By IPOMarket Editorial Team · Published: May 18, 2026 · Last updated: May 18, 2026
Disclaimer: This article is for informational purposes only and does not constitute investment advice. IPO investments are subject to market risks. Please read the offer document carefully and consult a SEBI-registered investment advisor before investing.
NFP Sampoorna Foods Limited opens its NSE SME IPO for subscription on May 18, 2026, marking the start of one of the most-watched SME issue weeks of May 2026. The premium dry-fruits and packaged food company is raising a fresh-issue ₹24.53 crore (44.60 lakh equity shares at a price band of ₹52-55) and is scheduled to list on NSE SME on May 25, 2026.
For retail investors evaluating the NFP Sampoorna Foods IPO, the issue stands out for two reasons: a credible 2-year financial track record with 53% revenue growth and 162% net profit growth between FY24 and FY25, and a clean fresh-issue structure with no offer-for-sale (OFS) component. Here is the complete deep-dive — business overview, IPO mechanics, financials, peer comparison, risks and the framework retail investors should apply.
About NFP Sampoorna Foods Limited
Founded: Incorporated in 2019 under the brand "NFP Sampoorna". Headquarters: Delhi NCR. Promoters: Mr. Praveen Goel, Mrs. Anju Goel and Mr. Yashvardhan Goel — together holding 99.99% pre-IPO equity.
Core business
NFP Sampoorna Foods operates in the processing, packaging, marketing and distribution of premium dry fruits and food products. The product portfolio spans:
- Dry fruits and nuts — almonds, cashews, walnuts, pistachios, raisins, dates, figs.
- Seeds and trail mixes — pumpkin seeds, chia seeds, flax seeds, premium trail combinations.
- Branded packaged SKUs — retail-format pouches sold under the company's own brands.
- Private-label / B2B supply — packaging and distribution arrangements with retail chains and institutional buyers.
The company operates in a category that has seen organised retail penetration accelerate sharply through the 2022-26 cycle — driven by health-trend tailwinds, modern trade expansion (Reliance Retail, More Retail, BigBasket, Blinkit, Zepto) and rising e-commerce share.
Three-year financial snapshot
| Period | Revenue | Net Profit (PAT) | PAT Margin |
|---|---|---|---|
| FY24 | ₹23.31 cr | ₹1.02 cr | 4.4% |
| FY25 | ₹35.76 cr (+53% YoY) | ₹2.67 cr (+162% YoY) | 7.5% |
| Q3 FY26 (3 months) | ₹18.70 cr | ₹1.08 cr | 5.8% |
The Q3 FY26 quarterly print of ₹18.70 crore on a single quarter is notable — annualised, it implies a FY26 run-rate meaningfully above FY25.
NFP Sampoorna Foods IPO Details
| Detail | Information |
|---|---|
| IPO Status | Open — Subscription window May 18-20, 2026 |
| Issue Type | 100% Book-Built Fresh Issue |
| Issue Size | ₹24.53 crore |
| Number of Shares | 44.60 lakh equity shares |
| Face Value | ₹10 per share |
| Price Band | ₹52 – ₹55 per share |
| Lot Size | 2,000 shares |
| Minimum Retail Application | ₹1,10,000 (4,000 shares — 2 lots) |
| HNI Minimum | ₹1,65,000 (3 lots / 6,000 shares) |
| Open Date | May 18, 2026 |
| Close Date | May 20, 2026 |
| Allotment Date | May 21, 2026 |
| Listing Date (tentative) | May 25, 2026 |
| Listing Exchange | NSE SME |
| Book Running Lead Manager (BRLM) | 3Dimension Capital Services Ltd. |
| Registrar | Skyline Finance Services Pvt. Ltd. |
| Live GMP | Check live IPO GMP for NFP Sampoorna Foods IPO → |
| DRHP Filed | September 29, 2025 |
The 2,000-share lot and ₹1,10,000 minimum retail ticket is structurally above mainboard ticket sizes — a reminder that SME issues require larger position commitments and reduce diversification flexibility for small portfolios.
How Will NFP Sampoorna Foods Use IPO Proceeds?
