The Shri Ahimsa Naturals IPO, structured as a Book-Built Issue, is set to open for subscription from 25 March 2025 to 27 March 2025. This offering aims to raise ₹73.81 Crores, comprising a fresh issue of 42,03,600 equity shares aggregating up to ₹50.02 Crores and an offer for sale (OFS) of 19,99,200 equity shares aggregating up to ₹23.79 Crores (face value: ₹10 each).
With a price band of between ₹113 to ₹119 per share, the IPO’s allocation strategy balances investor diversification and institutional focus:
- 35% reserved for Retail Investors
- 50% for QIBs (Qualified Institutional Buyers)
- 15% for HNIs (High Net-worth Individuals)
Financial Performance Highlights:
- Revenue decreased 25.8% to ₹78.70 crores in 2024 (from ₹106.14 crores in 2023).
- Profits declined 51.1% to ₹18.67 crores in 2024, compared to ₹38.21 crores in the previous fiscal year.
The allotment is expected to be finalized by 28 March 2025, followed by the anticipated listing on BSE SME on 2 April 2025.
Despite operational challenges, the Shri Ahimsa Naturals SME IPO positions itself as a long-term bet, targeting recovery through strategic expansion and India’s booming natural products sector. Fresh capital infusion aims to leverage rising demand for organic offerings, capitalizing on health trends and regulatory support for sustainability.
Shri Ahimsa Naturals IPO Details
| IPO Open Date: | 25 March 2025 |
| IPO Close Date: | 27 March 2025 |
| Listing Date: | 2 April 2025 |
| Face Value: | ₹10 Per Equity Share |
| IPO Issue Price: | ₹113 to ₹119 Per Share |
| Lot Size: | 1,200 Shares |
| Issue Type: | Book-Built Issue |
| IPO Listing At: | BSE SME |
| Total Issue Size: | 62,02,800 Shares (Approx ₹73.81 Cr.) |
| Fresh Issue: | 42,03,600 Shares (Approx ₹50.02 Cr.) |
| Offer for Sale: | 19,99,200 Shares (Approx ₹23.79 Cr.) |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII (HNI) Quota: | Not more than 15% |
Shri Ahimsa Naturals IPO Market Lot
The minimum market lot for the Shri Ahimsa Naturals IPO is 1,200 shares, with an application amount of ₹1,42,800.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 1,200 | ₹1,42,800 |
| Retail Maximum | 1 | 1,200 | ₹1,42,800 |
| S-HNI Minimum | 2 | 2,400 | ₹2,85,600 |
Shri Ahimsa Naturals IPO Dates
The Shri Ahimsa Naturals IPO Subscription will open on 25 March 2025 and close on 27 March 2025. Allotments will be finalized on 28 March 2025, and the shares will be listed on 2 April 2025.
| IPO Open Date: | 25 March 2025 |
| IPO Close Date: | 27 March 2025 |
| Basic of Allotment: | 28 March 2025 |
| Refund: | 1 April 2025 |
| Credit of Shares to Demat Account: | 1 April 2025 |
| IPO Listing Date: | 2 April 2025 |
Shri Ahimsa Naturals IPO Promoter Holding
The following are the promoters of the company:
- Mr. Nemi Chand Jain
- Mrs. Sumitra Jain
- Mr. Amit Kumar Jain
- Mr. Sumit Jain
- Mrs. Prerna Jain
- M/s Ahimsa Holdings Private Limited
- M/s Bimneer Investments Private Limited
| Promoter Holding Pre IPO: | 94.22% |
| Promoter Holding Post IPO: | TBA |
Note: The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
About Shri Ahimsa Naturals Limited
Established in 1990 and headquartered in Jaipur, Rajasthan, Shri Ahimsa Naturals Limited specializes in extracting and manufacturing natural products, including Caffeine Anhydrous, Green Coffee Bean Extracts (GCE), and Crude Caffeine, while trading herbal extracts. Renowned for sustainable practices, the company serves global industries such as:
- Food & Beverage (energy drinks, soft drinks)
- Nutraceuticals (dietary supplements)
- Cosmetics (skincare formulations)
- Pharmaceuticals (medicinal applications)
Key Products & Benefits
- Natural Caffeine: Sourced from coffee/tea seeds, used for energy-boosting and therapeutic applications.
