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

The Crazy Snacks IPO officially opens for subscription today, offering investors a chance to participate in the growth of an established snacks manufacturer. As the company seeks to expand its footprint, potential subscribers must weigh its strong regional presence against a muted grey market sentiment.

IPO Structure and Pricing Details

Crazy Snacks is looking to raise a total of ₹31.47 crore through a combination of a fresh issue and an offer for sale (OFS). The fresh issue consists of 60 lakh shares valued at ₹25.20 crore, while the OFS includes 14.95 lakh shares amounting to ₹6.28 crore.

The company has set a price band of ₹39 to ₹42 per share. For retail investors looking to participate, the minimum lot size is 6,000 shares, which translates to a minimum investment of ₹2.52 lakh at the upper price band. The subscription period will remain open until June 30, with the shares expected to list on the BSE SME platform on July 3.

Grey Market Sentiment and Listing Outlook

Ahead of the public issue, market observers have noted a muted outlook regarding the listing gains. Currently, the shares have commanded no premium in the grey market (GMP), suggesting that investors are adopting a cautious stance toward the IPO. While the company has established financial footing, the lack of a grey market premium indicates that a high listing pop may not be on the cards for this specific issue.

Business Model and Financial Performance

Founded in 1995, Crazy Snacks has built a diverse portfolio of bakery products and packaged snacks, including namkeens, chips, popcorn, and potato sticks. The company operates under three distinct brands—Crazy, Bity, and Baked Gold—catering to both affordable and premium market segments.

The company maintains a dominant presence in North India, with Uttar Pradesh and Bihar contributing over 99% of its revenue in FY25. Its operational scale 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 shows steady performance. In FY25, Crazy Snacks reported a total income of ₹111.63 crore with a profit after tax (PAT) of ₹6.33 crore. For the nine months ended December 2025, the company posted revenue of ₹87.56 crore and a net profit of ₹6 crore.

Utilization of IPO Proceeds

The capital raised through the fresh issue of ₹25.20 crore is earmarked for specific growth drivers. The primary objectives include:

  • Funding capital expenditure for new machinery, equipment, and infrastructure upgrades at existing manufacturing sites.
  • Repaying certain existing borrowings to strengthen the balance sheet.
  • Meeting general corporate purposes to facilitate operational scaling.

Key Takeaways

  • Issue Details: The IPO is priced at ₹39–₹42 per share, seeking to raise ₹31.47 crore, with a minimum retail investment of ₹2.52 lakh.
  • Market Sentiment: The Grey Market Premium (GMP) is currently at zero, indicating a cautious or muted outlook for listing gains.
  • Growth Focus: Proceeds will be used to upgrade manufacturing infrastructure and reduce debt to support the company's established North Indian distribution network.