The IPO comprises the issue of 43.22 lakh Equity Shares (Face Value Rs 10/-) through the book-building route. The Company has appointed Corporate Capital Ventures Private Limited as the Lead Manager for the issue. Skyline Financial Service Private Limited has been appointed Registrar to the issue.
The proceeds of the IPO will be used by the company for funding its growth plans – including setting up additional manufacturing units in West Bengal and expanding the product range to eastern and north-eastern states in the country.
“Annapurna Swadisht” started operations in 2016. It operates over 35 SKUs ranging from extruded snacks to pellet-based snacks to potato snacks to namkeens to candies and cakes. Led by Shreeram Bagla, Co-founder and Chairman, the company has two manufacturing facilities in West Bengal.
It sells its sweet and savoury packaged snack products at a price point of Re. 1.00 to Rs. 5.00 across Bihar, Jharkhand, West Bengal, Odisha, and Assam. It currently has around 400 distributors. In June 2022, 'Annapurna Swadisht' reported monthly sales of INR 11.05 crore (USD 1.4mn) and, at present, has a team of 235 employees. The company recently forayed into the Direct-to-Customer (D2C) segment with the Olonkar range of products and has tied up with Big Basket for distribution.
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