Leo Dry Fruits and Spices IPO is a ₹25.12 crore book-built issue comprising 48.30 lakh fresh shares. Investors can subscribe to the IPO from January 1, 2025, to January 3, 2025. The issue will list on the BSE SME platform, with a tentative listing date of January 8, 2025.
Leo Dry Fruits and Spices IPO price band is set between ₹51 and ₹52 per share. Retail investors must apply for a minimum lot size of 2,000 shares, requiring an investment of ₹1,04,000. High Net Worth Individuals (HNIs) need to apply for at least 2 lots, or 4,000 shares, amounting to ₹2,08,000.
Shreni Shares Limited is the book-running lead manager for the IPO, while Bigshare Services Pvt Ltd acts as the registrar. Rikhav Securities Limited is the market maker for this offering.
The allotment of shares is expected to be finalised on January 6, 2025. Investors interested in detailed information can refer to the Leo Dry Fruits and Spices IPO Red Herring Prospectus (RHP) to make informed decisions.
Industry Outlook
- The global food and beverage industry is valued at approximately $9 trillion annually, reflecting its immense economic scale and demand worldwide.
- The global spice market is projected to grow at a CAGR of 4.7% from 2021 to 2026, driven by increasing consumer demand for health-conscious and flavorful ingredients.
- The Indian spice industry experienced robust growth of 8% in volume and 20% in value terms during 2020-2021, highlighting strong market demand for Indian spices.
Leo Dry Fruits and Spices IPO Objectives
The company will use the proceeds of the issue for the following objects:
- The funds will be used to meet the company’s working capital needs, ensuring smooth day-to-day operations.
- A portion of the proceeds will be used for branding, advertising, and marketing to enhance market presence and customer outreach.
- The remaining funds will be utilised for general corporate purposes.
About Leo Dry Fruits and Spices Trading Limited
Leo Dry Fruits and Spices Trading Limited specialises in manufacturing, processing, trading, and marketing a diverse range of spices, dry fruits, frozen products, and grocery items. Products are marketed under the brand names "VANDU" for spices and grocery items and "FRYD" for frozen and semi-fried products.
The company offers whole and blended spices, plain and flavoured dry fruits, ghee, seasonings, and other grocery items sourced from reliable suppliers. The Thane-based manufacturing unit, accredited with an FSSAI license, is strategically located near the APMC market for efficient access to raw materials.
The company caters to B2B, B2C, and D2C segments, distributing products through wholesalers, retail outlets, e-commerce platforms, and direct customer orders. It is associated with police canteens, Indian Naval Canteens, and the Canteen Store Department (CSD), ensuring quality products at affordable prices for armed forces personnel.
Leo Dry Fruits and Spices Trading Limited also serves as the exclusive distributor for "MUNCHIN" products, a range of Indian snacks and namkeen, in domestic and international markets. The company’s quality control team ensures high standards at all stages of production. Promoted by experienced leaders with decades of industry expertise, Leo Dry Fruits and Spices Trading Limited has built a reputation for excellence in providing premium-quality products.
How To Check the Allotment Status of the Leo Dry Fruits and Spices IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for an Leo Dry Fruits and Spices IPO online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Leo Dry Fruits and Spices IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Leo Dry Fruits and Spices Limited
Registered office: A 812, MIDC Khairane, Thane Belapur Rd, TTC Industrial Area, Koperkhairane, Thane, Maharashtra-400705, India
Phone: + 91 9321126141
E-mail: info@leodryfruitsandspices.com
Leo Dry Fruits and Spices IPO Reservation
|
Investor Category |
Shares Offered |
|
Anchor Investor |
13,24,000 (27.41%) |
|
Market Maker |
2,46,000 (5.09%) |
|
QIB |
9,16,000 (18.96%) |
|
NII (HNI) |
7,00,000 (14.49%) |
|
Retail |
16,44,000 (34.04%) |
|
Total |
48,30,000 (100%) |
Leo Dry Fruits and Spices IPO Anchor Investors Details
|
Bid Date |
December 31, 2024 |
|
Shares Offered |
13,24,000 |
|
Anchor Portion Size (In Cr.) |
6.88 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
February 5, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
April 6, 2025 |
Leo Dry Fruits and Spices IPO Lot Size Details
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
2,000 |
₹1,04,000 |
|
Retail (Max) |
1 |
2,000 |
₹1,04,000 |
|
HNI (Min) |
2 |
4,000 |
₹2,08,000 |
Leo Dry Fruits and Spices IPO Promoter Holding
The company's Promoters are Mr. Kaushik Sobhagchand Shah, Mr Ketan Sobhagchand Shah and Mr Parth Ashish Mehta.
