Sawaliya Food Products Private Limited, established in 2014, is engaged in the manufacturing, exporting, and wholesaling of dehydrated vegetables and fruits. Its product portfolio includes Dehydrated Onions, Dehydrated Carrots, Dehydrated Garlic, Dehydrated French Beans and several other processed items that are known for their rich taste and nutritional value. The company ensures that its dehydrated fruits and vegetables are hygienically packed to preserve all essential nutrients and vitamins until consumption.

IPO Structure and Details

The Sawaliya Food Products IPO is a Book Built Issue worth ₹34.83 crore.

• Fresh Issue: 26.02 lakh shares worth ₹31.23 crore.

• Offer for Sale (OFS): 3 lakh shares worth ₹3.6 crore.

The IPO will open for subscription on 7 August 2025 and close on 11 August 2025.
The basis of allotment is expected on 12 August 2025, and the tentative listing date on the NSE SME platform is 14 August 2025.

Price Band: ₹114 – ₹120 per share
Market Capitalisation at ₹120/share: ₹119.01 crore
Lot Size: 1,200 shares
Minimum Investment (Retail): 2 lots = 2,400 shares = ₹2,88,000

Lead Manager: Unistone Capital Private Limited
Registrar: Skyline Financial Services Private Limited
Market Maker: Alacrity Securities Limited

Financial Performance

The company has shown consistent growth in the last three financial years:

Key profitability metrics:

• Pre-Issue EPS: ₹9.49

• Post-Issue EPS: ₹7.00

• Pre-Issue P/E: 12.64x

• Post-Issue P/E: 17.14x

• Industry P/E: 25.40x

• ROCE (FY24): 48.96%

• ROE (FY24): 75.70%

• RoNW: 54.91%

These numbers indicate strong returns compared to many SME peers, but also show that the IPO is being priced at a level leaving limited room for immediate upside.

Grey Market Premium (GMP) Status

The Grey Market Premium for Sawaliya Food Products IPO currently stands at ₹0, indicating no buzz among unlisted market traders. This suggests low expectations for listing gains. GMP can change depending on demand and market conditions, but with no initial interest, speculative buying is unlikely before listing.

Management Strength

The promoters, Raghav Somani and Priya Somani, bring over two decades of cumulative experience in the food processing industry. They are supported by a qualified key management team with expertise in manufacturing, product development, quality control, IT, and strategic business growth.

Expert Recommendation

Despite the company’s impressive financial growth, strong ROE and ROCE, and established market presence, analysts recommend avoiding the IPO for short-term listing gains due to the absence of GMP and the IPO’s relatively fair pricing compared to peers.

However, for long-term investors interested in the food processing sector, the company’s growth track record, export potential, and strong management team could make it an attractive investment if acquired at the right valuation in the secondary market.

Disclaimer
This article is for educational and informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and consultation with SEBI-registered advisors. Market conditions are volatile and subject to change. Neither the author nor the platform is responsible for losses arising from use of this information.

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