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EnNutrica IPO
Price Band
₹51.0–54.0
Issue Size
₹34.83 Cr
Lot Size
2,000 shares
Min Investment
₹108,000
GMP
+₹68.0 (125.93%)
Issue Price
₹54.0
Subject to Sauda
₹103400
Paid only if allotted
EnNutrica IPO AI Summary
- EnNutrica IPO is listed on BSE SME in the Dairy Products sector.
- Price band: ₹51.0–₹54.0 per share, lot size 2,000 shares (min. investment ₹108,000).
- Subscription window: 20 Jun–24 Jun 2024, listing on 27 Jun 2024.
- Current GMP is +₹68.0 (125.93%), an estimated listing price of ₹122 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
EnNutrica IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 24 Jun 2024 — 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
EnNutrica IPO Grey Market Premium (GMP) Today
GMP
+₹68.0
GMP %
+125.93%
Est. Listing
₹122.0
Updated: 25 Jul 2026 14:05
About the Company
Incorporated in 2010, Dindigul Farm Product Limited processes whole milk and skimmed milk to produce various dairy ingredients, including milk protein concentrates, skimmed milk powder, dairy whitener, whey protein concentrate, milk whey powder, casein, unbranded cream, butter, and fat-filled powders for infant milk formula. The company has a processing unit in Dindigul that covers an area of 15 acres. Dindigul Farm Product Limited follows and complies with the requirements of various relevant authorities in the industry, such as FSSAI, Halal, Kosher, Export Import Council of India, and Europe Regulations in respect of certain of our products. We have also obtained a registration cum membership certificate from APEDA. The company has established a network of over 150 village collection centers, providing direct access to more than 4,000 farmers and 50 dairy farms. The company sells its products under the brand names ENNUTRICA and Activday, and it currently serves a broad range of customers across various industries. The company has sold its products in over 15 states within the country and 3 countries internationally. As of December 23, 2023, the company had 101 employees, and they had also employed contractual labourers based on business requirements.
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 51.23 | 29.00 | 29.95 | 29.95 |
| Total Income | 68.77 | 81.99 | 28.45 | 18.41 |
| Profit After Tax | 5.88 | 5.26 | -4.20 | -4.61 |
| NET Worth | 3.94 | -16.38 | -21.63 | -17.43 |
| Total Borrowing | 22.64 | 23.98 | 25.79 | 27.16 |
Key Ratios
EPS
₹2.92
NAV
₹2.29
ROE
-95%
ROCE
62%
RoNW
149.36%
P/B Value
23.58
P/E Ratio
18.47
Market Cap
₹131.92 Cr
PAT Margin
8.57%
Debt/Equity
4.63
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Diluted |
|---|---|---|---|---|
| Modern Dairies Ltd. | -41.06 | -12.64% | 3.61 | 5.21 |
| Parag Milk Foods Ltd | 69.81 | 8.37% | 11.55 | 6.34 |
| Dodla Dairy Limited | 148.44 | 10.76% | 29.36 | 15.84 |
| Dindigul Farm Product Limited This IPO | -11.39 | — | — | 3.59 |
Promoters
R Rajasekaran, Rajadharshini Rajasekaran and Indrayani Biotech Ltd.
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 Funding Capital Expenditure 12.12 2 Working Capital Requirements 13.84 3 General Corporate Purposes 5.67 4 Public Issue Expenses 3.20
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹28.45 Cr in the year ending 31 Mar 2022, rising to ₹81.99 Cr by 31 Mar 2023, before declining to ₹68.77 Cr as of 31 Dec 2023. This last figure is a 9-month result, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was a loss of ₹4.20 Cr in the year ending 31 Mar 2022, improving to a profit of ₹5.26 Cr by 31 Mar 2023, and further increasing to ₹5.88 Cr as of 31 Dec 2023. This last figure is a 9-month result, not a full year, so isn't directly comparable.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an indicator of the expected listing price of an IPO. It reflects the demand for the shares in the unofficial market before they are listed on the stock exchange. A positive GMP suggests that the shares may list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their financial goals and risk tolerance. It's important to consider the company's fundamentals and market conditions before making an investment decision.
Who May Want to Wait
Investors who are risk-averse or those looking for stable, predictable returns may want to avoid this IPO. The dairy sector can be volatile, and potential investors should assess their comfort with such risks.
IPO Timeline, Explained
The IPO opens for subscription on June 20, 2024, and closes on June 24, 2024. Allotment of shares will take place on June 25, 2024, and the shares are expected to be listed on the stock exchange on June 27, 2024.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make by selling shares on the first day of trading. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and company performance. It's important to remember that investing in IPOs carries risks, and past performance is not indicative of future results.
This evaluation is generated from EnNutrica'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 EnNutrica IPO GMP today?
EnNutrica IPO GMP today is +₹68.0 (125.93%), indicating an estimated listing price of ₹122. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of EnNutrica IPO?
The price band of EnNutrica IPO is ₹51.0–₹54.0 per share.
When does EnNutrica IPO open and close?
EnNutrica IPO opens on 20 June 2024 and closes on 24 June 2024.
When does EnNutrica IPO list on the stock exchange?
EnNutrica IPO listed on 27 June 2024 at ₹122.0.
What is the lot size for EnNutrica IPO?
The lot size for EnNutrica IPO is 2000 shares, requiring a minimum investment of ₹108,000.
What is the price band for the EnNutrica IPO?
The price band for the EnNutrica IPO is ₹51.0 to ₹54.0.
What is the minimum investment required?
The minimum investment required is ₹108,000, which corresponds to a lot size of 2000 shares.
When does the IPO open and close?
The IPO opens on June 20, 2024, and closes on June 24, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on demand in the unofficial market.
When is the listing date for the shares?
The shares are expected to be listed on June 27, 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
20 Jun 2024
Close
24 Jun 2024
Allotment
25 Jun 2024
Listing
27 Jun 2024
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