- Green Coffee Bean Extract: Rich in chlorogenic acid, known for its antioxidant properties and weight management support.
Certifications & Quality
The Jaipur-based manufacturing facility adheres to global standards, including:
- ISO 9001:2015 (Quality Management)
- ISO 22000:2018 (Food Safety)
- HACCP and GMP guidelines
Global Reach
Exports to 14+ countries, including the USA, Germany, South Korea, and the UK. Export revenues reached ₹74.64 crore (FY23) and ₹99.88 crore (FY24), accounting for over 85% of total revenue.
Sustainability & Innovation
- Processes crude caffeine from coffee/tea waste since 2022.
- Sources raw materials from Vietnam and Mexico.
- Expanded product lines to include herbal extracts (2021) and GCE (2018).
Operations
- Installed capacity: 700 MTPA (Caffeine Anhydrous), 300 MTPA (GCE).
- Sources raw materials from Vietnam and Mexico; processes coffee/tea waste for Crude Caffeine since 2022.
- Employs 80+ individuals (as of March 2025).
Focused on eco-conscious practices and R&D, the company aims to strengthen its global footprint through innovation and scalable production.
Shri Ahimsa Naturals IPO SWOT
Strengths
- Experienced Leadership: Seasoned promoters and management team with decades of expertise in navigating market dynamics and fostering customer relationships.
- Advanced Manufacturing & R&D: State-of-the-art facility in Jaipur with ISO certifications and proprietary technology for sustainable, high-purity caffeine production.
- Strong Financial Health: Consistent growth in assets (₹40.34 crore in 2022 to ₹103.15 crore in 2024) and net worth (₹27.02 crore to ₹83.89 crore). Low debt (Debt/Equity ratio: 0.07).
- Profitability Metrics: Robust ROE (22.25%) and ROCE (25.69%) reflect efficient capital utilization.
- Global Demand Alignment: Rising demand for natural/organic products in nutraceuticals, cosmetics, and pharmaceuticals.
- Quality Compliance: Adherence to global standards (ISO 9001, 22000, HACCP) ensures product acceptance in 14+ countries.
- Cost Efficiency: Sustainable sourcing (coffee/tea waste) and in-house R&D drive competitive pricing against synthetic alternatives.
Risks
- Declining Revenue & Profit: Revenue fell from ₹106.14 crore (2023) to ₹78.7 crore (2024); PAT dropped from ₹38.21 crore to ₹18.67 crore.
- Raw Material Price Volatility: Crude caffeine (52.11% of production costs) faces price fluctuations, impacting margins.
- Operational Concentration: Reliance on a single Jaipur-based manufacturing unit increases vulnerability to regional disruptions.
- Regulatory & Economic Risks: Policy changes, inflation, or global trade uncertainties could affect exports (86–97% of revenue).
- Intense Competition: Growing rivalry in natural products may pressure market share and pricing.
- Logistics Dependence: Third-party transport disruptions could delay deliveries and raise costs.
- Expansion Delays: New facility setup risks cost/time overruns, affecting growth plans.
Note: Strengths highlight operational agility and financial robustness, while risks emphasize external dependencies and valuation concerns.
Conclusion
Shri Ahimsa Naturals demonstrates strengths like a skilled leadership team, advanced manufacturing, and alignment with global demand for natural products. However, risks such as declining profitability, raw material price volatility, and operational concentration require caution.
While its financial stability and certifications position it as a niche player, external factors like regulatory changes and competition could challenge growth. Investors should weigh its cost efficiency and market potential against exposure to supply chain and expansion risks.
Shri Ahimsa Naturals Limited Financial Report
In 2024, the company recorded a revenue of ₹78.7 crores, down from ₹106.14 crores in 2023, and its profit decreased to ₹18.67 crores in 2024 from ₹38.21 crores in 2023.
