The Srivari Spices IPO started on August 7, 2023, and ended on August 9, 2023. Shares were allocated on August 14, 2023, and refund processes began on August 16, 2023. On August 17, 2023, the shares were credited to investors demat accounts. Srivari Spices was officially listed on the stock exchange on August 18, 2023.
During the IPO, Srivari Spices offered shares at a price range of ₹40 to ₹42 per share, and the lot size was 3000 shares. The total issue size was ₹9.00 crores, with ₹9.00 crores from new shares and ₹000 crores from shares for sale. The IPO was listed on the NSE SME.
Regarding share reservations, 50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors, 15% were reserved for Employee.
Srivari Spices and Foods IPO Subscription Update Video
Srivari Spices IPO Subscription Status
The Srivari Spices IPO on August 9, 2023 was subscribed 450.03 times, with the retail category being subscribed 517.95 times, the NII (Non-Institutional Investor) category being subscribed 786.11 times, the QIB (Qualified-Institutional Buyers) category being subscribed 79.10 times.
| Category | Subscription |
| QIB | 79.10x |
| NII | 786.11x |
| Retail | 517.95x |
| Total | 450.03x |
Srivari Spices IPO Basic Details
| Company Name | Srivari Spices and Foods Limited |
| Domain of Company | Spice and Flour (chakki atta) Manufacturing |
| IPO Open Date | August 7, 2023 |
| IPO Close Date | August 9, 2023 |
| IPO Allotment Date | August 14, 2023 |
| IPO Listing Date | August 18, 2023 |
| Face Value | ₹10 per share |
| Price | ₹40 to ₹42 per share |
| Lot Size | 3000 Shares |
| Issue Size | 2,142,000 shares (aggregating up to ₹9.00 Cr) |
| Fresh Issue | 2,142,000 shares (aggregating up to ₹9.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Company Promoters | Rathi Narayan Das And Neihaa Rathi |
About Srivari Spices and Foods Limited
Founded in 2019, Srivari Spices and Foods Limited is a company dedicated to the production of spices and flour (chakki atta). Additionally, the company handles the marketing and distribution of its offerings. Its main operational focus lies in the regions of Telangana and Andhra Pradesh.
Srivari Spices and Foods offers a range of products categorized into Spices, Masala, and Atta, encompassing a diverse array of spice items. These products are distributed to a network of over 3000 retail outlets for spices, and to more than 15000 outlets for whole wheat and sharbati atta across Telangana and Andhra Pradesh.
The company sources its raw materials from various parts of the country, processing them meticulously to craft the final organic products. Notably, the entire production process is conducted with great care and devoid of artificial preservatives or chemicals, ensuring the organic spices and flour retain the inherent freshness and nutritional qualities of their ingredients.
Srivari Spices and Foods employs two primary business models for product sales:
- Direct-to-Customer (D2C)
- Business-to-Business (B2B)
In the year 2021, Business Mint recognized Srivari Spices as the “Best Emerging Spices Brand,” solidifying its reputation in the industry. The company operates from two manufacturing facilities. The initial production unit, established in 2019 in Jalpally Village of Ranga Reddy District, Telangana, served as the starting point for its primary operations. Subsequently, the second facility was set up in 2021 in Raikal Village, Farooqnagar Mandal, also located in Ranga Reddy District, Telangana.
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Srivari Spices IPO FAQs
What is the start and end date of Srivari Spices IPO Subscription?
The Srivari Spices IPO started on August 7, 2023, and ended on August 9, 2023.
When does Srivari Spices IPO Subscription open?
The Srivari Spices IPO open on August 7, 2023.
When does Srivari Spices IPO Subscription close?
The Srivari Spices IPO Close on August 9, 2023.
What is the allotment date of Srivari Spices IPO?
The allotment date for Srivari Spices IPO is August 14, 2023.
When is the initial refund date of Srivari Spices IPO?
The initial Refund date for Srivari Spices IPO is August 16, 2023.
When were the shares credited to investors demat accounts for the Srivari Spices IPO?
The shares for the Srivari Spices IPO were credited to investors demat accounts on August 17, 2023.
When will Srivari Spices IPO be listed on the stock market?
Srivari Spices IPO stock market will be listed on August 18, 2023 at 10 am.
What was the price range of the Srivari Spices IPO shares?
The Srivari Spices IPO shares were offered at a price range of ₹40 to ₹42 per share.
What was the lot size for the Srivari Spices IPO shares?
The lot size for the Srivari Spices IPO shares was 3000 shares.
What was the total issue size of the Srivari Spices IPO?
The total issue size of the Srivari Spices IPO was ₹9.00 crores.
How were the shares allocated among different types of investors for the Srivari Spices IPO?
50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
On which stock exchanges was the Srivari Spices IPO listed?
The Srivari Spices IPO was listed on the NSE SME.
What is the Srivari Spices IPO Subscription Status?
Srivari Spices IPO is subscribed 450.03 Times.
