Shri Ahimsa Naturals IPO is a book-built issue valued at ₹73.81 crore. It is a combination of a fresh issue of 42.04 lakh shares aggregating to ₹50.02 crores and an offer for sale of 19.99 lakh shares aggregating to ₹23.79 crores. It opens for subscription today on March 25, 2025, and is closing soon on March 27, 2025. The allotment is expected to be finalised on March 28, 2025, with a tentative listing date of April 2, 2025, on the NSE SME platform.
The IPO price is set at a price band of ₹113 - ₹119 per share. Retail investors need a minimum investment of ₹1,42,800 for one lot of 1200 Shares, while HNI investors must invest in at least 2 lots, amounting to ₹2,85,600.
Srujan Alpha Capital Advisors LLP is the book-running lead manager for this issue, while Cameo Corporate Services Limited serves as the registrar. Choice Equity Broking Private Limited is the market maker.
For detailed financial and operational information, investors can refer to the Shri Ahimsa Naturals IPO RHP. This IPO presents an opportunity to invest in a growing enterprise listed on the NSE SME platform.
Industry Outlook
- India’s FMCG sector is undergoing a major shift, with legacy brands like Johnson & Johnson and Hindustan Unilever now competing with fast-growing digital-first companies such as Mamaearth and The Moms Co. These new entrants have quickly reached ₹100 crore in revenue, driven by rising demand for natural and clean-label wellness products.
- The government has allowed 100% FDI in food processing and single-brand retail, and 51% in multi-brand retail. This policy support has strengthened supply chains and enabled the launch of more functional, health-focused FMCG products across India.
- Rural India contributes over 40% of FMCG revenue, with companies like Dabur and HUL generating a significant share of domestic sales from non-urban markets. Key categories such as personal care, beverages, and fabric care are seeing strong demand in rural areas, while urban growth is led by skincare and hygiene.
- The rise of e-commerce, fuelled by mobile internet access, is formalising the unorganised retail sector and expanding its reach. Online channels are projected to account for 11% of total FMCG sales by 2030, especially in fast-growing Tier-2 and Tier-3 cities like Jaipur and Surat.
Shri Ahimsa Naturals IPO Objectives
The company proposes to utilise the net proceeds from the IPO for the following objectives:
- To fund capital expenditure for setting up a new manufacturing facility at Bagru, Jaipur.
- To meet the working capital requirements of the company.
- To repay or prepay certain borrowings availed by the company.
- To cover general corporate purposes.
- To meet issue-related expenses.
About Shri Ahimsa Naturals Limited
Shri Ahimsa Naturals Limited was originally incorporated as Shri Ahimsa Mines and Minerals Limited on October 17, 1990, under the Companies Act, 1956. It was later renamed Shri Ahimsa Naturals Limited on January 17, 2022, reflecting its transition into the natural products and wellness segment.
The company operates in the botanical extracts and wellness ingredients sector, primarily focused on the manufacturing and marketing of caffeine and natural extracts. Its flagship products include green coffee beans, green tea extracts, and guarana-based caffeine solutions, catering to both domestic and international nutraceutical and beverage markets.
Shri Ahimsa Naturals specialises in producing plant-based, non-synthetic caffeine using clean and sustainable processes. It serves a wide range of industries including functional beverages, sports nutrition, personal care, and pharmaceutical formulations.
With an emphasis on purity, traceability, and environmentally conscious sourcing, the company has positioned itself as a premium supplier of natural caffeine extracts. Through its IPO, Shri Ahimsa Naturals aims to expand its manufacturing capabilities, strengthen its working capital base, and scale up R&D for product innovation.
How To Check the Allotment Status of the Shri Ahimsa Naturals 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 Shri Ahimsa Naturals 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 Shri Ahimsa Naturals 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 Shri Ahimsa Naturals IPO
Registered office: E-94, RIICO Industrial Area, Bagru, Ext. Bagru – 303007, Jaipur, Rajasthan, India.
