DSM Fresh Foods IPO Details
| IPO Open Date | September 26, 2025 |
| IPO Close Date | October 6, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹96 to ₹101 Per Share |
| Issue Size | Approx ₹59.65 Crores |
| Fresh Issue | Approx ₹59.65 Crores |
| Issue Type | Book Built Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
DSM Fresh Foods IPO Review & Key Points
- Review:
DSM Fresh Foods IPO Market Lot
The DSM Fresh Foods IPO minimum market lot is 2,400 shares with ₹2,42,400 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,400 | ₹2,42,400 |
| Retail Maximum | 2 | 2,400 | ₹2,42,400 |
| S-HNI Minimum | 3 | 3,600 | ₹3,63,600 |
| S-HNI Maximum | 8 | 9,600 | ₹9,69,600 |
| B-HNI Minimum | 9 | 10,800 | ₹10,90,800 |
IPO Reservation
| Investor Category | Share Offered | % Shares |
| Market Maker Shares Offered | 3,31,200 Shares | 5.61% |
| QIB Shares Offered | 27,82,800 Shares | 47.11% |
| Anchor Investor | 16,66,800 Shares | 28.22% |
| QIB (Ex. Anchor) | 11,16,000 Shares | 18.89% |
| NII Shares Offered | 8,38,800 Shares | 14.20% |
| bNII > ₹10L | 5,61,600 Shares | 9.51% |
| sNII < ₹10L | 2,77,200 Shares | 4.69% |
| Retail Shares Offered | 19,53,600 Shares | 33.08% |
DSM Fresh Foods IPO Anchor Investors
| Anchor Bidding Date | September 25, 2025 |
| Anchor Investors List | |
| Shares Offered | 16,66,800 Shares |
| Anchor Size | 16.83 Cr. |
| lock-in period end date 50% shares (30 Days) | November 6, 2025 |
| lock-in period end date 50% shares (90 Days) | January 5, 2025 |
DSM Fresh Foods IPO Dates
The DSM Fresh Foods IPO date is September 26 and the close date is October 6. The DSM Fresh Foods IPO allotment will be finalized on October 7 and the IPO listing on October 9.
| IPO Open Date: | September 26, 2025 |
| IPO Close Date: | October 6, 2025 |
| Basis of Allotment: | October 7, 2025 |
| Refunds: | October 8, 2025 |
| Credit to Demat Account: | October 8, 2025 |
| IPO Listing Date: | October 9, 2025 |
| IPO Bidding Cut-off Time: | October 6, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Mr. Deepanshu Manchanda.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,63,80,738 | 37.64% |
| Promoter Holding Post Issue | 2,22,87,138 | 27.66% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Capital Expenditure Requirement | 10.68 |
| Marketing Expenditure | 15.00 |
| Working Capital Requirement | 25.00 |
| Unidentified Acquistion and General Corporate Purposes^ | – |
About DSM Fresh Foods IPO
DSM Fresh Foods was founded in 2015 with the goal of offering fresh meat and ready-to-cook or ready-to-eat non-vegetarian products. They think products should be fresh, easy, and convenient. Further, the company focuses on fast and timely delivery along with tracking facilities to make the client’s experience beyond their expectation.
The company has Deepanshu Manchanda as a promoter, managing director, and chairman of the company, along with 15 years of experience in building and growing companies successfully from the ground up. The company, under the brand name Zappfresh, sells fresh meat and ready-to-cook or ready-to-eat products online.
The company has unique strengths, including qualified team management and a well-organised structure.
The highlighted strength is an efficient business model (Farm to Fork Model) wherein the food is directly delivered to consumers from the farm where it is grown. Moreover, this could enhance freshness and taste, nutritional value, and overall fulfilment of the food. Due to the farm-to-fork model, transparency, traceability, and production methods could be increased.
DSM Fresh Foods IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹56.61 | ₹53.80 | ₹2.74 | ₹22.01 |
| 2024 | ₹90.68 | ₹83.05 | ₹4.67 | ₹50.00 |
| 2025 | ₹131.47 | ₹119.82 | ₹9.05 | ₹84.04 |
DSM Fresh Foods IPO Valuation – FY2025
Check DSM Fresh Foods IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 20.78% |
| ROCE: | 24.71% |
| EBITDA Margin: | 13.04% |
| PAT Margin: | 6.92% |
| Debt to equity ratio: | 0.65 |
| Earning Per Share (EPS): | ₹5.53 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 20.78% |
| Net Asset Value (NAV): | ₹29.97 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Chatha Foods Limited | 2.67 | 37.08 | 7.34% | – | 6.06 Cr. |
| Tasty Bite Eatables Limited | 99.80 | 94.72 | 8.23% | – | 25.61 Cr. |
| HMA Agro Industries Limited | 1.20 | 25.50 | 7.71% | – | 60.30 Cr. |
IPO Lead Managers aka Merchant Bankers
- Narnolia Financial Services Ltd.
Company Address
DSM Fresh Foods Ltd.
115-116, First Floor
Vishal Tower, District Centre
Janakpuri, Janakpuri B-1,
West Delhi, New Delhi, 110058
Phone: + 91 70422 88558
Email: [email protected]
Website: https://www.zappfresh.com/
IPO Registrar
Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: [email protected]
Website: https://maashitla.com/allotment-status/public-issues
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Note: The DSM Fresh Foods IPO price band and date are officially announced. The (DSM Fresh Foods IPO grey market premium) will be added to the IPO GMP page as it will start).
