Crazy Snacks Limited is launching its Initial Public Offering (IPO). It is an FMCG manufacturer known for its bakery products and snacks such as bread, cakes, and rusks.
Opening on Thursday, June 25, 2026, and closing on Tuesday, June 30, 2026, the issue aims to raise up to ₹31.47 Crores through a mix of a fresh issue and an Offer for Sale (OFS). Get details of all the IPOs of 2026 at our updated IPO section.
Operating under brand names like "Crazy" and "Baked Gold," the company serves both economy and premium segments primarily in North India. Each equity share in this issue is priced within a band of ₹39 to ₹42.
Below, you will find information on the Crazy Snacks IPO, including today's GMP, the current subscription status, allotment details, the price band, and a comprehensive review.
Briefs of Crazy Snacks IPO Details:
- Price Band: ₹39 – ₹42 per equity share
- Face Value: ₹10 per share
- IPO Open / Close Dates: June 25, 2026 – June 30, 2026
- Lot Size: 3,000 Shares (Note: Retail Minimum Application is 2 Lots / 6,000 Shares)
- Issue Size: 74,94,000 Equity Shares / ~₹31.47 Crores
- Fresh Issue: 59,99,000 Shares (~₹25.20 Cr)
- Offer for Sale (OFS): 14,95,000 Shares (~₹6.28 Cr)
- Registrar: Kfin Technologies Ltd.
- Listing Exchange: BSE SME
IPO Reservation:
- QIB Portion: Not more than 1.01% of the Net Offer.
- NII (HNI) Portion: Not less than 49.00% of the Net Offer.
- Retail (RII) Portion: Not less than 49.00% of the Net Offer.
What does the GMP for the Crazy Snacks IPO stand at Today?
Visit our GMP hub to find the current premium for this and other offerings. Also check our detailed reports on GMP in GMP vs Listing Gains May 2026 IPOs: A Data Analysis of 14 IPOs.
Investors should be aware that the Grey Market Premium (GMP) changes every day based on market sentiment. Because it is an unofficial measure, lacking regulation from SEBI, NSE, or BSE, it should never be the only criteria relied upon for investment decisions.
What is the Official Schedule of Dates and Allotment Tracking Information for the Crazy Snacks IPO?
Below is the primary timeline for the upcoming offering, intended for investors managing their capital allocation:
- IPO Open Date: Thursday, June 25, 2026
- IPO Close Date: Tuesday, June 30, 2026
- Basis of Allotment Date: Wednesday, July 1, 2026
- Refund Initiation Date: Thursday, July 2, 2026
- Credit of Shares: Thursday, July 2, 2026
- Listing Date: Friday, July 3, 2026
What Are The Objectives of Crazy Snacks IPO?
The company aims to deploy the net proceeds from the fresh issue to fund the following key initiatives:
- Capital Expenditure: ₹9.92 Crores is allocated to modernize manufacturing facilities by replacing labor-intensive equipment with automated machinery and adding 25,000 sq. ft. of production space.
- Debt Repayment: ₹5.71 Crores will be used to prepay or repay existing borrowings, aimed at reducing finance costs.
- General Corporate Purposes: The company will allocate the remaining funds to cover routine operational expenses and back key strategic initiatives.
How is The Financial Performance of Crazy Snacks?
The company's financial metrics, as detailed in the restated financial statements, are summarized in the table below.
(Figures in ₹ Crores)
Particulars | Period Ended 31 Dec 25 (9M) | FY 2024-25 | FY 2023-24 | FY 2022-23 |
Total Income | 87.56 | 111.63 | 129.08 | 89.17 |
Profit After Tax (PAT) | 6.00 | 6.33 | 5.32 | 3.54 |
EBITDA | 14.27 | 16.92 | 14.51 | 11.24 |
Total Borrowing | 69.91 | 63.26 | 45.22 | 48.01 |
Assets | 121.61 | 109.82 | 85.90 | 88.61 |
Source: RHP
Financial Analysis & Observations:
Total Income:
Total income witnessed a dip in FY25 due to decreased sales volumes, but the overall trend remains positive compared to FY23.
- Growth from FY23 (₹89.17 Cr) to FY24 (₹129.08 Cr) was robust.
- The 9-month period in FY26 shows a steady recovery run-rate at ₹87.56 Cr.
Profit After Tax (PAT):
Despite the revenue dip, PAT has grown consistently, showcasing strong cost management.
- PAT grew from ₹3.54 Cr in FY23 to ₹6.33 Cr in FY25.
- This represents an impressive 35.74% CAGR in net profitability.
EBITDA:
Operational efficiency has improved markedly, with EBITDA margins expanding significantly.
- EBITDA rose to ₹16.92 Cr in FY25.
- The margin expansion to 15.19% in FY25 indicates a favorable product mix.
Total Borrowing:
Debt levels have increased steadily to support infrastructure and capacity expansion.
- Total borrowing reached ₹69.91 Cr by December 2025.
- The IPO proceeds aimed at debt reduction will be critical here.
