Crazy Snacks IPO Opens Today: Price Band, Details and GMP Outlook

The SME segment sees fresh momentum as Crazy Snacks opens its highly anticipated Initial Public Offering (IPO) for subscription today. Aiming to raise ₹31.47 crore, the company seeks to strengthen its manufacturing footprint and expand its presence in the competitive packaged snacks market.

IPO Structure and Pricing Details

The Crazy Snacks IPO is a combination of a fresh issue and an offer for sale (OFS). The company is issuing 60 lakh fresh shares worth ₹25.20 crore, while existing shareholders are offering 14.95 lakh shares through the OFS, totaling ₹6.28 crore.

Investors can bid for shares within a price band of ₹39 to ₹42 per share. The subscription period remains open until June 30, with the shares expected to list on the BSE SME platform on July 3. For retail investors looking to participate, the minimum lot size is set at 6,000 shares, requiring a minimum investment of ₹2.52 lakh at the upper price band.

Utilization of Funds and Business Model

A significant portion of the capital raised through the fresh issue will be directed toward scaling operations. The company intends to use the proceeds to fund capital expenditure, specifically for upgrading machinery, equipment, and infrastructure at its existing manufacturing facilities. Additionally, the funds will be used to repay certain borrowings and support general corporate purposes.

Founded in 1995, Crazy Snacks has built a diverse portfolio in the bakery and savory snacks segment. Its product range includes namkeens, chips, popcorn, and potato sticks, marketed under three distinct brands: Crazy, Bity, and Baked Gold. These brands allow the company to cater to both budget-conscious consumers and the premium snack segment.

Financial Performance and Market Presence

Crazy Snacks maintains a dominant regional stronghold, particularly in North India. In FY25, the states of Uttar Pradesh and Bihar accounted for over 99% of the company's total revenue. The company’s operational backbone includes two manufacturing facilities and an extensive distribution network comprising over 2,000 distributors supported by a fleet of 35 delivery vehicles.

Financially, the company has demonstrated steady growth. In FY25, Crazy Snacks reported a total income of ₹111.63 crore with a profit after tax (PAT) of ₹6.33 crore. Looking at the most recent quarterly trends, for the nine months ended December 2025, the company posted a revenue of ₹87.56 crore and a net profit of ₹6 crore.

Grey Market Outlook

While the company's fundamentals show steady revenue and profit, the Grey Market Premium (GMP) currently suggests a cautious sentiment. Ahead of the official opening, the shares commanded no premium in the grey market, indicating a muted listing outlook for investors looking for immediate gains upon debut.

Key Takeaways

  • Issue Size & Band: The IPO seeks to raise ₹31.47 crore with a price band of ₹39–₹42 per share, closing on June 30.
  • Growth Strategy: Proceeds will primarily fund machinery upgrades, infrastructure expansion, and debt repayment to bolster manufacturing capacity.
  • Regional Dominance: The company holds a massive market share in North India (UP and Bihar), contributing 99% of its FY25 revenue.