𝗭𝗮𝗽𝗽𝗳𝗿𝗲𝘀𝗵 𝗦𝗵𝗮𝗿𝗲𝘀 𝗠𝗮𝗸𝗲 𝗣𝘂𝗯𝗹𝗶𝗰 𝗠𝗮𝗿𝗸𝗲𝘁 𝗗𝗲𝗯𝘂𝘁 𝗮𝘁 𝟮𝟬% 𝗣𝗿𝗲𝗺𝗶𝘂𝗺

Zappfresh , the D2C meat delivery brand under DSM Fresh Foods Ltd, made a solid debut on the BSE SME platform, listing at ₹120 per share, a 20% premium over the issue price of ₹100. The stock later hit the upper circuit limit of ₹126, reflecting strong investor confidence. Zappfresh was co-founded in 2015 by Deepanshu Manchanda and Shruti Gochhwal

Key Highlight

𝗢𝘃𝗲𝗿𝘀𝘂𝗯𝘀𝗰𝗿𝗶𝗽𝘁𝗶𝗼𝗻: The IPO was 1.36x oversubscribed, with bids for 53.12 lakh shares against 39.08 lakh on offer.

𝗠𝗮𝗿𝗸𝗲𝘁 𝗖𝗮𝗽𝗶𝘁𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻: At listing, the company’s market cap stood at approximately ₹267.45 crore (~$30 million).

𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝘀: In FY25, Zappfresh reported a 94% increase in profit, reaching ₹9.1 crore, and operating revenue of ₹130.7 crore, up 45% from the previous year.

𝗘𝘅𝗽𝗮𝗻𝘀𝗶𝗼𝗻: The company has expanded from B2C to B2B, with B2B revenue contributing ₹36.7 crore in FY25.

𝗪𝗵𝘆 𝗜𝘁 𝗠𝗮𝘁𝘁𝗲𝗿𝘀?

Zappfresh’s successful IPO debut underscores the growing investor interest in D2C food brands and quick commerce models in India. The company’s strong financial performance and strategic expansion into B2B segments position it well for sustained growth in the competitive food delivery market.

At Startup Veda, we track how emerging brands are navigating the IPO landscape and what their market performance signals for the future of Indian startups. Follow us for more insights.