Shri Ahimsa Naturals Limited, formerly known as Shri Ahimsa Mines and Minerals Ltd., is a leading player in the extraction, manufacturing, and trading of Caffeine Anhydrous Natural, Green Coffee Bean Extracts (GCE), and Crude Caffeine. The company's products cater to industries like food & beverages, nutraceuticals, cosmetics, and pharmaceuticals due to their health benefits.

AT A GLANCE
Shri Ahimsa Naturals is launching an IPO under a Book Built Issue framework, amounting to ₹ 73.81 Crores. The issue consists of a Fresh Issue of 42.03 Lakh Shares worth ₹ 50.02 Crores and an Offer for Sale of 19.92 Lakh Shares totaling ₹ 23.79 Crores. The subscription period for the IPO opens on March 25, 2025, and will close on March 27, 2025. The allotment will be finalized by March 28, 2025, with a tentative listing date on April 3, 2025, on the NSE SME platform.

PRICE BAND AND MARKET CAPITALISATION
The IPO price band is set between ₹ 113 and ₹ 119 per equity share. The market capitalization of Shri Ahimsa Naturals at the upper price band of ₹ 119 per share is ₹ 277.62 Crores. The lot size for this IPO is 1,200 shares, requiring retail investors to invest a minimum of ₹ 1,42,800, while High-Net-Worth Individuals (HNIs) are required to invest for a minimum of 2 lots, amounting to ₹ 2,85,600.

IPO MANAGEMENT
Srujan Alpha Capital Advisors LLP is the book running lead manager, while Cameo Corporate Services Limited is the registrar for the issue. Choice Equity Broking Private Limited serves as the market maker for the IPO.

GREY MARKET PREMIUM (GMP)
The Grey Market Premium (GMP) for Shri Ahimsa Naturals IPO is expected to be ₹ 0, indicating no major speculative trading as of now. It’s important to note that the GMP is purely an unorganized market indicator and should not be relied upon for making investment decisions.

LIVE SUBSCRIPTION STATUS
As of 11:00 AM on March 27, 2025, the IPO has been subscribed 6.04 times on its final day of subscription. Investors can check real-time updates on the live subscription status at NSE.

ANCHOR INVESTORS REPORT
Shri Ahimsa Naturals has raised ₹ 20.87 Crores from Anchor Investors at a price of ₹ 119 per share. A total of 17,54,400 equity shares were allocated to the Anchor Investors.

ALLOTMENT DATE AND PROCESS
The allotment date for Shri Ahimsa Naturals IPO is set for March 28, 2025. Investors can check their allotment status by visiting the registrar’s website and entering their application number, PAN, or DP Client ID. The IPO allotment status page will provide the results.

OBJECTIVES OF THE IPO
The net proceeds from the IPO will be utilized for the following purposes:

1. ₹ 3,500.00 Lakhs for investment in their Wholly-Owned Subsidiary, Shri Ahimsa Healthcare Private Limited (SAHPL), to set up a manufacturing facility at Sawarda, Jaipur, Rajasthan.

2. General Corporate Purposes.

FINANCIAL PERFORMANCE AND VALUATION
Shri Ahimsa Naturals has demonstrated consistent revenue growth. For the period ending September 30, 2024, the company reported revenue of ₹ 5,894.23 Lakhs, with a Profit After Tax (PAT) of ₹ 974.45 Lakhs. The EBITDA for the same period was ₹ 1,438.88 Lakhs. Over the past three fiscal years, the company has shown steady growth in revenue and profit, which indicates the company's solid operational performance.

KEY PERFORMANCE METRICS
The company’s pre-issue EPS stands at ₹ 10.19, with a post-issue EPS projected at ₹ 8.00 for FY24. The pre-issue P/E ratio is 11.68x, and the post-issue P/E ratio is 14.87x. These figures suggest that the IPO is fairly priced compared to industry peers, which have a higher P/E ratio.

RECOMMENDATION
Based on the current financial performance and valuation, the Shri Ahimsa Naturals IPO appears to be fairly priced. However, given the absence of any significant Grey Market Premium (GMP) and the nature of the business, we recommend that investors avoid this IPO if they are seeking listing gains. Long-term investors should carefully assess the business model and growth prospects before making any decisions.

The company’s key objectives of expanding manufacturing capabilities and the solid track record of its products in health-related industries are positive, but investors should weigh these against the overall market conditions and pricing dynamics.

The Upcoming IPOs in this week and coming weeks are Arisinfra Solutions Limited, Infonative Solutions Limited,Spinaroo Commercial Limited,Aten Papers & Foam Limited.

The Current active IPO are Retaggio Industries Limited,Identixweb Limited, ATC Energies System Limited, Shri Ahimsa Naturals Limited.

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