Leo Dryfruits & Spices Limited is set to make its debut in the IPO market with an exciting offering from January 1 to January 3, 2025. The company, known for its diverse range of products under the brands VANDU and FRYD, is a prominent name in the manufacturing, trading, and marketing of spices, dry fruits, frozen food, and grocery items. With its IPO, Leo Dryfruits aims to raise INR 24.63–25.12 crore to expand its business and solidify its market presence.
Diverse Product Portfolio
Under the VANDU brand, Leo Dryfruits offers an extensive range of spices like chilli flakes, garlic powder, black salt, and asafoetida, alongside dry fruits, pulses, and seeds like fennel, fenugreek, and sesame. The company also markets frozen and semi-fried items under the FRYD brand. To enhance its offerings, Leo Dryfruits recently added ghee to its product line, further enriching its portfolio.
In addition to its flagship brands, the company acts as an anchor distributor for Campa Cola soft drinks and maintains partnerships with key organizations, including Police Canteens, CSD (Canteen Store Department), and the Indian Naval Canteen. It also supplies products to Kendra Police Kalyan Bhandar (KPKB).
IPO Details
- Price Band: INR 51–52 per share
- Fresh Issue: 48,30,000 shares
- Total IPO Size: INR 24.63–25.12 crore
- Lot Size: 2,000 shares (minimum investment of INR 1,04,000)
- Listing Platform: BSE SME
- Retail Allocation: 35%
The IPO proceeds will be used to enhance the company’s operations, which currently include a manufacturing unit in Thane, Maharashtra, employing 45 permanent staff members as of June 30, 2024.
Strong Financial Growth
Leo Dryfruits has demonstrated remarkable growth over the past three financial years:
- Revenue: Grew from INR 5.27 crore in FY 2022 to INR 62.17 crore in FY 2024.
- Net Income: Increased from INR 0.08 crore in FY 2022 to INR 6.64 crore in FY 2024.
Key financial metrics further underscore the company’s strong performance, including a steady rise in EPS and a sharp reduction in its debt-to-equity ratio from 4.40 in FY 2022 to just 0.27 in FY 2024.
Key Dates to Remember
- IPO Opening Date: January 1, 2025
- IPO Closing Date: January 3, 2025
- Allotment Finalization: January 6, 2025
- Listing Date: January 8, 2025
Promoters and Key Stakeholders
The company is led by Mr. Kaushik Sobhagchand Shah, Mr. Ketan Sobhagchand Shah, and Mr. Parth Ashish Mehta. The offer is managed by Shreni Shares Limited, while Bigshare Services Private Limited serves as the registrar.
With its strong financial performance, a growing portfolio of high-demand products, and robust distribution partnerships, Leo Dryfruits IPO presents an enticing opportunity for investors. The competitive pricing and focus on sustained growth make it a notable contender in the SME IPO segment.
Disclaimer: Investors are advised to review the company’s prospectus and consider their financial goals before investing.
