Crazy Snacks IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 4.75x |
| NII | 1.08x |
| Retail (RII) | 1.26x |
| Total | 1.21x |
Bidding day 6 · final figures at close of bidding: 15 Jul 2026, 12:00 am IST
IPO Details
- Open Date
- 25 Jun 2026
- Close Date
- 30 Jun 2026
- Listing Date
- 3 Jul 2026
- Face Value
- ₹10
- Fresh Issue
- ₹23.61 Cr
- OFS
- ₹6.28 Cr
- Listing On
- BSE
- Registrar
- —
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 6,000 | ₹2,52,000 |
| HNI (Min) | 3 | 9,000 | ₹3,78,000 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| QIB (ex-anchor) | 72,000 | 1.01% |
| NII | 35,10,000 | 49.33% |
| — sNII (< ₹10L) | 11,70,000 | 16.44% |
| — bNII (> ₹10L) | 23,40,000 | 32.88% |
| Retail | 35,34,000 | 49.66% |
| Total | 71,16,000 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|
| FY 2023 | 89.17 | 3.54 | 26.43 | 88.61 | 48.01 | — |
| FY 2024 | 129.08 | 5.32 | 31.25 | 85.9 | 45.22 | — |
| FY 2025 | 111.63 | 6.33 | 36.82 | 109.82 | 63.26 | — |
| Dec 2025 (interim) | 87.56 | 6 | 42.82 | 121.61 | 69.91 | 3.53 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March. Interim periods cover part of a year and are not comparable to the full-year rows.
KPIs & Valuation
- P/E (pre-issue)
- 11.9x
- P/E (post-issue)
- 12.57x
- RoNW
- 14.01%
- RoE
- 15%
- RoCE
- 10.04%
- Debt / Equity
- 1.63
- EPS (pre-issue)
- ₹3.53
- EPS (post-issue)
- ₹3.34
- P/BV
- 2.05x
- NAV / share
- ₹0.02
- Market Cap
- ₹100.54 Cr
As of 31 Dec 2025 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Funding capital expenditure requirements towards purchase of machinery, equipments and infrastructure enhancement in the existing manufacturing facility | ₹9.92 Cr |
| Repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company | ₹5.71 Cr |
| General Corporate Purposes | ₹6.27 Cr |
| Issue Expenses | ₹4.12 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Book Running Lead Manager’s fees | ₹0.5 Cr |
| Selling, Marketing and Underwriting Fees | ₹3.14 Cr |
| Fees payable to Market Maker to the Issue | ₹0.06 Cr |
| Fees payable to Registrar to the Issue | ₹0.02 Cr |
| Fees payable for Advertising and Publishing expenses | ₹0.1 Cr |
| Fees payable to Regulators including Stock Exchanges & Depositories | ₹0.1 Cr |
| Payment for Printing & Stationery, Postage, etc. | ₹0.04 Cr |
| Fees payable to Statutory Auditor, Legal Advisors and other Professionals | ₹0.07 Cr |
| Others | ₹0.1 Cr |
Promoters & Shareholding
Promoters: Navin Kumar Agarwal and Upma Agrawal
- Holding (pre-issue)
- 76.14%
- Holding (post-issue)
- 50.85%
- Dilution
- 25.29%
Documents
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Crazy Snacks | 2.96 | 17.35 | — | 17.08% | — | — |
| Anjani Foods Ltd | 0.48 | 5.15 | 67.9x | 8.53% | 5.8x | Consolidated |
| Annapurna Swadisht Limited | 7.63 | 61.48 | 48.86x | 11.46% | — | Consolidated |
Peer group as disclosed in the offer document, figures as of 28 Mar 2024. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the Crazy Snacks IPO
The Crazy Snacks SME IPO is open between 25 Jun 2026 and 30 Jun 2026, offered at a price band of ₹39–42 per share, and is set to list on BSE. The IPO seeks to raise ₹31.47 crore. Retail investors bid in lots of 3000 shares, a minimum application of ₹2,52,000.
Issue structure
The offer combines a fresh issue of ₹23.61 crore with an offer for sale (OFS) of ₹6.28 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward funding capital expenditure requirements towards purchase of machinery, equipments and infrastructure enhancement in the existing manufacturing facility (₹9.92 crore), alongside general corporate purposes (₹6.27 crore). In all, 4 objects are disclosed — the full break-up is in the table above.
