Decoding the Mother Nutri Foods IPO: Your Comprehensive Guide to This SME Listing
A deep dive into the upcoming SME offering, from financials to investment logistics.
Introduction: Peanuts to Public Markets
The Indian SME segment continues to buzz with activity, bringing exciting opportunities for investors looking beyond the mainboard listings. Up next is Mother Nutri Foods Ltd., a B2B manufacturer specializing in a versatile product range. Before you decide whether to place a bid, it is crucial to dissect every aspect of this upcoming Initial Public Offering (IPO). This detailed analysis aims to consolidate all necessary data—financial health, issue structure, and key timelines—to help you make an informed investment choice.
Company Profile and Business Snapshot
Established in 2022, Mother Nutri Foods has carved a niche for itself as a dedicated B2B supplier in the food manufacturing sector, primarily focusing on peanut butter. Here's what defines their operations:
- **Core Business:** Manufacturing over 10 flavors and 5 variants of peanut butter.
- **Branding:** Markets its products domestically and internationally under the brand name “Spread & Eat.”
- **Global Reach:** Exports products to several countries, including Libya, Dubai, and Japan.
- **Private Labeling:** A significant part of their business involves private labeling for major hypermarkets, supermarkets, and retail chains across continents like the UK, Canada, Germany, and the USA.
- **Infrastructure:** Operates a single manufacturing facility located in Mahuva, Bhavnagar, Gujarat.
- **Team Size (as of July 31, 2025):** Employs 41 personnel, including their directorial board.
Mother Nutri Foods SME IPO: The Offering Details
This is a book-building issue structured as a combination of a Fresh Issue (raising primary capital) and an Offer for Sale (allowing existing shareholders to partially divest). The total issue size is substantial for an SME listing.
| Component | Value |
|---|---|
| Total Issue Size (Aggregating) | ₹39.59 Crores |
| Fresh Issue Amount | ₹31.67 Crores (0.27 Crore Shares) |
| Offer for Sale Amount | ₹7.92 Crores (0.07 Crore Shares) |
| Face Value Per Share | ₹10.00 |
| Price Band | ₹111.00 to ₹117.00 |
| Listing Platform | BSE SME |
IPO Timeline: Key Dates to Remember
Mark your calendars! Timeliness is critical when participating in an IPO subscription.
Subscription Progress Bar (Illustrative)
(Subscription data would update live here)
| Milestone | Date |
|---|---|
| IPO Opens | Wednesday, November 26, 2025 |
| IPO Closes | Friday, November 28, 2025 |
| Allotment Finalization | Monday, December 1, 2025 |
| Credit of Shares to Demat | Tuesday, December 2, 2025 |
| Tentative Listing Date (BSE SME) | Wednesday, December 3, 2025 |
Investment Lots and Retail Limits
Investment in SME IPOs is restricted by lot size. For Mother Nutri Foods, the minimum application requires subscribing to 2 lots.
| Investor Type | Lots | Shares | Investment Amount (Max Price) |
|---|---|---|---|
| Retail Investor (Minimum/Maximum) | 2 | 2,400 | ₹2,80,800.00 |
| HNI (S-HNI Minimum) | 3 | 3,600 | ₹4,21,200.00 |
Understanding the Investor Allocation Strategy
The IPO allocation is structured to balance institutional interest with participation from retail and non-institutional investors (NIIs).
| Investor Category | Shares Allotted | Percentage (%) |
|---|---|---|
| Qualified Institutional Buyers (QIB) | 15,69,600 | 46.38% |
| Non-Institutional Investors (NII) | 4,71,600 | 13.94% |
| Retail Individual Investors (RII) | 10,99,200 | 32.48% |
| Market Maker Reservation | 2,43,600 | 7.20% |
Anchor Investor Information
The IPO successfully secured pre-commitment from anchor investors, raising approximately ₹10.99 crores, indicating early institutional confidence. The anchor bidding occurred on November 25, 2025.
- **Anchor Allocation Size:** 9,39,600 shares, raising ₹10.99 Crore.
- **Lock-in Period (50% Shares):** Ends on December 31, 2025 (30 days).
- **Lock-in Period (Remaining Shares):** Ends on March 1, 2026 (90 days).
