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

The SME segment welcomes a new player as Crazy Snacks opens its Initial Public Offering (IPO) for subscription this Thursday. Investors looking to enter the packaged snacks and bakery market can participate in this issue, which aims to raise a total of ₹31.47 crore.

IPO Structure and Pricing Details

The Crazy Snacks IPO is a combination of a fresh issue and an offer for sale (OFS). The fresh issue component consists of 60 lakh shares valued at ₹25.20 crore, while the OFS includes 14.95 lakh shares aggregating to ₹6.28 crore. The company has set the price band at ₹39 to ₹42 per share.

The subscription window is scheduled to remain open until June 30. For retail investors, the minimum lot size is set at 6,000 shares, which translates to a minimum investment of ₹2.52 lakh at the upper price limit. If the subscription proceeds as planned, the shares are expected to list on the BSE SME platform on July 3.

Market sentiment appears cautious regarding the immediate listing gains for this issue. As of the opening of the IPO, the Grey Market Premium (GMP) for Crazy Snacks was reported at zero, indicating a muted outlook for listing gains. While the company shows steady operational metrics, the lack of a premium in the grey market suggests that investors may be adopting a wait-and-watch approach.

Utilization of Funds and Business Model

The company intends to use the proceeds from the ₹25.20 crore fresh issue to bolster its operational capacity. Primary allocations include capital expenditure for new machinery, equipment, and infrastructure upgrades at its existing manufacturing facilities. Additionally, a portion of the funds will be used to repay certain borrowings and meet general corporate requirements.

Established in 1995, Crazy Snacks has built a diverse portfolio of bakery products and packaged snacks, such as namkeens, chips, popcorn, and potato sticks. The company operates through three distinct brands—Crazy, Bity, and Baked Gold—allowing it to target both affordable and premium consumer segments.

Financial Performance and Market Presence

Crazy Snacks maintains a dominant footprint in North India, specifically within Uttar Pradesh and Bihar, which accounted for over 99% of its total revenue in FY25. The company’s infrastructure includes two manufacturing facilities and a robust distribution network of over 2,000 distributors supported by a fleet of 35 delivery vehicles.

Financially, the company has demonstrated consistent growth. In FY25, Crazy Snacks reported a total income of ₹111.63 crore with a profit after tax (PAT) of ₹6.33 crore. Furthermore, for the nine-month period ending December 2025, the company posted a revenue of ₹87.56 crore and a net profit of ₹6 crore, showcasing strong mid-term momentum.

Key Takeaways

  • IPO Details: The issue is priced between ₹39–₹42 per share, seeking to raise ₹31.47 crore, with the subscription period closing on June 30.
  • Growth Strategy: Proceeds from the fresh issue will be directed toward machinery upgrades, infrastructure expansion, and debt repayment.
  • Market Position: With a strong North Indian presence and a revenue of ₹111.63 crore in FY25, the company leverages a wide distribution network of 2,000+ distributors.