Leo Dry Fruits and Spices IPO

NiftyTrader • January 1, 2025

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Leo Dry Fruits and Spices IPO bidding opened for subscription on January 1, 2025 and will close on January 3, 2025. The allotment for the Leo Dry Fruits and Spices IPO is expected to be finalized on Monday, January 6, 2025. Leo Dry Fruits and Spices IPO will list on BSE SME with tentative listing date fixed as Wednesday, January 8, 2025.

Leo Dry Fruits and Spices IPO price band is set at ₹51 to ₹52 per share. The minimum lot size for an application is 2000. The minimum amount of investment required by retail investors is ₹1,04,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹2,08,000.

Leo Dry Fruits and Spices IPO is a book built issue of Rs 25.12 crores. The issue is entirely a fresh issue of 48.30 lakh shares.

Leo Dry Fruits and Spices IPO Details

IPO Date	January 1, 2025 to January 3, 2025
Listing Date	[.]
Face Value	₹10 per share
Price	₹51 to ₹52 per share
Lot Size	2,000 Shares
Total Issue Size	48,30,000 shares (aggregating up to ₹25.12 Cr)
Fresh Issue	48,30,000 shares (aggregating up to ₹25.12 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE SME
Shareholding pre-issue	1,30,61,440 shares
Share holding post issue	1,78,91,440 shares
Market Maker Portion	2,46,000 shares

Leo Dry Fruits and Spices IPO Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	2000	₹1,04,000
Retail (Max)	1	2000	₹1,04,000
S-HNI (Min)	2	4000	₹2,08,000

Leo Dry Fruits and Spices IPO Objectives

The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:

Funding working capital requirements of the company;
Branding, Advertisement and Marketing activities;
General corporate purposes

About Leo Dry Fruits and Spices Trading

Incorporated in November 2019, Leo Dryfruits & Spices Trading specializes in manufacturing and trading a variety of spices and dry fruits under the brand VANDU as well as frozen and semi-fried products under “FRYD. The company supplies whole and blended spices, roasted and flavoured dry fruits, ghee, seasonings, and other grocery items in various packaging sizes.

The company’s business is divided into two verticals:-

Trading of Products
Manufacturing and Processing of Spices

The company’s manufacturing unit is situated in Thane, Maharastra.

The company operates in three segments: B2B, B2C, and D2C.

In the B2B segment, the company wholesales whole spices and dry fruits in bulk to traders for unbranded resale
In the B2C segment, the company sells its products as whole spices, blended spices, dry fruits, and groceries under VANDU through distributors, super stockists, e-commerce platforms like Amazon and Flipkart, and its website.
In the D2C segment, they sell directly to customers through its website and online channel partners such as Amazon, Flipkart etc.

As of September 30, 2024, the Company had approximately 46 permanent employees at various levels.

Competitive Strength:

Wide spread customer base across various segments.
Experienced promoters and management team
Diversified product portfolio
In house manufacturing and processing capabilities
Increased brand equity over the years.

Company Financials

Leo Dry Fruits and Spices Trading Financial Information

Period Ended	30 Sep 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	6,988.78	5,234.95	2,664.01	1,198.64
Revenue	1,788.24	6,226.51	3,646.83	526.54
Profit After Tax	187.18	663.69	363.46	7.9
Net Worth	3,577.44	3,390.26	499.91	136.45
Reserves and Surplus	2,271.29	2,084.12	370.41	6.95
Total Borrowing	1,670.06	914.64	1,537.13	601
				Amount in ₹ Lakhs

Leo Dry Fruits and Spices IPO Reservation

Leo Dry Fruits and Spices IPO offers 48,30,000 shares. 9,16,000 (18.96%) to QIB, 7,00,000 (14.49%) to NII, 16,44,000 (34.04%) to RII and 13,24,000 (27.41%) to Anchor investors.

Investor Category	Shares Offered
Anchor Investor Shares Offered	13,24,000 (27.41%)
Market Maker Shares Offered	2,46,000 (5.09%)
QIB Shares Offered	9,16,000 (18.96%)
NII (HNI) Shares Offered	7,00,000 (14.49%)
Retail Shares Offered	16,44,000 (34.04%)
Total Shares Offered	48,30,000 (100%)

Leo Dry Fruits and Spices IPO Timeline (Tentative Schedule)

Leo Dry Fruits and Spices IPO opens on January 1, 2025, and closes on January 3, 2025.

IPO Open Date	Wednesday, January 1, 2025
IPO Close Date	Friday, January 3, 2025
Basis of Allotment	Monday, January 6, 2025
Initiation of Refunds	Tuesday, January 7, 2025
A credit of Shares to Demat	Tuesday, January 7, 2025
Listing Date	Wednesday, January 8, 2025
Cut-off time for UPI mandate confirmation	5 PM on January 3, 2025