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Zappfresh IPO lists at 20% premium; shares hit upper circuit

EntrackrEntrackr · 13d ago
Zappfresh IPO lists at 20% premium; shares hit upper circuit
Medial

News All Stories Zappfresh IPO lists at 20% premium; shares hit upper circuit DSM Fresh Foods, the parent company of online meat delivery platform Zappfresh, made a strong debut on the BSE SME today, listing at Rs 120 per share, a 20% premium over its issue price of Rs 100. Mukul Manchanda 09 Oct 2025 13:47 IST DSM Fresh Foods, the parent company of online meat delivery platform Zappfresh, made a strong debut on the BSE SME today, listing at Rs 120 per share, a 20% premium over its issue price of Rs 100. Zappfresh’s IPO was open for subscription from September 26 to October 6, 2025, with a price band of Rs 95–100 and a minimum investment of Rs 1.2 lakh. The company extended the closing date from September 30 due to low demand, as the issue was only 52% subscribed by then. In the end the Zappfresh’s IPO was oversubscribed 1.36 times, with the retail portion at 0.96x, QIBs (ex-anchors) at 1.53x, and NIIs at 2.06x. Zappfresh’s IPO comprised only a fresh issue of up to 59.06 lakh shares, raising about Rs 59.06 crore. According to the company, the net proceeds from the fresh issue will be utilized for capital expenditure of Rs 10.68 crore, marketing activities worth Rs 15 crore, working capital of Rs 25 crore, and the remaining amount for unidentified acquisitions and general corporate purposes. Zappfresh’s shares hit the upper circuit at Rs 126 apiece as of 1:20 PM today, trading 26% above the issue price, with a total market capitalization of Rs 280.8 crore ($32 million). Founded in 2015 by Deepanshu Manchanda, ZappFresh sells fresh meat, seafood, and ready-to-cook items through its app and website. The company obtains its meat and fish from local farms, processes them at plants and customizes pieces before delivering them to the customers. As on the date of RHP, founder Deepanshu Manchanda holds a 27.66% stake in the company. According to TheKredible, the SIDBI-backed company has raised around $13 million to date, with its most recent funding of $4.3 million (Rs 30 crore) coming in November 2023 from Ah! Ventures, HT Media, and others. For the fiscal year ended March 2025, Zappfresh’s operating scale grew by over 44% to RS 130.73 crore, while its profit nearly doubled to Rs 9.05 crore.

Indiqube Spaces lists at discount; market cap hovers at Rs 4,400 Cr

EntrackrEntrackr · 2m ago
Indiqube Spaces lists at discount; market cap hovers at Rs 4,400 Cr
Medial

Indiqube Spaces lists at discount; market cap hovers at Rs 4,400 Cr Flexible workspace provider Indiqube Spaces made a muffled debut on the stock exchange on Wednesday, listing at Rs 216 on the NSE (National Stock Exchange), a 9% discount to its issue price of Rs 237. While the listing saw a strong response to its Rs 700 crore public offer, which included Rs 650 crore of new shares and Rs 50 crore sold by existing investors, the issue was oversubscribed more than 12 times. Most of the demand came from large institutional investors. At the same time, retail investors bid nearly 13 times the number of shares available to them, while the non-institutional (high-net-worth) category was subscribed to over 8 times. Founded in 2015, Indiqube provides managed workspace solutions to startups, enterprises, and SMEs, with a presence across major Indian cities. The company plans to use the IPO proceeds primarily to repay debt, fund capex, and for general corporate purposes. The tepid listing puts pressure on the company to deliver on its growth plans amid increasing competition in the flexible office segment. While the IPO attracted marquee anchor investors, with investments of Rs 374 crore from HDFC MF, ICICI Pru, Nippon Life, and White Oak, public market investors appear to be treading cautiously. Financially, IndiQube reported a 27.5% YoY revenue growth, clocking Rs 1,059 crore in FY25, compared to Rs 830 crore in FY24. The company also cut its losses by 59% to Rs 139.5 crore, from Rs 341.5 crore a fiscal earlier. Indiqube was trading at Rs 210.85 (as of 11.15 AM) on NSE with a total market capitalization of Rs 4,428 crore (approximately $521 million). It competes with Awfis, which debuted on the stock exchanges in May last year with a strong listing, opening at a 13% premium to its issue price. Smartworks, which went public earlier this month, also saw a positive start, listing at a 7% premium.

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