Financial Health Check and Valuation Metrics
Analyzing the restated financial data provides insights into the company's growth trajectory and efficiency leading up to the listing.
| Metric | 31 Mar '23 | 31 Mar '24 | 31 Mar '25 | 30 Sep '25 (Interim) |
|---|---|---|---|---|
| Total Income | 76.26 | 81.05 | 90.48 | 50.47 |
| Profit After Tax (PAT) | 1.13 | 4.77 | 6.47 | 5.32 |
| Total Borrowing | 23.37 | 25.43 | 22.81 | 30.53 |
The data shows healthy growth, with PAT increasing significantly from FY23 to FY25, and the interim result for Sep 2025 indicating strong profitability relative to the prior year's corresponding period.
Valuation Ratios (Pre and Post Issue)
| Metric | Pre IPO (EPS / P/E) | Post IPO (EPS / P/E) |
|---|---|---|
| EPS (Rs) | 6.58 | 8.48 |
| P/E Ratio (x) | 17.77 | 13.80 |
The post-issue P/E ratio appears potentially attractive compared to the pre-issue calculation, suggesting the expanded equity base results in a relatively lower earnings multiple based on the latest full-year earnings.
Foundational Strength: Promoters and Objectives
The promoter group plays a vital role in determining the long-term vision of the company.
| Holding Stage | Percentage (%) |
|---|---|
| Pre-Issue Promoter Holding | 90.98% |
| Post-Issue Promoter Holding | 65.93% |
The primary promoters include Chintan Rajnikant Thakar, Umeshbhai Kantilal Sheth, Rajnikant Indubhai Thakar, and others.
IPO Proceeds Utilization
The capital raised through the Fresh Issue is earmarked for specific growth initiatives:
| Object | Amount (₹ Cr) |
|---|---|
| Setting up a new manufacturing facility (Mahuva, Gujarat) | 23.19 |
| General Corporate Purposes | (Balance) |
SWOT Assessment for Mother Nutri Foods
A balanced view requires assessing internal capabilities against external market factors.
| Factor | Description |
|---|---|
| Strengths | Strong B2B foundation with established international private labeling contracts across numerous countries. Demonstrable growth in PAT. |
| Weaknesses | Relatively young company (incorporated in 2022). Operations centralized in a single manufacturing unit in Gujarat. |
| Opportunities | The funds raised are earmarked for capacity expansion, allowing the company to capture greater market share in the growing peanut butter segment. |
| Threats | Volatility in raw material (peanut) prices. Dependence on international supply chains and fluctuating currency rates given export focus. |
Logistical Details for Application
Knowing who manages the process and where to seek assistance is vital.
- **Book Running Lead Manager (BRLM):** Marwadi Chandarana Intermediaries Brokers Pvt.Ltd.
- **IPO Registrar:** Bigshare Services Pvt.Ltd. (This entity handles allotment and refunds.)
- **Market Maker:** Mansi Share & Stock Broking Pvt.Ltd.
Applying via Popular Discount Brokers (General Guidance)
For those looking to apply through popular discount brokerage platforms, the mechanism generally involves using either ASBA (through net banking) or UPI mandates offered by the broker.
For example, customers utilizing a platform like Zerodha would typically follow these steps:
- Log in to the broker's online portal (e.g., Console).
- Navigate to the IPO section.
- Select the 'Mother Nutri Foods IPO' and enter the bid details (price, quantity).
- Confirm the application using the linked UPI application to authorize the payment mandate before the UPI cutoff time.
Similar application processes are standard across major brokers offering online IPO subscriptions.
Company Contact Information
Should you require official correspondence or specific documentation details:
| Item | Details |
|---|---|
| Address | Survey No 276/1, Opp. Petrol Pump Mahuva-Bhavnagar Road, At Otha, Mahuva, Bhavnagar, Gujarat, 364295 |
| Contact Number | 99744 14123 |
| cs@mothernutrifoods.com |
Conclusion: Navigating the Mother Nutri Foods Opportunity
The Mother Nutri Foods IPO presents a chance to invest in a specialized B2B food manufacturer with significant international exposure and planned capacity expansion. Its strong interim financial performance coupled with an SME listing structure (which often targets higher growth potential) makes it noteworthy. Investors should carefully weigh the valuation (P/E of 13.8x post-issue) against the company's reliance on specific manufacturing capabilities and raw material sourcing. Thorough review of the Draft Red Herring Prospectus (DRHP) for granular risk factors remains the cornerstone of any final investment decision.