Crazy Snacks IPO Listing: Crazy Snacks share price made a strong debut in the Indian stock market on July 3, listing at ₹44 apiece on the BSE SME platform, a premium of 4.7% over its issue price of ₹42.
Following a positive listing, the stock extended gains to hit its day’s high of ₹46.20, surging 10% from its IPO price.
The listing outperformed Street expectations, as reflected by the grey market premium (GMP). Ahead of the listing, Crazy Snacks IPO GMP stood at ₹0 per share, indicating a likely listing price of ₹42, the same as the offer price.
Crazy Snacks IPO Subscription Status
The SME IPO was subscribed 1.20 times during the three-day bidding period. The Retail Individual Investors (RIIs) portion was subscribed 1.24 times, while the Non-Institutional Investors (NIIs) category was booked 1.08 times. The Qualified Institutional Buyers (QIBs) segment received 4.75 times subscription.
Crazy Snacks IPO Details
The initial public offering (IPO) of Crazy Snacks (Exports) Ltd. was open for subscription from June 25 to June 30, while the basis of allotment for the issue was finalised on July 1.
Crazy Snacks IPO was a book-built issue worth ₹31.47 crore. The issue comprised a fresh issue of 0.60 crore shares aggregating to ₹25.20 crore and an offer for sale (OFS) of 0.15 crore shares aggregating to ₹6.28 crore.
The company fixed the final issue price at ₹42 per share. The lot size for an application was 3,000 shares. The minimum investment required by an individual retail investor was ₹2,52,000 (6,000 shares), based on the upper price.
The company proposes to utilise the net proceeds from the issue towards funding capital expenditure requirements for the purchase of machinery, equipment and infrastructure enhancement at its existing manufacturing facility, for which it has earmarked ₹9.92 crore. It will also utilise ₹5.71 crore towards repayment and/or pre-payment, in part or full, of certain borrowings availed by the company. In addition, ₹6.27 crore will be used for general corporate purposes, while ₹4.12 crore has been allocated towards issue expenses.
Inventure Merchant Banker Services Pvt. Ltd. is the book-running lead manager to the issue, while Kfin Technologies Ltd. is the registrar. Alacrity Securities Ltd. is the market maker for the issue.
Incorporated in 1995, Crazy Snacks Limited is engaged in the production of bakery items and a diverse range of snacks, including namkeens, chips, popcorn and potato sticks.
The company markets its products under three brands — Crazy (affordable snacks and bakery items), Bity (premium cakes, breads and buns), and Baked Gold (premium cookies and rusks) — catering to varied customer preferences.
The company primarily operates in North India. It offers more than 150 products priced between ₹2 and ₹170, aiming to blend traditional and contemporary flavours to cater to various consumer preferences.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
