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D2C Meat Delivery Startup Files for DHRP for BSE SME Listing Zappfesh, a D2C meat delivery has filed for its Draft Red Herring Prospectus (DHRP) for listing on BSE SME.

By Entrepreneur Staff

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Deepanshu Manchanda, founder of Zappfresh

Zappfesh, a D2C meat delivery has filed for its Draft Red Herring Prospectus (DHRP) for listing on BSE SME

The startup already marked profitable, has recently demonstrated robust growth. The initial public offering (IPO) will consist of a fresh issue of 59.06 lakh equity shares with a face value of INR 10 and will not consist of an offer for sale (OFS) component.

Zappfresh said in a press release that the proceeds from the fundraiser will be used for growth initiatives like unidentified acquisitions, marketing and capex enhancements, working capital optimization, and other general corporate purposes. Narnolia Financial Services Ltd. has been appointed as the Book Running Lead Manager (BRLM) for the IPO

The meat delivery venture is the first of its kind to aim for a listing, boosted by the resilience and adaptability shown during the COVID-19 pandemic.

Deepanshu Manchanda, founder of Zappfresh said, "We are proud to take this monumental step towards listing on the BSE SME platform, which testifies to our unwavering dedication to transparency, accountability, and growth. As we remain committed to delivering exceptional quality, convenience, and value to our customers while creating sustainable stakeholder value."

Zappfresh's investors include SIDBI, Amit Burman Family Office, Hindustan Times, Unity Bank, Lets Venture, Ah! Ventures, Keritsu Forum, Heifer Impact, and other promoters who hold a total of 40 per cent stake in the company.

The company has recently expanded its operations to Mumbai and Bengaluru and has also acquired Bonsaro and Dr. Meat helping its product range and market presence. According to Zappfresh, it is also in the advanced stages of launching its business in the Middle East. The D2C meat delivery startup achieved an EBITDA of INR 7.6 crore and a revenue of INR 90 crores in FY 2023-24.

Entrepreneur Staff

Entrepreneur Staff

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