Zappfresh Parent DSM Fresh Foods Files ₹59.65 Crore IPO, To List on BSE SME Platform

DSM Fresh Foods Limited, the parent company of online meat and seafood delivery brand Zappfresh, has announced the details of its upcoming Initial Public Offering (IPO). The issue will open on September 26, 2025, and close on September 30, 2025, with the shares scheduled to be listed on the BSE SME platform on October 6, 2025.

Zappfresh IPO Key Details

• IPO Dates: September 26–30, 2025
• Listing Date: October 6, 2025 (BSE SME)
• Price Band: ₹96–₹101 per share
• Face Value: ₹10 per share
• Issue Size: Fresh issue of 59.06 lakh shares aggregating to ₹59.65 crore
• Offer for Sale (OFS): None

Zappfresh IPO Lot Size and Investment

The IPO has a lot size of 1,200 shares. For retail investors, the minimum application is 2 lots (2,400 shares), translating into an investment of ₹2,42,400 at the upper price band. This makes it one of the higher-ticket IPOs in the SME segment.

Utilization of IPO Proceeds

• DSM Fresh Foods plans to use the IPO proceeds for the following purposes:
• Working capital requirements: ₹25 crore
• Marketing and brand building: ₹15 crore
• Capital expenditure: ₹11 crore
• Acquisitions and strategic initiatives: ₹3 crore
• General corporate purposes

Company Financial Performance

The company has shown strong growth in recent years:

• Revenue (FY25): ₹131.47 crore, up 45% from ₹90.68 crore in FY24
• Net Profit (FY25): ₹9.1 crore, a 94% jump from ₹4.7 crore in FY24

This robust performance indicates growing demand for Zappfresh’s farm-to-fork delivery model in India’s online meat and seafood segment.

About Zappfresh

Founded in 2015 by Deepanshu Manchanda and Shruti Gochhwal, Zappfresh operates with a direct farm-to-fork model, sourcing fresh meat and seafood from farms and delivering them to customers. The platform currently operates in Delhi-NCR and Bengaluru and has expanded through acquisitions of brands like Bonsaro and Dr. Meat.

In the competitive meat delivery market, Zappfresh competes with well-known players such as Licious, FreshToHome, and TenderCuts.

The Zappfresh IPO reflects growing investor interest in India’s online fresh meat and seafood delivery sector, which is witnessing rapid adoption due to changing consumer preferences. With its strong revenue growth and profitability, the company is positioning itself as a key challenger to established rivals. Market analysts will be watching closely to see how investors respond to this high-ticket SME IPO.

FAQs on Zappfresh IPO

1. When will the Zappfresh IPO open and close?

The IPO will open on September 26, 2025, and close on September 30, 2025.

2. What is the Zappfresh IPO price band?

The price band has been set at ₹96 to ₹101 per share.

3. How much is the minimum investment required for retail investors?

Retail investors must apply for at least 2 lots (2,400 shares), requiring an investment of around ₹2.42 lakh.

4. What is the total issue size of the Zappfresh IPO?

The IPO will raise approximately ₹59.65 crore through a fresh issue of 59.06 lakh equity shares.

5. When will Zappfresh shares list on the stock exchange?

The shares are expected to be listed on the BSE SME platform on October 6, 2025.