With Price Band of Rs 96–Rs 101, Zappfresh parent company to raise funds through SME BSE listing; IPO of 59.06 lakh shares opens for investors this September
DSM Fresh Food, the parent company of Zappfresh and a leading omnichannel retailer of fresh meat and ready-to-cook/eat products, announced that its Initial Public Offering (IPO) will open on Friday, 26 September 2025.
The IPO, comprising up to 59,06,400 equity shares of face value Rs 10 each, will be offered at a price band of Rs 96–Rs 101 per share. The issue will close on Tuesday, 30 September 2025, with the anchor investor portion opening a day earlier on 25 September.
Out of the total issue, 3,31,200 equity shares worth Rs 334.51 lakh are reserved for the market maker. The net issue will comprise 55,75,200 shares, aggregating to Rs 5,630.95 lakh. The offering will be made through the book-building process in compliance with SEBI ICDR Regulations.
Proceeds from the IPO will be used to fund working capital needs of Rs 25 crore, marketing spends of Rs 15 crore, capital expenditure of Rs 11 crore, and Rs 3 crore towards acquisitions and strategic growth initiatives.
Founded in 2015, DSM Fresh Food, through its brand Zappfresh, operates on a farm-to-fork model with a strong presence across metro cities. Its integrated supply chain includes sourcing, processing, cold storage, and distribution, ensuring hygienic and high-quality meat for retail consumers and HoReCa partners.
The company has expanded its footprint with successful acquisitions such as Bonsaro in Mumbai and Dr. Meat in Bangalore. In FY25, its revenue mix stood at 55 per cent from chicken, 21 per cent from mutton and 24 per cent from fish and seafood.
Narnolia Financial Services is acting as the Book Running Lead Manager. The equity shares are proposed to be listed on the SME platform of BSE.