Phone: +91 141-2202482
E-mail: info@shriahimsa.com
Shri Ahimsa Naturals IPO Reservation
|
Investor Category |
Shares Offered |
|
Anchor Investor Shares Offered |
17,54,400 (28.28%) |
|
Market Maker Shares Offered |
3,12,000 (5.03%) |
|
QIB Shares Offered |
11,70,000 (18.86%) |
|
NII (HNI) Shares Offered |
8,84,400 (14.26%) |
|
Retail Shares Offered |
20,82,000 (33.57%) |
|
Total Shares Offered |
62,02,800 (100%) |
Shri Ahimsa Naturals IPO Anchor Investors Details
|
Bid Date |
March 24, 2025 |
|
Shares Offered |
17,54,400 |
|
Anchor Portion Size (In Cr.) |
20.88 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
April 27, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
June 26, 2025 |
Shri Ahimsa Naturals IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
1200 |
₹1,42,800 |
|
Retail (Max) |
1 |
1200 |
₹1,42,800 |
|
HNI (Min) |
2 |
2400 |
₹2,85,600 |
Shri Ahimsa Naturals IPO Promoter Holding
The Promoters of the company are Mr Nemi Chand Jain, Mrs Sumitra Jain, Mr Amit Kumar Jain, Mr Sumit Jain, Mrs Prerna Jain, M/s Ahimsa Holdings Private Limited and M/s Bimneer Investments Private Limited.
|
Share Holding Pre-Issue |
94.22% |
|
Share Holding Post Issue |
- |
Key Performance Indicators for Shri Ahimsa Naturals IPO
As of March 31, 2024, the market capitalisation of Shri Ahimsa Naturals's IPO is ₹277.63 crore. Here are the KPIs of Shri Ahimsa Naturals:
|
KPI |
Value |
|
EBITDA Margin (%) |
35.12 |
|
Net Profit Margin (%) |
23.91 |
|
Net Debt / EBITDA (%) |
21.29 |
|
Return on Capital Employed (%) |
25.69 |
Price Metrics
|
Metric |
Pre-IPO |
Post-IPO |
|
EPS (₹) |
9.76 |
8.35 |
|
P/E (x) |
12.19 |
14.25 |
Note: The Pre IPO EPS is calculated based on pre-issue shareholding as of the date of RHP and the latest FY earnings as of March 31, 2024, that is available in RHP.
The post-issue EPS is calculated based on the post-issue shareholding and annualised FY earnings of September 30, 2024, that are available in RHP.
Shri Ahimsa Naturals IPO Prospectus
Shri Ahimsa Naturals IPO Registrar and Lead Managers
Shri Ahimsa Naturals IPO Lead Managers
- Srujan Alpha Capital Advisors LLP
Registrar for Shri Ahimsa Naturals IPO
Cameo Corporate Services Limited
- Contact Number: +91-44-28460390
- Email Address: info@shriahimsa.com
Shri Ahimsa Naturals IPO Registrar
Financial Performance of Shri Ahimsa Naturals Limited
| Particulars | Year ending on March 31, 2024on March 31, 2022 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| EBITDA (₹ in lakhs) | 2,742.21 | 5,246.20 1,812.69 | 1,812.69 |
| Net Profit after tax (₹ in lakhs) | 1,866.73 | 3,820.8 | 1,102.15 |
| EBITDA Margin % | 35.12 | 50.38 | 31.23 |
| Net Profit Margin % | 23.91 | 36.69 | 18.99 |
| Return on Net Worth % | 22.25 | 58.58 | 40.80 |
| Return on Capital Employed % | 25.69 | 72.46 | 48.83 |
| Net Debt / EBITDA % | 21.29 | (11.69) | 20.49 |
Know before investing
Strengths
8The company operates in a niche segment focused on natural caffeine, catering to the growing global demand for clean-label and plant-based ingredients.
Its products meet food and pharmaceutical standards set by regulators in multiple countries, enabling entry into diverse international markets.
Shri Ahimsa Naturals has developed a proprietary process to manufacture high-purity caffeine (≥99%) using sustainable sources like coffee waste.
Its manufacturing process enables cost efficiency and environmental compliance, providing a competitive edge over synthetic caffeine producers.
The company is expanding its supplier base to improve raw material availability and reduce dependency on limited sources.
This strategy helps strengthen margins, improve procurement flexibility, and enhance supply chain resilience.
It plans to scale operations by increasing sales volume and entering new geographies, both domestic and international.
The focus on operational expansion and market penetration is expected to boost profitability and market share.
Risks
8The company relies on a single manufacturing facility in Jaipur, Rajasthan, which exposes it to regional operational risks and natural disruptions.
Any malfunction or breakdown in manufacturing equipment could lead to production halts and increased repair costs.
The proposed manufacturing facility is also based in Jaipur, increasing location concentration risk.
Disruptions in power supply or labour availability may affect production continuity and delay deliveries to clients.
The company’s operations depend on uninterrupted access to electricity, currently sourced from local utilities.
Though backup generators are available, extended outages or fuel unavailability could impact output.
Leasehold rights for the industrial plot are subject to compliance with RIICO terms and conditions.
Any non-compliance or legacy dues from the previous allottees may trigger legal or financial liabilities.