The ₹24.53 crore fresh-issue proceeds are expected to be deployed across three categories:
- Working capital — ₹14-17 crore (estimated dominant share). The dry-fruit category is working-capital intensive — premium products require multi-month inventory holding (seasonal procurement from Kashmir, California almonds, Iranian pistachios) and trade receivables run 30-60 days for organised retail.
- Capital expenditure on processing and packaging — ₹3-5 crore. Investments in automated packaging lines, quality assurance equipment, cold storage upgrades.
- General corporate purposes — balance. Brand-building, technology, working-capital cushion.
Analyst take: The fund-use plan is operationally credible for a growing SME in the dry-fruits category. Working capital is the natural priority given inventory cycle economics — and the ₹24.53 crore raise is sized to support 2-3x of current revenue run-rate.
Financial Performance & Valuation
Revenue growth — strong
NFP Sampoorna's 53% YoY revenue growth (FY24 ₹23.31 cr to FY25 ₹35.76 cr) is materially ahead of the broader packaged-foods category (~12-15% CAGR). The growth is supported by category tailwinds and the company's modern-trade and quick-commerce distribution build.
Profitability — improving
PAT margin expanded from 4.4% in FY24 to 7.5% in FY25. The expansion reflects operating leverage as fixed-cost overheads spread over a larger revenue base. For comparison, listed packaged-food peers operate at 6-12% PAT margins, suggesting NFP Sampoorna's FY25 margin is moving into the comparable-peer range.
Valuation framing
At the upper price band of ₹55 and post-issue equity of ~1.78 crore shares (estimate), implied market cap is approximately ₹97-98 crore.
- P/E (FY25 PAT): ~36-37x on FY25 earnings.
- P/S (FY25): ~2.7x on FY25 revenue.
- EV/Sales: Comparable to peers in modern-trade-aligned packaged foods.
The implied P/E is above mid-cap listed packaged-food comparables but below new-age D2C food brands. For an SME issue in a growth-stage category, the valuation appears full but not excessive.
Peer comparison (illustrative)
| Company | Category | FY25 P/E | Listed |
|---|---|---|---|
| Nestle India | FMCG packaged foods | 65-75x | Yes (NSE) |
| Britannia Industries | Biscuits + packaged | 50-55x | Yes (NSE) |
| Bikaji Foods | Snacks | 55-65x | Yes (NSE) |
| Avanti Feeds | Aquaculture / agri | 15-18x | Yes (NSE) |
| NFP Sampoorna Foods | Premium dry fruits | ~37x | NSE SME IPO |
Industry Outlook — India Dry Fruits Market
India's packaged dry-fruits market is one of the fastest-growing organised food retail categories:
- Total market size (FY26): ₹35,000+ crore (organised + unorganised), with organised share at ~25% and rising.
- Growth driver — health and wellness trend. Indian consumers increasingly substituting traditional Indian sweets and processed snacks with branded dry fruits.
- Quick commerce share rising sharply. Blinkit, Zepto, Instamart and BigBasket have emerged as 15-20% category growth contributors for premium dry-fruit brands.
- Gifting category tailwind. Diwali, Raksha Bandhan, corporate gifting drives 30-35% of category revenue.
- Import dependency. Premium varieties (California almonds, Iranian pistachios, Turkish hazelnuts) carry FX/import-duty exposure.
NFP Sampoorna's positioning in the premium segment captures the gifting + modern-trade tailwinds — but also concentrates exposure to imported raw materials.
Key Risks to Consider
- Raw-material concentration. Premium dry fruits are largely imported — FX moves and import-duty changes directly impact gross margins.
- Working capital intensity. Inventory-heavy business with seasonal procurement; any liquidity disruption tightens the operating cycle.
- Brand competition. Established brands (Nutraj, Happilo, Tata Sampann, Yogabar) and private labels (BBdaily, Tata 1mg) crowd the shelf — premium positioning requires continued brand investment.
- SME platform liquidity. Post-listing daily volumes on NSE SME are structurally lower than mainboard — exit liquidity is constrained until eventual mainboard migration (typically 2-3 years post SME listing).
