DSM Fresh Foods IPO
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DSM Fresh Foods IPO details
Schedule of DSM Fresh Foods
| Issue open date | 26 Sep 2025 |
| Issue close date | 06 Oct 2025 |
| UPI mandate deadline | 06 Oct 2025 (5 PM) |
| Allotment finalization | 07 Oct 2025 |
| Refund initiation | 08 Oct 2025 |
| Share credit | 08 Oct 2025 |
| Listing date | 09 Oct 2025 |
| Mandate end date | 21 Oct 2025 |
| Lock-in end date for anchor investors (50%) | 06 Nov 2025 |
| Lock-in end date for anchor investors (remaining) | 06 Jan 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About DSM Fresh Foods
DSM Fresh Foods, operating under the brand name “Zappfresh,” is an online meat delivery company committed to revolutionising the way customers experience high-quality non-vegetarian food. Established in 2015, the company has risen to prominence by blending convenience and unpreserved products with customer satisfaction. The company offers a diverse selection of fresh and hygienically sourced meats, ranging from succulent cuts of mutton, poultry, and seafood to exotic options, along with ready-to-cook and ready-to-eat products.
Financials of DSM Fresh Foods
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹59.65 crores |
| Fresh Issue | ₹59.65 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure requirement | 10.68 (17.9%) |
| Marketing expenditure | 15.00 (25.1%) |
| Working capital requirement | 25.00 (41.9%) |
| Unidentified acquisition and general corporate purposes | 8.97 (15.1%) |
Strengths
- Efficient farm-to-fork business model enhancing quality control and supply chain management
- Products sourced from farms using innovative technologies, ensuring healthy and hygienic meat
- Strong brand reputation with improved quality, leading to fewer customer complaints
- Hygienically and humanely maintained slaughterhouses improve product safety and compliance
Risks
- The company operates on rented premises across all locations, creating potential disruption risks if required to vacate
- Negative cash flows from operations in recent years may continue to impact liquidity
- Non-compliance with various statutory provisions in the past has attracted potential penalties
- High dependency on third-party processing units not owned by the company
- Seasonal demand fluctuations during culturally sensitive periods affect revenue
- Outstanding financial indebtedness of Rs 31.70 crores as of FY25, requiring regular servicing
Allotment Status for DSM Fresh Foods
To check your allotment status – click here.
Subscription Figures for DSM Fresh Foods
As per media reports (Link), the Grey Market Premium (GMP) of DSM Fresh Foods is reported at ₹0 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on October 06, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 11.16 | 17.052 | 1.53x |
| NII | 8.38 | 17.28 | 2.06x |
| Retail | 19.53 | 18.792 | 0.96x |
| Total | 39.08 | 53.124 | 1.36x |