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Meat e-tailer Zappfresh seen taking valuation cut as it files for IPO

VCCircle

VCCircle · 10m ago

Meat e-tailer Zappfresh seen taking valuation cut as it files for IPO

Delhi-based meat e-commerce startup, Zappfresh, has filed for an IPO on the BSE's junior exchange. The company, backed by family offices and venture capital firms, recently raised funding from investors. However, it is expected to face a valuation cut during the IPO process. Zappfresh specializes in delivering raw meat products to customers across India.

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D2C Meat Delivery Startup Zappfresh Files DRHP To List On BSE SME

Inc42 · 10m ago

D2C Meat Delivery Startup Zappfresh Files DRHP To List On BSE SME

Zappfresh, an online meat delivery platform, is planning an IPO consisting of a fresh issue of 59.06 lakh equity shares. The company, founded in 2015, operates in the Delhi NCR region and delivers meat through its website and app. The funds raised from the IPO will be used for various purposes including acquisitions, marketing, capital expenditure, and working capital requirements.

Exclusive: ZappFresh converts into public company

Entrackr

Entrackr · 1y ago

Exclusive: ZappFresh converts into public company

Joining the league of many companies such as Swiggy, FirstCry, Cars24, Pine Labs, and Pepperfry, meat delivery platform ZappFresh is preparing to go public. Taking the first step towards the process, the Gurugram-based firm is now converting into a public entity. The new name of the company is ‘DSM Fresh Foods Limited’, regulatory filings show. According to Entrackr’s sources, the company is likely to go IPO in the last leg of the ongoing financial year (FY25). Queries sent to ZappFresh didn’t elicit any immediate response. 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. Last year, it completed its first acquisition — Dr. Meat from Sukos Foods. Dr. Meat specializes in providing sustainably bred chicken from the outskirts of Bengaluru. It is also operational in Delhi-NCR. Zappfresh has also increased its authorized capital concerning the IPO and announced bonus shares in the ratio of 725:1 i.e. 725 equity shares for every 1 equity shares held by the shareholders, the filing added. Zappfresh proposed the appointment of Anchal Kapoor and Suman Chaudhary as independent directors, with Manchanda proposed to serve as Managing Director and Chairman of the company. The company has raised around $14 million to date including its $4.3 million funding from Ah! Ventures, HT Media and others in November last year. According to the startup data intelligence platform TheKredible, SIDBI Venture Capital is the largest external stakeholder in the nine-year-old firm followed by other investors. The company is yet to file its financial results for FY24 but its revenue from operations was flat at Rs 56 crore during the fiscal year ended March 2023. The firm posted a profit of Rs 11 crore in the same period.

Zappfresh expands to MENA region with Dubai launch in Q2 2025

Entrackr

Entrackr · 4m ago

Zappfresh expands to MENA region with Dubai launch in Q2 2025

Zappfresh expands to MENA region with Dubai launch in Q2 2025 Online fresh fish and meat retailer ZappFresh has expanded its operations across India, the Middle East, and the MENA region. The Gurugram-based company is set to launch its operations in Dubai in the second quarter of 2025. The firm aims to strengthen its presence in western India and explore new markets. It recently broadened its footprint by acquiring Bonsaro, a Mumbai-based online meat and seafood delivery brand. According to a press release by ZappFresh, this expansion has been strategically planned and thoroughly researched as part of the company’s global growth strategy. Founded in 2015 by Deepanshu Manchanda, ZappFresh offers fresh meat, seafood, and ready-to-cook items through its app and website. The expansion has come at a time when Zappfresh is set to launch its initial public offering (IPO) in 2025. The firm filed a draft red herring prospectus (DRHP) for an IPO on BSE SME in August last year. ZappFresh reported a 60% increase in its operating revenue to Rs 90.4 crore in FY24 from Rs 56.3 crore in FY23, while its net profit saw a 70% year-on-year (YoY) growth to Rs 4.7 crore in the last financial year. ZappFresh has raised approximately $14 million to date, including $4.3 million in funding from Ah! Ventures, HT Media, and others in November last year. According to the startup data intelligence platform TheKredible, SIDBI Venture Capital is the largest external stakeholder in the nine-year-old firm, followed by other investors.

