DSM Fresh Foods lists 20% above IPO issue price, defying grey market forecasts
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Shares of DSM Fresh Foods, the company behind meat delivery startup Zappfresh, made a strong debut on the BSE SME platform on Thursday, listing at Rs 120 apiece, a 20% premium over the IPO price of Rs 100. The sharp jump has surprised market watchers, as the grey market had shown zero premium ahead of listing. IPO Details and Subscription DSM Fresh Foods had launched its IPO to raise over Rs 59 crore entirely through a fresh issue of shares, with a price band of Rs 95–100 apiece. Investors could bid for a minimum of 1,200 shares, requiring an investment of Rs 1.20 lakh per lot, and in multiples thereafter. The IPO saw decent interest during its three-day public bidding, which ran from 26 September to 6 October. Non-Institutional Investors (NII) showed the strongest demand, subscribing their portion nearly twice, while Qualified Institutional Buyers (QIB) subscribed over 1.5 times their reserved quota. Retail investors nearly fully subscri...