- Promoter holding concentration. Pre-IPO promoter holding is 99.99%, diluting post-IPO to a still-dominant majority. Low public float caps liquidity in early trading.
Should You Apply for NFP Sampoorna Foods IPO?
Bull case
- Strong 2-year revenue (+53%) and PAT (+162%) growth.
- Margin expansion trajectory (4.4% → 7.5% PAT margin).
- Category tailwinds — premium dry fruits compounding at 18-22%.
- Quick commerce distribution build providing structural advantage.
- 100% fresh issue — no promoter cash-out at IPO; proceeds fund operations.
Bear case
- SME platform liquidity is structurally lower.
- ~37x FY25 P/E leaves limited margin of safety on multiple compression.
- Working-capital-intensive business model amplifies funding pressure if growth slows.
- Imported raw material FX exposure.
- High lot-size (₹1,10,000 minimum) restricts position sizing.
Who this IPO suits
- SME-focused retail investors with risk appetite for early-stage growth stories may consider NFP Sampoorna as a sized position (1-2% of portfolio max).
- Long-term investors who believe in the premium dry-fruit consumption thesis may hold for SME-to-mainboard migration as the longer-term re-rating catalyst.
- Listing-day flippers should monitor the live IPO GMP signal in the final 24 hours of subscription — for SME issues, late-stage GMP is the most reliable indicator of listing-day positioning.
Closing Takeaways
- ₹24.53 crore NSE SME IPO opens May 18, 2026; price band ₹52-55; listing May 25, 2026.
- 100% fresh issue, no OFS — clean fund-use structure.
- FY25 revenue ₹35.76 cr (+53% YoY) and PAT ₹2.67 cr (+162% YoY).
- Promoter holding 99.99% pre-IPO; significant majority retained post-listing.
- BRLM: 3Dimension Capital Services; Registrar: Skyline Finance Services.
Track GMP, allotment and listing-day performance on our IPO allotment page and live GMP page. Compare with other SME issues opening this week on the upcoming IPOs in 2026 tracker. For another SME issue opening days later in the same window, see our Vegorama Punjabi Angithi SME IPO review.
Frequently Asked Questions
When does the NFP Sampoorna Foods IPO open? The IPO opens for subscription on May 18, 2026 and closes on May 20, 2026. Listing on NSE SME is tentatively May 25, 2026.
What is the NFP Sampoorna Foods IPO price band? The price band is ₹52-55 per share with a face value of ₹10 per share.
What is the lot size and minimum investment? Lot size is 2,000 shares and minimum retail application is ₹1,10,000 (2 lots / 4,000 shares).
What is the total IPO size? The issue size is ₹24.53 crore comprising 44.60 lakh equity shares — 100% fresh issue, no OFS component.
Who are the promoters? Mr. Praveen Goel, Mrs. Anju Goel and Mr. Yashvardhan Goel — together holding 99.99% of pre-IPO equity.
On which exchange will NFP Sampoorna Foods list? The company will list on the NSE SME platform (not the mainboard NSE).
Who is the lead manager? 3Dimension Capital Services Ltd. is the book-running lead manager. Skyline Finance Services Pvt. Ltd. is the registrar.
When was the DRHP filed? September 29, 2025 — with the price band and final issue size confirmed via the RHP for the May 18 launch.
What is NFP Sampoorna Foods's annual revenue? FY25 revenue was ₹35.76 crore (up 53% YoY from ₹23.31 crore in FY24). Net profit grew 162% YoY to ₹2.67 crore.
How does the company differentiate vs other dry-fruit brands? NFP Sampoorna positions in the premium dry-fruits segment with distribution across modern trade, quick commerce (Blinkit, Zepto, Instamart) and traditional channels — captured by category-tailwind in gifting and health-trend consumption.
Is this a profitable company? Yes. PAT margin expanded from 4.4% in FY24 to 7.5% in FY25 on operating leverage — moving toward the listed packaged-food peer benchmark of 6-12%.
What is the IPO P/E? At the upper price band of ₹55, implied P/E is ~37x on FY25 earnings. Above mid-cap listed peer median but below new-age D2C food brand multiples.
Last reviewed: May 18, 2026 by IPOMarket Editorial Team.