Shivashrit Foods, a potato flakes manufacturer based in Aligarh will debut on NSE Emerge on Monday (September 1, 2025) after raising ₹70.03 crore through its initial public offering (IPO). 

The company is entering its next growth phase with an expansion plan aimed at building scale and tapping into rising demand for processed foods, it said.

The IPO comprised a ₹61.29 crore fresh issue and an ₹8.75 crore offer for sale. 

The proceeds will be used for capacity expansion, working capital and general corporate purposes. 

About ₹26.3 crore has been earmarked for new production lines, a dedicated potato flakes unit and investments in utilities such as solar-powered generators. 

Another ₹19 crore will go towards working capital to support execution of contracts, while the balance is reserved for general corporate needs and issue expenses.

The company reported revenues of ₹105.85 crore in FY25, up 36% YoY. Profit after tax improved to ₹12.06 crore.

The company which supplies to snack manufacturers recently forayed into the retail segment with its Shree Aahar brand.

Potato flakes, a critical ingredient for snacks, ready-to-eat meals and bakery products, are seeing accelerated adoption.

“Our association with leading food giants such as Haldiram’s, ITC and Balaji Wafers underlines the trust in Shivashrit’s quality and consistency. The IPO gives us the resources to scale capacity, diversify our portfolio and strengthen our position as a reliable partner to India’s food processing ecosystem,” said Nishant Singhal, Managing Director, Shivashrit Foods.

With a clear expansion strategy and established demand drivers, the company is positioning itself as a long-term growth story in India’s food processing sector, he added.