Assets:
The asset base has expanded consistently, reflecting the capital expenditure required in the FMCG manufacturing sector.
- Total assets grew from ₹88.61 Cr in FY23 to ₹121.61 Cr in December 2025.
- This growth supports the upcoming modernization plans.
What Are The P/E Ratio and Peer Comparison?
For a clearer understanding of the valuation, the Price-to-Earnings (P/E) ratio is analyzed at the upper price band.
- Issue Price (Upper Band): ₹42
- EPS (FY25): ₹3.53
- P/E Ratio: ~11.89x
Peer Comparison Table (FY 2024-25 Data):
Company | P/E Ratio | RoNW (%) | EPS (₹) | Total Revenue (₹ Cr) |
Crazy Snacks Limited | 11.89 | 17.26 | 3.53 | 111.38 |
Annapurna Swadisht Ltd | 24.77 | 10.26 | 7.63 | 407.97 |
Anjani Foods Ltd | 38.43 | 9.25 | 0.51 | 59.77 |
Analysis:
Crazy Snacks is entering the market at a P/E multiple of approximately 11.89x based on its FY25 EPS.
When compared to the industry average P/E of 31.60x and peers like Annapurna Swadisht (24.77x) and Anjani Foods (38.43x), the issue appears to be priced at a significant discount.
Furthermore, Crazy Snacks boasts a superior Return on Net Worth (RoNW) of 17.26%, indicating highly efficient capital utilization relative to its peers.
What is The Industry Outlook of Crazy Snacks ?
Growth Potential:
The Indian FMCG sector, specifically the packaged snacks and bakery segment, is experiencing strong growth driven by urbanization and rising disposable incomes.
Market Trends:
There is a growing consumer preference for branded, hygienic, and affordable snacks, especially in Tier-2 and Tier-3 cities, which aligns well with Crazy Snacks' target market.
What Are The Strengths and Risks of Crazy Snacks IPO?
Strengths:
- Diverse Portfolio: Offering over 290 products across various price points (₹2 to ₹170) caters to a wide demographic.
- Strong Distribution: An extensive network of over 2,000 distributors in North India ensures deep market penetration.
- Profitability Growth: Consistent PAT growth and margin expansion demonstrate strong operational control.
Risks:
- Geographic Concentration: Over 99% of revenue is derived from just two states (UP and Bihar), exposing the company to regional risks.
- Raw Material Volatility: Material costs consume over 50% of revenue; fluctuations in commodity prices can directly squeeze margins.
- High Leverage: The continuous rise in borrowings requires close monitoring, making the debt repayment objective of this IPO critical.
Key Considerations for Investors
- Minimum Application: With a defined lot size of 3,000 shares, the minimum application requirement for the retail category is two lots (6,000 shares), totaling ₹2,52,000. As this required capital goes beyond the conventional ₹2 lakh retail ceiling, it effectively positions this application category for Small-HNI investors.
- Valuation: At ~11.89x P/E, the pricing offers a deep discount to the peer average.
- Risk Profile: While highly profitable, the severe geographic concentration and increasing debt load are important factors to weigh.
Important IPO Resources:
2. IPO Allotment Status Link Intime (MUFG Intime) – Step-by-Step Guide
3. IPO Daywise Subscription Status
4. February 2026 IPO Review – 17 Listings, 21.7x Average Subscription & Market Performance
5. IPO Listing Performance Tracker 2026 – Complete Dataset of IPO Listing Gains in India
Key Takeaways
- IPO Price: ₹42 per share (Upper Band).
- Min Investment: ₹2,52,000 (6,000 Shares).
- Financials: Revenue ₹111 Cr (FY25); High RoNW (17%).
- Listing: BSE SME platform on July 3, 2026.
FAQs on Crazy Snacks IPO
What is the latest Grey Market Premium for the Crazy Snacks IPO?
The GMP moves frequently to reflect current market sentiment. To view the latest premiums, check our dedicated GMP page.
What is the designated price range for the Crazy Snacks IPO?
The price range for this offering has been set between ₹39 and ₹42 per equity share.
What is the finalized date for the share allotment of Crazy Snacks IPO?
Investors can expect the allotment results to be determined and finalized on Wednesday, July 1, 2026.
Where and how can one check the Crazy Snacks IPO allotment results?
To view the allotment status, investors may use either the BSE IPO allotment portal or the website of the issue's registrar, Kfin Technologies Ltd.
On what date is the Crazy Snacks IPO scheduled to make its market debut?
Friday, July 3, 2026, has been established as the preliminary date for the shares to debut on the market.
Investment Perspective on Crazy Snacks IPO
Crazy Snacks offers a compelling, well-priced opportunity in the regional FMCG space. While the valuation is attractive relative to peers and the return ratios are strong, investors must carefully consider the geographic concentration and the high minimum investment ticket size.
Disclaimer:
The details shared in this post are strictly educational. Prior to allocating any funds, please ensure you consult with a SEBI-registered investment advisor.