ZappFresh ends FY23 with profit and Rs 57 Cr revenue

Entrackr

Entrackr · 1y ago

ZappFresh ends FY23 with profit and Rs 57 Cr revenue

ZappFresh, a smaller player in the direct-to-consumer meat delivery sector compared to Licious and FreshToHome, has maintained profitability in FY22 and FY23. Despite not pursuing rapid growth, it generated revenue of Rs 70 crore in FY23, with a focus on sustainable growth. ZappFresh operates in Delhi-NCR and Bengaluru, delivering fresh meat, seafood, and ready-to-cook items. Material procurement was the primary cost center, accounting for 40-50% of expenses, while the company's profit in FY23 was around Rs 3.5 crore. It aims for two-fold growth in profit after tax in the current fiscal year.

Decoding online meat retailer Zappfresh’s SME IPO and growth strategy

Livemint

Livemint · 9m ago

Decoding online meat retailer Zappfresh’s SME IPO and growth strategy

Indian meat delivery startup Zappfresh aims to expand its presence in India and globally, as well as introduce new product lines, to achieve three to four-fold growth within three years, according to founder Deepanshu Manchanda. The company recently filed for an initial public offering, with plans to raise INR590m ($7.8m) on the BSE SME platform. Zappfresh, backed by investors including SIDBI Trustee and Amit Burman Family Office, focuses on direct-to-consumer fresh meat delivery and claims to be the only profitable business in the sector, having achieved EBITDA of INR9.58 crore in 2023.

Zappfresh DRHP: Revenue Surges 60% To INR 90 Cr In FY24, Profit Jumps 70%

Inc42 · 10m ago

Zappfresh DRHP: Revenue Surges 60% To INR 90 Cr In FY24, Profit Jumps 70%

Zappfresh, a D2C meat delivery startup, saw its net profit increase by 70% to INR 4.7 Cr in FY24 compared to INR 2.7 Cr in the previous fiscal year. Delhi contributed the most to the company's revenue, accounting for 35.7%, followed by Haryana with a 27.96% share. Zappfresh's IPO consists of a fresh issue of 59.06 Lakh equity shares without any offer for sale component.

Ola gets a breather after sharp valuation cut ahead of planned IPO

VCCircle

VCCircle · 1y ago

Ola gets a breather after sharp valuation cut ahead of planned IPO

Ola, an Indian ride-hailing company, has received a slight boost in valuation from one of its investors after facing a sharp cut in its valuation last year. The private equity-backed cab aggregator has recently seen a marginal increase in its value, providing some relief for the company. This comes as Ola prepares for its planned Initial Public Offering (IPO).

Vanguard cuts Ola’s valuation to $2 bn amid IPO buzz

The Arc Web

The Arc Web · 8m ago

Vanguard cuts Ola’s valuation to $2 bn amid IPO buzz

Vanguard, a U.S.-based asset management firm, recently reduced its valuation of Ola, India's ride-hailing company, to around $2 billion, down from a 2021 peak of $7.3 billion. Vanguard initially invested in Ola in 2015, valuing it at nearly $5 billion. Over the years, Ola's valuation has fluctuated, including a sharp drop to $1.9 billion in early 2024, a 74% decrease from the 2021 high. This markdown is significant, as Vanguard holds $9.3 trillion in assets and Ola is preparing for an IPO. Analysts believe Vanguard's valuation cut may influence Indian mutual funds' perceptions of Ola as it moves toward public listing.

Boat’s parent Imagine Marketing files for IPO; eyes valuation of over $1.5 billion

Economic Times

Economic Times · 2m ago

Boat’s parent Imagine Marketing files for IPO; eyes valuation of over $1.5 billion

Imagine Marketing, owner of consumer device maker Boat, has filed draft IPO documents with India's SEBI using a confidential route. The company previously planned a Rs 2,000 crore IPO in 2022 but paused due to market conditions, opting instead for $60 million in private funding. Now, it prepares for a $300-500 million IPO, aiming for a valuation over $1.5 billion. Under SEBI's pre-filing scheme, details remain undisclosed until a more final decision.

Temasek-backed Licious sets sights on $2 billion IPO in India

Economic Times

Economic Times · 4m ago

Temasek-backed Licious sets sights on $2 billion IPO in India

Licious, supported by Temasek Holdings, plans a $2 billion IPO in India by 2026. The company is striving for profitability and has been speeding up deliveries to enhance competitiveness. Valued at $1.5 billion in 2023, Licious is expanding brick-and-mortar stores and targeting the unorganized meat market. It aims for 50 stores by March 2026. Licious seeks readiness for its IPO within 12 months, driven by India's growing demand for online meat and seafood consumption.

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