Fresh Investments: Zappfresh's IPO Set to Sizzle
DSM Fresh Food Ltd, known for its meat delivery startup Zappfresh, is launching an SME IPO with shares priced between Rs 96 to Rs 101. The offering aims to raise funds for capital and marketing expenses, with proceeds supporting further growth and strategic acquisitions. The IPO will run from September 26 to September 30.
- Country:
- India
DSM Fresh Food Ltd, the operator behind the meat delivery venture Zappfresh, has declared a price band of Rs 96 to Rs 101 per share for its upcoming SME initial public offering (IPO), which will open for subscriptions on September 26.
The IPO is slated to conclude on September 30, with bidding for the anchor portion commencing a day earlier. The initial public offer includes 59.06 lakh equity shares, potentially raising Rs 59.65 crore at the top end.
Expected proceeds are earmarked for various purposes: Rs 25 crore for working capital, Rs 15 crore for marketing expenses, Rs 11 crore for capital expenditures, and Rs 3 crore for acquisitions and strategic initiatives. As an omnichannel retailer, DSM Fresh Food has enhanced its portfolio through acquisitions, aiming to position Zappfresh alongside competitors like Licious and FreshToHome.
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