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Upcoming IPOs: Shivashrit Foods, Anondita Medicare among 3 SME IPOs opening on August 22; check details
4 min read | Updated on August 21, 2025, 15:10 IST
SUMMARY
Three new SME IPOs of Anondita Medicare, Shivashrit Foods and Classic Electrodes (India) are set to open for subscription to raise over ₹181 crore. August 2025 saw revival in primary markets with 11 mainboard and 17 SME IPOs raising funds from investors, while 10 more IPOs are in the pipeline.
Shivashrit Foods Limited is manufacturer, supplier and exporter of premium-grade potato flakes
Upcoming IPOs: Multiple public issues are being launched in August 2025. As many as 11 mainboard IPOs have already raised funds so far this month, while two more IPOs Vikran Engineering and Anlon Healthcare are set to open for subscription on August 26.
Around 17 Small and Medium Enterprises (SME) IPOs have also raised funds this month and eight more SME IPOs are in the pipeline. Indian IPO market is witnessing strong revival after subdued first half of the year supported by upbeat movement in the domestic markets as NIFTY reclaimed 25,100 level amid hopes of GST rate cuts and ease in global geopolitical tensions.
Three new SME IPOs of Anondita Medicare, Shivashrit Foods and Classic Electrodes (India) are set to open for subscription to raise over ₹181 crore.
Shivashrit Foods (Issue size: ₹70.03 crore)
Shivashrit Foods Limited is manufacturer, supplier and exporter of premium-grade potato flakes used in ready-to-eat meals, snack foods, and processed food products. The company’s product portfolio includes three brands, namely Shivashrit, Shreeahaar, and Flaker’s, which caters to both global and domestic food manufacturers.
The company has a fully automated potato processing and manufacturing facility at Aligarh in Western Uttar Pradesh with 8,640 MT annual capacity at 81% utilisation. In FY25, domestic sales contributed 77.75% of total revenue, while rest of the revenue came from exports, with key international markets including Israel (43.97%) and Belgium (33.41%). Meanwhile, the company derived ₹104.68 crore (99.98%) from B2B sales, while online B2C channels contributed ₹0.017 crore (0.02%) during the same period.
Financial snapshot
| (In Crs) | FY 23 | FY 24 | FY 25 |
|---|---|---|---|
| Revenue | 45.35 | 76.22 | 104.69 |
| Total Assets | 48.48 | 83.07 | 108.78 |
| PAT | 1.52 | 11.61 | 12.06 |
| EBITDA | 4.95 | 19.87 | 23.10 |
IPO objective
- Capital expenditure: The company will allocate ₹26.3 crore towards capital expenditure.
- Working capital: The company will utilise ₹19 crore towards the working capital requirements.
- General corporate purposes: Part of the IPO proceeds will be used for general corporate purposes.
Anondita Medicare (Issue size: ₹69.5 crore)
Incorporated in March 2024, Anondita Medicare Limited is a healthcare products company primarily engaged in the manufacture of male and female condoms sold under the brand “COBRA”. The company operates manufacturing facilities at Noida with an installed capacity of 5,620 lakh pieces annually, and 46.05% utilisation in FY25.
The company derived 57% of revenue from governmental procurement agencies/ AIDS prevention societies and 43% from private channels, led by its subsidiary (17.55%), stockists (14.07%), and other distributors (11.30%). In FY25, the company generated 74% of revenue from Delhi, 25% from Uttar Pradesh, and the remaining 1% from Haryana.
IPO objective
- Capital expenditure: The company will allocate ₹6 crore towards the purchase of equipment/machinery
- Working capital: The company will utilise ₹35 crore towards the working capital requirements.
- Acquisition and general corporate purposes: Part of the IPO proceeds will be used for general corporate purposes and unidentified acquisition
Financial snapshot
| (In Crs) | FY 23 | FY 24 | FY 25 |
|---|---|---|---|
| Revenue | 35.91 | 46.43 | 76.99 |
| Total Assets | 37.80 | 42.92 | 78.26 |
| PAT | 0.35 | 3.84 | 16.42 |
| EBITDA | 3.58 | 9.09 | 25.65 |
Classic Electrodes (India) (Issue size: ₹41.5 crore)
Classic Electrodes (India) Limited (CEIL), based in Hyderabad, manufactures and markets welding electrodes, offering general-purpose electrodes, low hydrogen electrodes, stainless steel, hardfacing, and speciality variants.
The company’s revenue is mainly from domestic markets (99.96% in FY25) with exports forming 0.04%, and is geographically concentrated in West Bengal and Odisha. The company derives its revenue from two key segments: manufacturing, which contributed 66.08% (Electrodes 49.25%, Mig Wire 36.54%, SS MIG 14.20% in FY25), and trading, which accounted for 33.92% through wire rod sales.
IPO objective
- Capital expenditure: The company will allocate ₹1.47 crore towards the purchase of plant and machinery.
- Repayment of loans: The company will utilise ₹10 crore towards repayment/prepayment of borrowings.
- Working capital: The company will use ₹16.6 crore towards the working capital requirements.
- General corporate purposes: Part of the IPO proceeds will be used for general corporate purposes
Financial snapshot
| (In Crs) | FY 23 | FY 24 | FY 25* (Feb) |
|---|---|---|---|
| Revenue | 150.87 | 193.82 | 187.60 |
| Total Assets | 76.19 | 88.53 | 116.34 |
| PAT | 2.08 | 12.30 | 9.57 |
| EBITDA | 8.54 | 23.03 | 19.24 |
- as of February 28, 2025
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