Srivari Spices and Foods Limited incorporated on January 29, 2019, manufactures and markets spices and flour in the Telangana and Andhra Pradesh provinces of India. They pursue a special business model where they carefully choose raw materials from various parts of the country and process their products without using artificial preservatives or chemicals.
Srivari Spices and Foods Limited has two distinct business methods. The first business model is direct-to-customer (D2C), in which the company delivers products to the homes of customers via approximately 15,000 retail outlets. The second business model is business-to-business (B2B), in which the company sells its products to other businesses. They strive to minimize wastage and maintain a continuing engagement with their consumers by packing their products in proportions that may support clients till the shelf life of the product.
Srivari Spices and Foods Limited initially manufactured turmeric powder, chili powder, and coriander powder. In the following years, the company expanded its product portfolio by including madras sambar masala, chicken masala, garam masala, and mutton masala in different packaging designs.
Srivari Spices and Foods Limited operates on a sustainable business approach. They get their raw materials directly from farmers to ensure that their products contain only natural ingredients. They enable farmers to receive the full value of their produce by removing market intermediaries. This sourcing technique also allows them to sell their items at a lower price than their competitors. They source raw products from various places across the country to offer an authentic taste free of artificial additions.
Srivari Spices and Foods Limited prioritises quality control and assurance in its manufacturing process. They have a separate Quality Division in each of their manufacturing plants that conducts testing on raw materials and finished goods to ensure compliance with regulatory standards. Srivari Spices and Foods Limited runs two manufacturing sites in Telangana, both of which are outfitted with machinery, handling equipment, and in-house laboratories for quality testing.
Srivari Spices and Foods Limited IPO Complete Details:
| IPO Date | 07 August 2023 to 09 August 2023 |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Face Value | 10 Rs. Per Share |
| Price | 40 To 42 Rs. |
| Lot Size | 3000 |
| Issue Size | 2,142,000 shares (Rs. 9.00 Cr) |
| Fresh Issue | 2,142,000 shares (Rs. 9.00 Cr) |
| Listing Date | 18 August 2023 |
Srivari Spices and Foods Limited IPO Timetable:
| Activity | Date* |
|---|---|
| Opening Date | 07 August 2023 |
| Closing Date | 09 August 2023 |
| Allotment | 14 August 2023 |
| Initiation of Refunds | 16 August 2023 |
| Credit of Shares to Demat Account | 17 August 2023 |
| Listing Date | 18 August 2023 |
Company Financial Details:
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Borrowings |
|---|---|---|---|---|---|
| 31 March 2020 | 235.88 | 19.05 | -10.69 | 177.54 | |
| 31 March 2021 | 627.40 | 1,139.90 | 35.27 | 426.91 | |
| 31 March 2022 | 1,067.63 | 1,764.21 | 72.84 | 499.75 | 277.39 |
| 31 December 2022 | 2,060.26 | 2,191.63 | 135.38 | 732.80 | 1,026.91 |
AS OF NOW, the GMP OF Srivari Spices and Foods Limited is Around 27 Rs.