DSM Fresh Foods Ltd.
DSMSME
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Overview
DSM Fresh Foods Limited, established in 2015, is an online retailer specializing in fresh meat and ready-to-cook/eat non-vegetarian products under its brand 'Zappfresh'. Operating primarily in the Delhi-NCR, Bengaluru, and Mumbai regions, the company utilizes a technology-driven, farm-to-fork business model to manage the entire supply chain from procurement to last-mile delivery. Zappfresh offers a diverse range of hygienically sourced and preservative-free products, including chicken, mutton, and seafood, through its user-friendly website and mobile application, focusing on quality, convenience, and customer satisfaction.
Opening Date
Sep 26, 2025
Closing Date
Sep 30, 2025
Listing Date
Oct 06, 2025
IPO Type
SME
IPO Status
Closed
Issue Size
59.06 Cr
Fresh Issue
59.06 Cr
Offer for Sale
0 Cr
Price Band
₹96 - ₹101
Lot Size
1200
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
DSM Fresh Foods Limited intends to utilize the Net Proceeds from the issue for the following objects:
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To fund capital expenditure requirements of Rs. 10.68 crores for setting up six new cold storage units in Delhi, Mumbai, and Odisha, and for purchasing ten insulated trucks and ten vehicles to strengthen the supply chain.
- •
To allocate Rs. 15.00 crores for branding and marketing expenditures, primarily through a strategic collaboration with HT Media Platform to enhance brand recognition and market penetration.
- •
To meet incremental working capital requirements of Rs. 25.00 crores to support business growth, fund operational needs, and capitalize on strategic opportunities.
- •
To utilize the remaining funds for unidentified acquisitions and general corporate purposes, with the cumulative amount not exceeding 35% of the total funds raised.
Key Performance Indicator
P/E Ratio
3.356975882258607
EPS
1.966042675356147
ROE
20.78%
ROCE
24.71%
RONW
20.78%
Debt to Equity Ratio
0.65
PAT Margin
5.16%
EBITDA Margin
13.04%
P/B
3.37
SWOT Analysis
Strengths
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Technology-driven operations, including a sophisticated cold chain and supply chain management system for demand forecasting, inventory management, and customer acquisition.
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A wide and diverse product portfolio that includes various cuts of fresh chicken, mutton, seafood, and an extensive range of ready-to-cook and ready-to-eat items.
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Implementation of an efficient 'Farm to Fork' business model, ensuring direct sourcing, quality control, and delivery of fresh, preservative-free products to consumers.
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Led by an experienced and qualified management team with deep entrepreneurial and operational expertise in the online retail and food-tech sectors.
Weaknesses
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High dependency on a consistently maintained temperature-controlled supply chain, as the products are highly perishable, increasing the risk of contamination and spoilage.
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The business is predominantly internet-based, making it vulnerable to cybersecurity threats, internet connectivity disruptions, and technology-related risks.
Opportunities
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The Indian meat and poultry market is a large and rapidly growing sector, driven by changing lifestyles, increased health consciousness, and a preference for hygienic and conveniently packaged products.
- •
A large and expanding consumer base for non-vegetarian products in India, with urbanization and rising disposable incomes expected to further boost consumption of high-protein foods.
Threats
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Intense competition from established organized players, new e-commerce entrants, and a vast unorganized market of local butchers, supermarkets, and vendors.
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The growing popularity of plant-based meat alternatives, which cater to changing consumer preferences towards vegetarianism, health, and environmental sustainability.
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Vulnerability to environmental factors, climate change, and disease outbreaks in livestock and poultry, which can disrupt the supply chain and impact sourcing costs.
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Changes in government regulations related to food safety, animal welfare, and environmental standards could impose additional compliance costs and operational challenges.
Subscription Rate
Frequently Asked Questions about DSM Fresh Foods Ltd.
DSM Fresh Foods Limited, established in 2015, is an online retailer specializing in fresh meat and ready-to-cook/eat non-vegetarian products under its brand 'Zappfresh'. Operating primarily in the Delhi-NCR, Bengaluru, and Mumbai regions, the company utilizes a technology-driven, farm-to-fork business model to manage the entire supply chain from procurement to last-mile delivery. Zappfresh offers a diverse range of hygienically sourced and preservative-free products, including chicken, mutton, and seafood, through its user-friendly website and mobile application, focusing on quality, convenience, and customer satisfaction.
The DSM Fresh Foods Ltd. IPO is scheduled to open for subscription on Sep 26, 2025 and close on Sep 30, 2025. Investors can apply for shares during this period through eligible platforms.
The price band for the DSM Fresh Foods Ltd. IPO is ₹96 to ₹101. Investors can place bids within this range once the issue opens.
The minimum lot size for the DSM Fresh Foods Ltd. IPO is 1200 shares. The minimum investment amount ₹1,21,200.
The total issue size of the DSM Fresh Foods Ltd. IPO is approximately ₹59.06. Issue size represents the total value of shares offered to the public.
As per the latest available information, the DSM Fresh Foods Ltd. IPO has been subscribed 0.21 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the DSM Fresh Foods Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of DSM Fresh Foods Ltd. are expected to list on stock exchanges on Oct 06, 2025, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the DSM Fresh Foods Ltd. IPO are proposed to be used for DSM Fresh Foods Limited intends to utilize the Net Proceeds from the issue for the following objects:, To fund capital expenditure requirements of Rs. 10.68 crores for setting up six new cold storage units in Delhi, Mumbai, and Odisha, and for purchasing ten insulated trucks and ten vehicles to strengthen the supply chain., To allocate Rs. 15.00 crores for branding and marketing expenditures, primarily through a strategic collaboration with HT Media Platform to enhance brand recognition and market penetration., To meet incremental working capital requirements of Rs. 25.00 crores to support business growth, fund operational needs, and capitalize on strategic opportunities., To utilize the remaining funds for unidentified acquisitions and general corporate purposes, with the cumulative amount not exceeding 35% of the total funds raised.
Before applying for the DSM Fresh Foods Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