|
Share Holding Pre Issue |
52.21% |
|
Share Holding Post Issue |
38.11% |
Key Performance Indicators for Leo Dry Fruits and Spices Trading Limited
As of March 31, 2024, the KPIs of Leo Dry Fruits and Spices
|
KPI |
Values |
|
ROE |
34.12% |
|
ROCE |
33.52% |
|
Debt/Equity |
0.27 |
|
RoNW |
19.58% |
|
PAT Margin |
10.68 |
|
Price to Book Value |
1.95 |
Price Metrics
|
Metric |
Pre-IPO |
Post-IPO |
|
P/E (x) |
10.23 |
14.02 |
|
EPS (₹) |
5.08 |
3.71 |
Note: The Pre-IPO EPS is derived using the pre-issue shareholding as of the RHP date and the latest FY earnings as of March 31, 2024. The Post-Issue EPS is calculated using the post-issue shareholding and annualized FY earnings as of March 31, 2024, as detailed in the RHP.
Leo Dry Fruits and Spices IPO Prospectus
Leo Dry Fruits and Spices IPO Registrar and Lead Managers
Leo Dry Fruits and Spices IPO Lead Managers
Shreni Shares Limited
Registrar for Leo Dry Fruits and Spices IPO
Bigshare Services Pvt Ltd
- Contact Number:+91-22-6263 8200
- Email Address: ipo@bigshareonline.com
Website: Leo Dry Fruits and Spices IPO Registrar
Financial Performance of Leo Dry Fruits and Spices Trading Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 6,216.59 | 3,643.96 |
| Profit After Tax (PAT) (in ₹ lakh) | 663.69 | 363.46 |
| Return on Equity (“RoE”) (%) | 34.12 | 114.23 |
| Debt-Equity Ratio (x) | 0.27 | 3.07 |
| Total Borrowings (in ₹ lakh) | 914.64 | 1537.13 |
| Return on Capital Employed (RoCE) (%) | 33.52 | 41.57 |
| EBITDA (in ₹ lakh) | 1,113.16 | 620.09 |
Know before investing
Strengths
6Experienced promoters with 26+ years in spices and dry fruits trading.
Comprehensive portfolio of spices, dry fruits, and grocery products.
FSSAI-certified manufacturing with in-house processing and hygienic storage facilities.
Catering to B2B, B2C, and D2C segments through diverse channels.
Sales generated from 7 states, including Maharashtra and Delhi in FY24.
Expanding into global markets to boost brand visibility and revenue.
Risks
6More dependence on trading activities which generated 79.15% of revenue in 2024.
Relying on third-party vendors risks delays, quality issues, and pricing.
Top 10 customers contributed 93.32% of revenue, increasing concentration risk.
Intense competition from organised and unorganised players pressures profitability.
Manufacturing unit risks include breakdowns, theft, and climate disruptions.
Reliance on third-party suppliers for some products lacks long-term contracts.
Leo Dry Fruits and Spices Trading Limited Peer Comparison
| Company Name | EPS (Basic) | NAV (per share) (₹) | RoNW (%) | Dividend Yield |
|---|---|---|---|---|
| Leo Dryfruits & Spices Trading Limited | 5.21 | 26.63 | 19.58 | - |
| Jetmall Spices and Masala Limited | 0.07 | 16.22 | 0.44 | - |
| HOAC Foods India Limited | 3.88 | 12.69 | 30.53 | - |
| Madhusudan Masala Limited | 8.27 | 35.70 | 19.97 | - |
