DSM Fresh Foods IPO
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
DSM Fresh Foods IPO Timeline
DSM Fresh Foods IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 26-Sept-25 | 0.44 | 0.21 | 0.01 | 0.05 |
| 29-Sept-25 | 0.44 | 0.22 | 0.14 | 0.24 |
| 30-Sept-25 | 1.00 | 0.33 | 0.27 | 0.49 |
| 01-Oct-25 | 1.00 | 0.78 | 0.29 | 0.60 |
| 03-Oct-25 | 1.45 | 1.25 | 0.51 | 0.94 |
| 06-Oct-25 | 1.53 | 2.06 | 0.96 | 1.36 |
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 |
| 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
DSM Fresh Foods Contact Details
115-116, First Floor
Vishal Tower, District Centre
Janakpuri, Janakpuri B-1,
West Delhi, New Delhi, 110058
Phone: + 91 70422 88558
Email: compliance@zappfresh.com
Website: https://www.zappfresh.com/
DSM Fresh Foods IPO Register
Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
DSM Fresh Foods IPO Lead Manager
Narnolia Financial Services Ltd.