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DSM Fresh Foods IPO
Price Band
₹95.0–100.0
Issue Size
₹59.06 Cr
Lot Size
1,200 shares
Min Investment
₹240,000
2 LOTS MIN
GMP
—
Issue Price
₹100.0
DSM Fresh Foods IPO AI Summary
- DSM Fresh Foods IPO is listed on BSE SME in the Meat Products including Poultry sector.
- Price band: ₹95.0–₹100.0 per share, lot size 1,200 shares (min. investment ₹240,000, 2 lots minimum).
- Subscription window: 26 Sep–06 Oct 2025, listing on 09 Oct 2025.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
DSM Fresh Foods IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 06 Oct 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
DSM Fresh Foods IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in May 2015, DSM Fresh Foods Limited is engaged in the business of fresh meat and ready-to-cook/eat non-veg products retailer. The company operating under the brand name Zappfresh, specialises in the online retail of fresh meat and ready-to-cook/eat products. The user-friendly website and app offer diverse, fresh, hygienically sourced meats, including poultry, seafood, and exotic options. The company ensures that all produce reaches consumers fresh. Zappfresh offers quality fresh meat via its website and mobile app, available on Android and ios, with over 100,000 downloads on the Play Store. Products: Fresh Meats: Chicken, mutton, pork, seafood, and specialty meats Ready-to-Cook/Eat Items: Mutton Seekh Kebab, Chicken Cheese Nuggets, Masala Fish Fingers Cold Cuts: Chicken Salami, Chicken Ham, sausages Marinated Meats: Chicken Methi Tikka, Masala Wings, Chicken Tikka As of August 13, 2025, the company had 46 employees. Competitive Strength: Experienced and Qualified management team. Well organized organisational structure, Efficient business model (Farm to Fork Model). Products come from farms with innovative technologies for healthy animal growth. Improving quality builds its reputation with fewer complaints. Hygienically and humanely well-maintained slaughterhouses.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 84.04 | 50.00 | 22.01 |
| Total Income | 131.47 | 90.68 | 56.61 |
| Profit After Tax | 9.05 | 4.67 | 2.74 |
| EBITDA | 17.05 | 9.58 | 3.41 |
| NET Worth | 49.09 | 38.04 | 16.54 |
| Reserves and Surplus | 32.70 | 37.95 | 16.46 |
| Total Borrowing | 31.70 | 7.65 | 2.07 |
Key Ratios
EPS
₹5.53
NAV
₹29.97
ROE
20.78%
ROCE
24.71%
RoNW
20.78%
P/B Value
3.37
P/E Ratio
18.28
Market Cap
₹225.10 Cr
PAT Margin
5.16%
Debt/Equity
0.65
Peer Comparison
| Company | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|
| HMA Agro Industries Limited | 25.5 | 1.2 | 1.2 |
| Tasty Bite Eatables Ltd. | 94.72 | 99.8 | 99.8 |
| Chatha Foods Ltd | 37.08 | 2.67 | 2.67 |
| DSM Fresh Foods Limited This IPO | — | 5.53 | 5.53 |
Promoters
Deepanshu Manchanda and Priya Aggarwal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Capital Expenditure Requirement 10.68 2 Marketing Expenditure 15.00 3 Working Capital Requirement 25.00 4 Unidentified Acquistion and General Corporate Purposes 2.18 5 Issue expenses 6.21 Total 59.06
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹56.61 Cr in the period ending 31 Mar 2023, rising to ₹90.68 Cr by 31 Mar 2024, and further increasing to ₹131.47 Cr by 31 Mar 2025. This shows a steady growth in revenue over the three periods.
Profit Trend
Profit after tax was ₹2.74 Cr in the period ending 31 Mar 2023, increasing to ₹4.67 Cr by 31 Mar 2024, and further rising to ₹9.05 Cr by 31 Mar 2025. This indicates a positive trend in profitability over the reported periods.
Valuation
The implied P/E ratio for DSM Fresh Foods Limited at the issue price is approximately 18.28 times trailing earnings, compared to peers trading at P/E ratios ranging from 25.5 to 94.72.
Grey Market Premium, Explained
The grey market refers to unofficial trading of shares before they are listed on the stock exchange. It often provides an indication of the expected listing price based on demand and supply dynamics among investors. However, prices in the grey market can be volatile and may not reflect the actual market conditions once the shares are officially listed.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It is important to consider the company's growth potential and market conditions.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable, dividend-paying stocks may want to avoid IPOs like this, which can be subject to price fluctuations and market uncertainties.
Listing Gains — The Risk
Listing-day gains can be unpredictable and depend on various factors including market sentiment, demand for the stock, and overall market conditions. Investors should be aware that while some IPOs may see a surge in price on listing day, others may not perform as expected, leading to potential losses.
This evaluation is generated from DSM Fresh Foods's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of DSM Fresh Foods IPO?
The price band of DSM Fresh Foods IPO is ₹95.0–₹100.0 per share.
When does DSM Fresh Foods IPO open and close?
DSM Fresh Foods IPO opens on 26 September 2025 and closes on 06 October 2025.
When does DSM Fresh Foods IPO list on the stock exchange?
DSM Fresh Foods IPO listed on 09 October 2025 at ₹100.0.
What is the lot size for DSM Fresh Foods IPO?
The lot size for DSM Fresh Foods IPO is 1200 shares, requiring a minimum investment of ₹240,000 (2 lots).
What is the lot size for DSM Fresh Foods IPO?
The lot size for DSM Fresh Foods IPO is 1200 shares.
What is the minimum investment required for this IPO?
The minimum investment required is ₹240,000.
What is the price band for the DSM Fresh Foods IPO?
The price band for the IPO is between ₹95.0 and ₹100.0.
When is the listing date for DSM Fresh Foods?
The listing date is scheduled for 9th October 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which the shares might trade in the grey market before listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
26 Sep 2025
Close
06 Oct 2025
Allotment
07 Oct 2025
Listing
09 Oct 2025
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