DSM Fresh Food to Launch IPO on September 26; Price Band at Rs. 96–101 per Share
Bengaluru, September 22, 2025: DSM Fresh Food Limited, the company behind the well-known brand Zappfresh, is set to open its Initial Public Offering (IPO) on Friday, September 26, 2025, with a price band of Rs. 96 to Rs. 101 per equity share (face value Rs. 10). The public subscription will close on Tuesday, September 30, 2025, while the Anchor Investor portion will be open on Thursday, September 25, 2025.
The IPO comprises up to 59,06,400 equity shares, of which 3,31,200 shares are reserved for Market Makers. The net issue of 55,75,200 shares is expected to raise approximately Rs. 56.3 crore.
Founded in 2015, Zappfresh is one of India’s leading omnichannel retailers of fresh meat and ready-to-cook/eat products, including chicken, mutton, and seafood. The company follows an integrated supply chain model, covering sourcing, processing, cold storage, and distribution, ensuring high-quality, hygienic, and fresh products for both retail consumers and HoReCa (hotel, restaurant, catering) partners.
The IPO will be conducted through the Book Building Process in line with SEBI regulations. The allocation is structured to include:
Qualified Institutional Buyers (QIBs): Up to 50% of the net issue, with a portion reserved for Anchor Investors.
Retail Individual Investors: At least 35% of the net issue.
Non-Institutional Investors: Minimum 15% allocation.
Employees: Eligible employees can apply under the Employee Reservation Portion.
Investors, except Anchor Investors, are required to apply through the ASBA (Application Supported by Blocked Amount) process or via the UPI mechanism.
The funds raised through the IPO are intended to support strategic growth initiatives, including:
Working capital: Rs. 25 crore
Marketing: Rs. 15 crore
Capital expenditure: Rs. 11 crore
Inorganic growth through acquisitions and other strategic initiatives: Rs. 3 crore
General corporate purposes
Narnolia Financial Services Limited is acting as the Book Running Lead Manager (BRLM) for the issue. The company plans to list its shares on the SME platform of BSE (BSESME).
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