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Leo Dry Fruits IPO
Price Band
₹51.0–52.0
Issue Size
₹25.12 Cr
Lot Size
2,000 shares
Min Investment
₹104,000
GMP
+₹16.0 (30.77%)
Issue Price
₹52.0
Subject to Sauda
₹24300
Paid only if allotted
Leo Dry Fruits IPO AI Summary
- Leo Dry Fruits IPO is listed on BSE SME in the Other Food Products sector.
- Price band: ₹51.0–₹52.0 per share, lot size 2,000 shares (min. investment ₹104,000).
- Subscription window: 01 Jan–03 Jan 2025, listing on 08 Jan 2025.
- Current GMP is +₹16.0 (30.77%), an estimated listing price of ₹68 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Leo Dry Fruits IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 03 Jan 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
Leo Dry Fruits IPO Grey Market Premium (GMP) Today
GMP
+₹16.0
GMP %
+30.77%
Est. Listing
₹68.0
Updated: 25 Jul 2026 14:15
About the Company
Incorporated in November 2019, Leo Dryfruits & Spices Trading Limited specializes in manufacturing and trading a variety of spices and dry fruits under the brand VANDU as well as frozen and semi-fried products under “FRYD. The company supplies whole and blended spices, roasted and flavoured dry fruits, ghee, seasonings, and other grocery items in various packaging sizes. The company's business is divided into two verticals:- Trading of Products Manufacturing and Processing of Spices The company's manufacturing unit is situated in Thane, Maharastra. The company operates in three segments: B2B, B2C, and D2C. In the B2B segment, the company wholesales whole spices and dry fruits in bulk to traders for unbranded resale In the B2C segment, the company sells its products as whole spices, blended spices, dry fruits, and groceries under VANDU through distributors, super stockists, e-commerce platforms like Amazon and Flipkart, and its website. In the D2C segment, they sell directly to customers through its website and online channel partners such as Amazon, Flipkart etc. As of September 30, 2024, the Company had approximately 46 permanent employees at various levels. Competitive Strength: Experienced promoters and management team Diversified product portfolio In house manufacturing and processing capabilities Increased brand equity over the years. Wide spread customer base across various segments.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 69.89 | 52.35 | 26.64 | 11.99 |
| Total Income | 17.88 | 62.27 | 36.47 | 5.27 |
| Profit After Tax | 1.87 | 6.64 | 3.63 | 0.08 |
| NET Worth | 35.77 | 33.90 | 5.00 | 1.36 |
| Reserves and Surplus | 22.71 | 20.84 | 3.70 | 0.07 |
| Total Borrowing | 16.70 | 9.15 | 15.37 | 6.01 |
Key Ratios
EPS
₹5.08
NAV
₹26.63
ROE
34.12%
ROCE
33.52%
RoNW
19.58%
P/B Value
1.95
P/E Ratio
10.23
Market Cap
₹93.04 Cr
PAT Margin
10.68%
Debt/Equity
0.27
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Madhusudan Masala Limited | 35.7 | 19.97% | 24.65 | 8.27 |
| Hoac Foods India Limited | 12.69 | 30.53% | 32.22 | 3.88 |
| Jetmall Spices And Masala Ltd | 16.22 | 0.44% | 156.43 | 0.07 |
| Leo Dry Fruits and Spices Trading Ltd This IPO | 26.63 | 19.58% | 10.23 | 5.21 |
Promoters
Kaushik Sobhagchand Shah, Ketan Sobhagchand Shah and Parth Ashish Mehta
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 working capital requirements of the Company 15.00 2 Branding, Advertisement and Marketing activities 4.25 3 General Corporate Purposes 2.70 4 Issue Expenses 3.16 Total 25.12
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹5.27 Cr in the period ending 31 Mar 2022, rising to ₹36.47 Cr by 31 Mar 2023, and further increasing to ₹62.27 Cr by 31 Mar 2024. However, the most recent figure of ₹17.88 Cr for the period ending 30 Sep 2024 is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹0.08 Cr in the period ending 31 Mar 2022, increasing to ₹3.63 Cr by 31 Mar 2023, and further rising to ₹6.64 Cr by 31 Mar 2024. The most recent figure of ₹1.87 Cr for the period ending 30 Sep 2024 is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Priced at roughly 10.23 trailing earnings, versus peers trading at 24.65-156.43.
Grey Market Premium, Explained
The grey market premium (GMP) is an indicator of the expected listing price of an IPO on its debut day. A positive GMP suggests that the shares are expected to list above their issue price, while a negative GMP indicates the opposite. Investors often look at GMP to gauge market sentiment about the IPO.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's important to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable returns may want to avoid this IPO, as it involves inherent risks associated with new market entrants and fluctuating demand.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on January 1, 2025, and closes on January 3, 2025. Allotment of shares is expected by January 6, 2025, with the listing date set for January 8, 2025.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by various factors including market sentiment, demand for the stock, and overall market conditions. Investors should be aware that while some IPOs may see significant gains on their first day, others may not perform as expected.
This evaluation is generated from Leo Dry Fruits'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 Leo Dry Fruits IPO GMP today?
Leo Dry Fruits IPO GMP today is +₹16.0 (30.77%), indicating an estimated listing price of ₹68. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Leo Dry Fruits IPO?
The price band of Leo Dry Fruits IPO is ₹51.0–₹52.0 per share.
When does Leo Dry Fruits IPO open and close?
Leo Dry Fruits IPO opens on 01 January 2025 and closes on 03 January 2025.
When does Leo Dry Fruits IPO list on the stock exchange?
Leo Dry Fruits IPO listed on 08 January 2025 at ₹68.0.
What is the lot size for Leo Dry Fruits IPO?
The lot size for Leo Dry Fruits IPO is 2000 shares, requiring a minimum investment of ₹104,000.
What is the lot size for this IPO?
The lot size for this IPO is 2000 shares.
What is the minimum investment amount?
The minimum investment amount is ₹104,000.
What is the price band for the IPO?
The price band for the IPO is ₹51.0 to ₹52.0.
When does the IPO open and close?
The IPO opens on January 1, 2025, and closes on January 3, 2025.
What does GMP mean?
GMP stands for grey market premium, indicating the expected listing price of the IPO shares.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
01 Jan 2025
Close
03 Jan 2025
Allotment
06 Jan 2025
Listing
08 Jan 2025
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