PHOTOS BY P.K.ANANTH KUMAR
BENGALURU, Sept 22: DSM Fresh Food Limited, operating under the brand name Zappfresh, is all set to launch its Initial Public Offering (IPO) on September 26, with a price band of Rs 96 to Rs 101 per equity share of face value Rs. 10 each.
Ahead of the listing, company management discussed the rationale behind the pricing, its competitive advantages, and growth strategies in an interaction with the media.
The IPO comprises up to 59,06,400 equity shares, of which 3,31,200 shares will be reserved for market makers. The net issue of 55,75,200 shares, aggregating up to Rs. 56.31 crore, will be offered to investors through the book-building process.
The net proceeds from the Issue are proposed to be utilized towards funding the Company’s strategic growth initiatives, including working capital requirements of ₹ 25 crore, marketing expenditure of ₹15 crore, capital expenditure requirements of ₹11 crore and, and ₹3 crore towards inorganic growth opportunities through acquisitions and other strategic initiatives, as well as for general corporate purposes.
The IPO is scheduled to close on September 30, and bidding for the anchor portion will open on September 25, the company said in a statement.
Narnolia Financial Services Limited is the Book Running Lead Manager (“BRLM”) to the Offer.
The Equity Shares of DSM Fresh Food Limited are proposed to be listed on SME platform of BSE (BSESME)
