Shares of BSE SME-listed Leo Dryfruits have surged 45 percent since their IPO, currently trading at ₹75.40 against the issue price of ₹52. The stock was listed in January 2025 and has steadily gained investor attention due to robust market performance and strong business developments. The ₹25.12 crore SME IPO was fully issued as 48.30 lakh fresh equity shares and attracted overwhelming interest across investor segments, marking a successful debut for the company in the SME platform.
IPO Performance and Subscription
The IPO, open for subscription between January 1 and January 3, 2025, in the price band of ₹51–52 per share, witnessed exceptional subscription levels. The issue was subscribed 181.77 times in total, with non-institutional and retail investor portions subscribed 394 times and 154 times, respectively. Qualified institutional buyers (QIBs) subscribed their portion 68 times, according to exchange data. The strong subscription underscores the high investor confidence in Leo Dryfruits’ growth prospects and market positioning at the time of listing.
Stock Price Trend
Following its listing, the SME stock has shown significant upward momentum, hitting a record high of ₹91 in June 2025, though it currently trades about 17 percent below this peak. It recorded a 52-week low of ₹52 in January 2025, coinciding with its listing.
The stock had a mixed performance over the months: it rose 2 percent in March, 2.5 percent in April, 35 percent in May, and 0.6 percent in June, before falling 1.3 percent in July. In August, it has inched up just 0.5 percent so far. These fluctuations reflect both market volatility and investor recalibration while the stock consolidates its gains.
Recent Developments
Earlier this month, Leo Dryfruits announced a major government-linked supply contract with Kendriya Police Kalyan Bhandar (KPKB), part of India’s Ministry of Home Affairs. The agreement involves supplying whole spices, blended spices, dry fruits, ghee, and namkeen, valued at an estimated ₹25–30 crore over the contract period.
Execution of the contract will be handled by the promoter group firm M/s J Ketankumar Co., the proprietorship of the company’s Whole Time Director and CFO, Ketan Sobhagchand Shah. This firm will serve as the company’s sole agent for procurement, marketing, sales, and order fulfilment for KPKB-related requirements across India.
About Leo Dryfruits
Leo Dryfruits is engaged in the manufacturing, processing, trading, and marketing of a wide array of spices, dry fruits, and grocery products. The company markets its products under the brand “VANDU” for spices and dry fruits and “FRYD” for frozen and semi-fried products. Its portfolio includes whole and blended spices, plain, roasted, and flavored dry fruits, ghee, seasoning products, chiz bites, poppy seeds, sesame seeds, and other grocery items in multiple packaging formats. The company continues to expand its product range and strengthen its supply chain, catering to both retail and institutional clients.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