Financials
In FY2025, Crazy Snacks reported revenue of ₹87.56 crore and a net profit of ₹6 crore. Revenue declined from ₹89.17 crore in FY2023 to ₹87.56 crore in FY2025 (-2.0%). Net worth stood at ₹42.82 crore at the end of FY2025. At the upper band, that puts the issue at roughly 11.9× FY2025 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 12.57× post-issue earnings and 2.05× book value, against a return on net worth of 14.01% and a debt-to-equity ratio of 1.63. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Anjani Foods Ltd and Annapurna Swadisht Limited, with a median peer P/E of about 58.4×. The issue's own post-issue P/E works out to 12.57×.
Promoters
The promoters of the company are Navin Kumar Agarwal and Upma Agrawal. Promoter holding stands at 76.14% before the issue and comes down to 50.85% after listing.
Grey market premium (GMP)
In the unofficial grey market, Crazy Snacks shares are quoted at a premium of ₹0 implying an expected listing around ₹42, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Crazy Snacks IPO was subscribed 1.21 times overall. The strongest demand came from qualified institutional buyers (QIB) at 4.75 times, with non-institutional investors (NII) at 1.08× and retail investors at 1.26×.
Listing performance
Crazy Snacks listed on 3 Jul 2026 at ₹44, a premium of +4.8% over the issue price of ₹42.
What to weigh
When evaluating the Crazy Snacks IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Crazy Snacks
Incorporated in 1995, Crazy Snacks Limited is engaged in the production of bakery items and a diverse range of snacks, including namkeens, chips, popcorn, and potato sticks. The company offers products under three brands: Crazy (affordable snacks and bakery items), Bity (premium cakes, breads, and buns), and Baked Gold (premium cookies and rusks), catering to varied customer preferences. The company primarily operates in North India. the company offers over 140 products priced between ₹2 and ₹150, aiming to blend traditional and contemporary flavors to cater to various consumer preferences. The company operates primarily in Uttar Pradesh and Bihar, contributing 97% of its revenue. It has two manufacturing facilities and a distribution network of 999 distributors and 35 vehicles across North India. Product Portfolio: Rusks, Cookies, Breads & Buns, Cakes, Chips, and Namkeen. As of November 30, 2024, the company employs a total of 225 individuals. Competitive Strengths: Diverse Product Portfolio Quality Control Inclusive offerings across all price segments In-House Packaging and Distribution
Crazy Snacks — Contact Details
- Registered office
- Shri Pramodaay Bhawan, 10 Park Road Officers, Residence Lane, Near Sahara Press, Gorakhpur, Uttar Pradesh, 273001
- Phone
- +91 98380-76426
- Website
- crazy.org.in/
- Registrar (IPO queries)
- csl.ipo@kfintech.com
Frequently asked questions
- What is the Crazy Snacks IPO price band?
- The Crazy Snacks IPO price band is ₹39 to ₹42 per share, with a lot size of 3000 shares.
- What was the Crazy Snacks IPO GMP before listing?
- The final grey market premium recorded before the Crazy Snacks IPO listed was ₹0. The IPO listed on 3 Jul 2026 at ₹44, +4.8% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Crazy Snacks IPO open and close?
- The Crazy Snacks IPO opens on 25 Jun 2026 and closes on 30 Jun 2026.
- When is the Crazy Snacks IPO allotment and listing date?
- Allotment is expected on 1 Jul 2026. The shares are scheduled to list on 3 Jul 2026 on BSE.
- How many times was the Crazy Snacks IPO subscribed?
- The Crazy Snacks IPO was subscribed 1.21 times in total across all investor categories.
- What is the reservation split in the Crazy Snacks IPO?
- Of the total shares offered, retail investors get 49.66%, QIBs 1.01%, non-institutional investors 49.33%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Crazy Snacks and what is their holding?
- The promoters are Navin Kumar Agarwal and Upma Agrawal. Promoter holding is 76.14% before the issue and 50.85% after listing.
- What is the P/E ratio of the Crazy Snacks IPO?
- At the upper price band, the Crazy Snacks IPO is valued at 11.9× pre-issue earnings and 12.57× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Crazy Snacks IPO?
- The net proceeds go primarily toward funding capital expenditure requirements towards purchase of machinery, equipments and infrastructure enhancement in the existing manufacturing facility, among 4 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Crazy Snacks IPO?
- The book-running lead manager is Inventure Merchant Banker Services Pvt.Ltd..
- Is Crazy Snacks a Mainboard or SME IPO?
- Crazy Snacks is an SME IPO, listing on BSE (SME platform).