Shivashrit Foods IPO

About Shivashrit Foods IPO

The IPO of Shivashrit Foods Ltd comprises a fresh issue of up to 43,16,000 equity shares, aggregating up to ₹57.77 crores. It also has an offer for sale of up to 6,16,000 equity shares, aggregating up to ₹66.51 crores. It’s a 100% book building offer. The price band is between ₹135 and ₹142 and the lot size is 1,000 shares. The IPO opens on August 22, 2025 and closes on August 26, 2025.

The listing date is on or about September 1, 2025 and the allotment date is on or about August 28, 2025. The credit of shares to the Demat account will take place on or about August 29, 2025, while the initiation of refund will take place on or about August 29, 2025.

Shivashrit Foods Ltd is the manufacturer, supplier and exporter of potato flakes. It has a dedicated potato processing and manufacturing facility at Aligarh in Western Uttar Pradesh, India for production of potato flakes. The company specialises in manufacturing of premium-grade potato flakes, used in ready-to-eat meals, snack foods, and processed food products.

Objectives of Shivashrit Foods IPO

The company proposes to utilise the IPO proceeds for:

• Part financing the capital expenditure to be incurred towards Construction of the Building, Plant & Machinery (Potato Flakes Line Machine), Utilities (Boiler, ETP Plant, Power Generator, Solar Panel), other miscellaneous assets, etc
• Part financing the working capital requirement for expansion project
• General corporate purposes

Industry Outlook

India is one of the largest populated countries in the world and is expected to continue having one of the youngest populations in the world till 2030. The growing consumption of food is expected to reach US$ 1.2 trillion by 2025-26, owing to urbanisation and changing consumption patterns. The processed fruits and vegetables industry was valued at US$ 15.4 billion in 2019.

With heightened consumer awareness during lockdowns, there's increased demand for processed foods, especially in RTE/RTC, dairy, and fruit and vegetable segments. The market size of the food processing sector in India is estimated to reach US$ 1,274 billion in 2027 from US$ 866 billion in 2022, backed by the rise in population, changing lifestyle and food habits due to rising disposable income and urbanisation.

According to the Viksit Bharat@2047 report, India's food processing sector will grow significantly, reaching US$ 1,100 billion by FY35, US$ 1,500 billion by FY40, US$ 1,900 billion by FY45, and US$ 2,150 billion by FY47.

Production of potatoes is projected at 59.57 million tonnes in 2024-25 which is almost 4.4 per cent more than the same period last year. In what could be of some comfort to the government in its fight against inflation, production of three major vegetables namely tomato, onions and potatoes that comprise the trinity of TOP is expected to be higher in 2024-25 season as compared to the previous year.

Company Information

Shivashrit Foods Ltd is the manufacturer, supplier and exporter of potato flakes. The company has a dedicated potato processing and manufacturing facility at Aligarh in Western Uttar Pradesh, India for production of potato flakes.

It specialises in manufacturing of premium-grade potato flakes, used in ready-to-eat meals, snack foods, and processed food products. Its product portfolio is designed to cater to the specific requirements of both global and domestic food manufacturers, offering consistency in quality and a long shelf life.

Strengths of Shivashrit Foods IPO

• Experienced promoter and management team
• Support of efficient supply-chain enables it to have long-standing and deep customer relationships
• Strategic location of Manufacturing facility
• Strategic location for potato procurement process and storage

Risks of Shivashrit Foods IPO

• Significant portion of revenues comes from domestic sales, exposing it to risks to Indian geographies
• Inability to acquire new customers may affect business performance
• Reliance on limited number of suppliers for raw materials with no long-term supply arrangement
• Increase in cost of raw materials may adversely affect pricing
• Total reliance on potato flakes for revenues

Peer Comparison

There are no listed companies in India that are engaged in a business similar to that of Shivashrit Foods Ltd. Accordingly, it is not possible to provide an industry comparison in relation to the company.

Anchor Investor Bidding Date

The anchor portion of the IPO opens for bidding on August 21, 2025.

IPO Registrar and Book Running Lead Manager

• IPO Registrar: Maashitla Securities Private Ltd
• Book Running Lead Manager: Mark Corporate Advisors Private Ltd

Business Model

Shivashrit Foods Ltd specialises in manufacturing of premium-grade potato flakes, used in ready-to-eat meals, snack foods, and processed food products. The company has been operating on a B2B business model since commencement of business, supplying products to industrial clients in the food and snacks industry, both domestically and internationally. In December 2024, the company entered into the B2C segment by launching its retail brand.

Company Growth Trajectory

The revenue from operations of Shivashrit Foods Ltd grew from ₹45.3510 crores in FY 23 to ₹104.6934 crores in FY 25. Its EBITDA margin grew from 10.91% in FY 23 to 22.06% in FY 25, while growth in revenue from operations increased from 18.27% in FY 23 to 37.36% in FY 25.

The company’s manufacturing unit commenced its operations in the year 2018 with an installed production capacity of 14.4 metric tons per day of potato flakes. In FY 2023-2024, it expanded its existing potato flake processing line to increase its installed production capacity to 28.8 metric tons per day. Support of an efficient supply chain coupled with the strategic location of the potato procurement process has helped the company grow over the years.

Market Position

Shivashrit Foods Ltd has a dedicated potato processing and manufacturing facility at Aligarh in Western Uttar Pradesh, India for production of potato flakes. The company’s processing facility has been duly certified in accordance with the Food Safety and Standards Authority of India (FSSAI), International Standards for Food Safety Management Systems – ISO 22000:2018, HALAL, Global Standard for Food Safety – BRCGS from Intertek Certification Limited (UKAS certified body) and United States Food and Drug Administration (USFDA).

How to Check Allotment Status of Shivashrit Foods IPO?

1. Visit the Registrar’s Website

• Go to the official website of Maashitla Securities Pvt Ltd
• Choose ‘Public’ Issues from ‘Allotment Status’
• Select Company Name and enter either your PAN No, Application No or Demat Account No
• Click on ‘Submit’ to know the status

2. Check on the National Stock Exchange Website

The National Stock Exchange (NSE) has an IPO bid verification module. You can use it to check the status of Shivashrit Foods Ltd. Go to NSE India Website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.

On the NSE IPO Bid Verification page, enter:

• Company name from dropdown
• Application number
• PAN

Then click 'Submit' to know the allotment status.

How to Apply for the Shivashrit Foods IPO?

• Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.