SME IPO: Srivari Spices issue to open on Monday. 10 things to know about the offer

economictimes.indiatimes.com:

Srivari Spices and Foods will open for public subscription on August 7. The issue closes on August 9.

Here are 10 things to know about the offer.1) Company OverviewThe company is engaged in the business of manufacturing of spices and flour (chakki atta). It also market and sell it in and around Telangana and Andhra Pradesh2) Industry OverviewThe production of different spices has been growing rapidly over the last few years.

Production in FY21, FY22 and FY23 was 11.04, 10.88 and 11.14 million tonnes, respectively.3) Issue sizeThe IPO is entirely a fresh equity issue of up to 21.42 lakh equity shares aggregating up to Rs 9 crore.4) Price bandThe company will offer its shares at a price band of Rs 40-42 apiece, and investors can bid for 3,000 shares in 1 lot.5) Financial performanceFor the year ending March 2023, the company has recorded revenues of Rs 35.81 crore and net profit of Rs 3.12 crore.6) Objects of the offerThe net proceeds from the public offer will be used for funding working capital requirements and other general corporate purposes.7) Booking running lead managersGYR Capital Advisors is acting as the lead manager to the issue, while Bigshare Services is the registrar.8) Issue structureAbout 50% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.9) Important datesThe IPO opens on August 7 and closes on August 9. The final allotment will likely be made on August 14.