Amount in Crores (₹)
| Particulars | Sep 2024 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Assets | ₹111.39 | ₹103.15 | ₹74.13 | ₹40.34 |
| Revenue | ₹41.37 | ₹78.7 | ₹106.14 | ₹58.94 |
| Expenses | ₹28.20 | ₹53.39 | ₹55.34 | ₹43.18 |
| EBITDA | ₹14.39 | ₹27.42 | ₹52.46 | ₹18.13 |
| Profit After Tax (PAT) | ₹9.74 | ₹18.67 | ₹38.21 | ₹11.02 |
| Net Worth | ₹99.67 | ₹83.89 | ₹65.22 | ₹27.02 |
| Reserves and Surplus | ₹80.54 | ₹65.57 | ₹59.99 | ₹21.78 |
| Total Borrowing | ₹4.85 | ₹13.83 | ₹3.43 | ₹6.36 |
Shri Ahimsa Naturals Limited Valuation – FY2024
| KPI (Key Performance Indicator) | Values |
|---|---|
| Return on Equity (RoE): | 22.25% |
| Return on Capital Employed (RoCE): | 25.69% |
| EBITDA Margin: | 35.12% |
| PAT Margin: | 23.91% |
| Debt to equity ratio: | 0.07 |
| Return on Net Worth (RoNW): | 22.25% |
| Price to Book Value: | 2.60 |
| Pre IPO EPS (₹): | 9.76 |
| Post IPO EPS (₹): | 8.35 |
| Pre IPO P/E (x): | 12.19 |
| Post IPO P/E (x): | 14.25 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income | Financial Statements |
|---|---|---|---|---|---|---|
| NA | NA | NA | NA | NA | NA | NA |
Shri Ahimsa Naturals IPO Objectives
- Fund capital expenditure to establish a new manufacturing facility in Bagru, Jaipur.
- Fulfill working capital requirements.
- Repay/prepay outstanding company borrowings.
- Support general corporate activities.
- Cover expenses related to the IPO process.
Shri Ahimsa Naturals SME IPO Review
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Shri Ahimsa Naturals IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: info@shriahimsa.com
Website: ipo.cameoindia.com
Shri Ahimsa Naturals IPO Lead Managers
Srujan Alpha Capital Advisors Llp
Company Contact Details
Shri Ahimsa Naturals Limited
E-94, RIICO Industrial Area
Bagru, Ext.
Bagru
Phone: 0141-2202482
Email: info@shriahimsa.com
Website: naturalcaffeine.co.in
Shri Ahimsa Naturals IPO FAQs
What is the Shri Ahimsa Naturals IPO?
The Shri Ahimsa Naturals IPO is an SME listing through which the company intends to raise ₹73.81 Crores by issuing equity shares priced between ₹113 to ₹119 each share and the IPO will be listed on NSE.
When does the Shri Ahimsa Naturals IPO open for subscription?
The Shri Ahimsa Naturals IPO subscription period starts on 25 March 2025 for QIB, NII, and Retail Investors and will close on 27 March 2025.
How is the investor allocation divided in the Shri Ahimsa Naturals IPO?
The allocation is segmented as follows: 50% for QIB, 15% for NII, and 35% for Retail Investors.
How can I apply for the Shri Ahimsa Naturals IPO?
Shri Ahimsa Naturals SME IPO applications can be made online via ASBA through your bank account or UPI via your stockbroker’s platform. Alternatively, you may also apply offline by submitting a form through your stockbroker.
What is the total issue size of the Shri Ahimsa Naturals IPO?
The Shri Ahimsa Naturals IPO issue size is ₹73.81 crores.
What is the Shri Ahimsa Naturals IPO price band?
The Shri Ahimsa Naturals IPO is priced between ₹113 to ₹119 per share.
What is the minimum lot size for the Shri Ahimsa Naturals IPO?
The minimum bid requires purchasing 1,200 shares, which amounts to ₹1,42,800.
When is the Shri Ahimsa Naturals IPO allotment date?
Allotment for the Shri Ahimsa Naturals IPO is scheduled for 28 March 2025.
When will the Shri Ahimsa Naturals IPO be listed on the stock exchanges?
The Shri Ahimsa Naturals IPO will be listed on BSE on 2 April 2025.
Note: The Shri Ahimsa Naturals SME IPO price band and dates are officially announced. (The Shri Ahimsa Naturals IPO GMP details will be added to the IPO GMP page once they become available.)