.36 39,08,400 53,12,400 53.124

 

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

DSM Fresh Foods IPO Anchor Investors Details

Bid Date 25 September, 2025
Shares Offered 16,66,800
Anchor portion Size (In ₹ Cr.) 16.83
Anchor lock-in period end date for 50% shares (30 Days) 31 October, 2025
Anchor lock-in period end date for remaining shares (90 Days) 30 December, 2025

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY24 FY25
Revenue 56.28 90.44 130.73
EBITDA 3.41 9.58 17.05
PAT 2.74 4.67 9.05
Particulars (in Rs. Crores) FY23 FY24 FY25
Total Assets 22.01 50.00 84.04
Share Capital 0.09 0.09 16.38
Total Borrowing 2.07 7.65 31.70
Particulars (in Rs. Crores) FY23 FY24 FY25
Net Cash Generated From / (used in) operating activities -2.42 -13.04 -16.68
Net Cash Generated From / (used in) investing activities -0.10 -4.91 -9.59
Net Cash Generated From / (used in) financing activities 3.10 22.02 22.83
Net Increase (Decrease) In Cash And Cash Equivalents -0.33 4.07 -3.43


Strengths

1. Experienced and qualified management team
2. Farm-to-fork supply chain ensures freshness
3. Well-established brand in online meat retail
4. Hygienic and humanely maintained processing facilities

Weaknesses

1. Limited geographic reach beyond current markets
2. Dependence on online sales and app adoption
3. High operating costs due to cold chain logistics
4. A small workforce relative to peers may constrain growth

Opportunities

1. Rising demand for online fresh food delivery
2. Expansion into ready-to-cook and frozen product segments
3. Partnerships with restaurants and food delivery platforms
4. Adoption of advanced cold storage and processing technologies

Threats

1. Volatility in meat and poultry prices
2. Intense competition from domestic and international players
3. Regulatory changes in food safety and hygiene standards
4. Supply chain disruptions due to logistics or climatic factors

1. Strong Market Presence – Established brand in the fresh and packaged food sector with growing consumer trust.
2. Expanding Distribution Network – Widespread retail and wholesale channels ensuring consistent market reach.
3. Rising Demand – Increasing preference for hygienic, ready-to-cook, and fresh food products in urban and semi-urban areas.
4. Growth Potential – Positioned to benefit from India’s expanding food processing industry and rising disposable incomes.
5. Focused Strategy – Emphasis on quality, innovation, and scaling operations for sustainable long-term growth.

DSM Fresh Foods operates in the rapidly growing online fresh food and ready-to-cook meat segment. Rising consumer preference for hygienic, convenient, and home-delivered fresh meat products provides significant growth opportunities. With an established digital presence, strong supply chain, and farm-to-fork business model, the company is well-placed to benefit from increasing adoption of e-grocery platforms. Expansion into new product categories and adoption of modern processing technologies could strengthen its market position. The industry outlook remains robust due to urbanisation, digital penetration, and growing demand for high-quality protein sources.

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FAQs

DSM Fresh Foods Ltd IPO subscription windows are from September 26, 2025, to October 06, 2025

DSM Fresh Foods Ltd has the issue size of ₹59.65 Cr through a fresh issue

DSM Fresh Foods Ltd has a price band of ₹95 to ₹100 per share

DSM Fresh Foods Ltd required a minimum of 2 lots (2,400 shares), with sums of ₹2,30,400

DSM Fresh Foods Ltd IPO has the allotment date of October 7, 2025

DSM Fresh Foods Ltd IPO is expected to be listed on October 9, 2025, on BSE SME

Narnolia Financial Services Ltd. is the lead manager for DSM Fresh Foods Ltd IPO.

DSM Fresh Foods Ltd shall utilise its IPO proceeds for;

1. Capital Expenditure Requirement – ₹10.68 Cr
2. Marketing Expenditure – ₹15.00 Cr
3. Working Capital Requirement – ₹25.00 Cr
4. Unidentified acquisition and general corporate purposes