Crazy Snacks IPO Day 1: Retail Investors Make a Quiet Start As ₹31.47 Crore SME Issue Opens for Subscription 

Mumbai, June 25:  Crazy Snacks Ltd. opened its initial public offering (IPO) for subscription today marking the beginning of a six-day bidding window for the ₹31.47 crore SME issue. The public offer, which will remain open until June 30, witnessed a slow start on its opening day, with only a handful of applications coming from retail investors during the early hours of bidding. 

As of 10:29 AM, exchange data showed the Crazy Snacks IPO was subscribed 0.00 times overall. Retail investors had submitted bids worth 0.01 times their reserved quota, while both Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) were yet to participate. Such a cautious opening is fairly common for SME IPOs, where subscriptions often gather pace during the final two days of the issue. 

The company is looking to raise ₹31.47 crore through a combination of a fresh issue of 56.21 lakh equity shares worth ₹25.20 crore and an offer for sale (OFS) of 14.95 lakh shares worth ₹6.28 crore. The IPO is being offered in the price band of ₹39 to ₹42 per share and will be listed on the BSE SME platform. 

Crazy Snacks IPO Day 1 Subscription Status 

The issue had received bids for only 30,000 shares against the 71.16 lakh shares available for subscription as of the latest update. 

Category-wise subscription: 

• Overall: 0.00x  
• Retail Investors: 0.01x  
• NII: 0.00x  
• bNII: 0.00x  
• sNII: 0.00x  
• QIB (Ex-Anchor): 0.00x  

The IPO had received six applications during the initial hours of Day 1, indicating investors are taking a wait-and-watch approach before making commitments. 

IPO Details 

Crazy Snacks IPO comprises 74.94 lakh equity shares, including the market maker reservation. Of the total issue: 

• Fresh Issue: 56.21 lakh shares aggregating ₹25.20 crore  

• Offer for Sale: 14.95 lakh shares aggregating ₹6.28 crore  

The net issue offered to the public consists of 71.16 lakh shares, while 3.78 lakh shares have been reserved for the market maker. 

Price Band and Minimum Investment 

The IPO has been priced between ₹39 and ₹42 per share.

Retail investors are required to apply for a minimum of 6,000 shares, translating into an investment of ₹2,52,000 at the upper price band. 

For HNI investors: 

• S-HNI: Minimum 9,000 shares worth ₹3,78,000  
• B-HNI: Minimum 24,000 shares worth ₹10,08,000  

Reservation Structure 

The issue has been allocated across investor categories as follows: 

• Retail Investors: 49.66%  
• Non-Institutional Investors (NII): 49.33%  
• Qualified Institutional Buyers (QIB): 1.01%  

Additionally, 3.78 lakh shares have been reserved for the market maker. 

Important Dates 

• IPO Opens: June 25, 2026  
• IPO Closes: June 30, 2026  
• Tentative Allotment: July 1, 2026  
• Refund Initiation: July 2, 2026  
• Credit of Shares: July 2, 2026  
• Tentative Listing: July 3, 2026  

About Crazy Snacks Ltd. 

Founded in 1995, Crazy Snacks Ltd. manufactures a wide range of packaged food products, including namkeen, potato chips, popcorn, bakery items, cookies and rusks. The company markets its products under the Crazy, Bity, and Baked Gold brands.

Its manufacturing facilities are located in Uttar Pradesh and Bihar, supported by a distribution network of more than 2,000 distributors across northern India. The company offers over 150 products catering to different consumer price segments.

Conclusion 

The opening day saw a subdued response, with retail investors accounting for the limited bids received so far. However, SME IPOs frequently witness a sharp rise in subscriptions during the final stages of the bidding period as institutional and high-net-worth investors enter the book. Market participants will closely monitor subscription trends over the coming sessions to assess overall investor appetite for the issue.  

Source: 

• https://www.chittorgarh.net/reports/ipo_notes/crazy-snacks-rhp.pdf