In 2025, India’s SME IPO segment continues to attract strong interest, with consumer and food-focused companies coming to the market to fund capacity expansion and brand building. Within this backdrop, Mother Nutri Foods Ltd is set to open its IPO on November 26, 2025, giving investors an opportunity to participate in the growth of a niche B2B peanut butter manufacturer with rising domestic and export presence.
Here is a detailed look at Mother Nutri Foods Limited, its IPO structure, and the business outlook.
About Mother Nutri Foods Ltd.
Incorporated in 2022, Mother Nutri Foods Limited is a B2B peanut butter manufacturer offering more than 10 flavours and over 5 variants of peanut butter.
Key business highlights
- The company markets products under its own brand “Spread & Eat”, which is sold in international markets such as Libya, Dubai and Japan.
- Along with its own brand, it is heavily focused on private labelling for domestic and international clients, supplying hypermarkets, supermarkets and retail chains.
- Its private label customer base spans multiple countries, including the United Kingdom, Canada, South Africa, Mauritius, Russia, Spain, UAE, Saudi Arabia, Nepal, Bangladesh, Mexico, USA, Oman, Germany, Portugal and others.
- Mother Nutri Foods operates a single manufacturing facility at Mahuva, Bhavnagar, Gujarat, which is a key peanut-growing region, aiding raw material sourcing.
- As of July 31, 2025, the company employs 41 personnel, including its directors.
Mother Nutri Foods IPO Details
With the IPO launch, Mother Nutri Foods Ltd. plans to use a significant portion of the proceeds to set up a new manufacturing facility at Mahuva, Bhavnagar in Gujarat, while the remaining funds will go towards general corporate purposes, supporting its expansion and growth plans.
Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. is the book running lead manager, and Bigshare Services Pvt. Ltd. is the registrar of the issue. The Market Maker of the company is Mansi Share & Stock Broking Pvt. Ltd.
Important IPO Timeline
| Event | Date |
| IPO Open Date | November 26, 2025 |
| IPO Close Date | November 28, 2025 |
| Tentative Allotment | December 1, 2025 |
| Initiation of Refunds | December 2, 2025 |
| Credit of Shares to Demat | December 2, 2025 |
| Tentative Listing Date | December 3, 2025 |
| Cut off time for UPI mandate confirmation | 5 PM on November 28, 2025 |
Key IPO Details
Here is the table on the Mother Nutri Foods IPO review:
| IPO Date | November 26, 2025, to November 28, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹111 to ₹117 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 33,84,000 shares (aggregating up to ₹39.59 Cr) |
| Reserved for Market Maker | 2,43,600 shares (aggregating up to ₹2.85 Cr) Mansi Share & Stock Broking Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) |
24,63,600 shares (aggregating up to ₹28.82 Cr) |
| Offer for Sale | 6,76,800 shares of ₹10 (aggregating up to ₹7.92 Cr) |
| Net Offered to Public | 31,40,400 shares (aggregating up to ₹36.74 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 98,27,820 shares |
| Share Holding Post Issue | 1,25,35,020 shares |
Mother Nutri Foods IPO Reservation
Mother Nutri Foods IPO offers a total of 33,84,000 shares.
| Investor Category | Shares Offered | Percentage of Issue |
| Market Maker | 2,43,600 | 7.20% |
| QIB | 15,69,600 | 46.38% |
| NII (HNI) | 4,71,600 | 13.94% |
| Retail (RII) | 10,99,200 | 32.48% |
| Total | 33,84,000 | 100.00% |
Anchor Investor Details
Mother Nutri Foods IPO has raised ₹10.99 crore from anchor investors.
| Particulars | Details |
| Anchor Bid Date | November 25, 2025 |
| Anchor Shares Offered | 9,39,600 |
| Anchor Portion Size | ₹10.99 Cr |
| Lock in end date for 50 percent shares (30 days) | December 31, 2025 |
| Lock in end date for remaining shares (90 days) | March 1, 2026 |
Lot Size of Mother Nutri Foods IPO
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereafter.
Here is the table of lot sizes for each category of investors:
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,80,800 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,80,800 |
| S HNI (Min) | 3 | 3,600 | ₹4,21,200 |
| S HNI (Max) | 7 | 8,400 | ₹9,82,800 |
| B HNI (Min) | 8 | 9,600 | ₹11,23,200 |
Mother Nutri Foods IPO Promoter Holding
The promoters of the company are Chintan Rajnikant Thakar, Umeshbhai Kantilal Sheth, Rajnikant Indubhai Thakar, Parth Umeshkumar Sheth, Naynaben Rajnikant Thakar and Vandnaben U Sheth.
| Pre Issue | Post Issue | |
| Promoter Holding | 90.98% | 65.93% |
Mother Nutri Foods Ltd. Financials
Mother Nutri Foods Ltd. has reported growth in revenue and profits over the reported periods. Revenue increased by 12% and profit after tax (PAT) rose by 35% between FY24 and FY25.
Key Company Financials
Amount in ₹ Crore
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 83.67 | 70.86 | 47.78 | 43.99 |
| Total Income | 50.47 | 90.48 | 81.05 | 76.26 |
| Profit After Tax | 5.32 | 6.47 | 4.77 | 1.13 |
| EBITDA | 7.44 | 10.22 | 8.48 | 2.92 |
| Net Worth | 30.45 | 24.89 | 10.44 | 5.66 |
| Reserves and Surplus | 20.54 | 19.90 | 5.90 | 1.13 |
| Total Borrowing | 30.53 | 22.81 | 25.43 | 23.37 |
Key Performance Indicators (KPI)
As of March 31, 2025:
| KPI | Values |
| ROE | 36.64% |
| ROCE | 20.63% |
| RoNW | 26% |
| PAT Margin | 7.17% |
| EBITDA Margin | 11.32% |
| Price to Book Value | 2.30 |
| Market Capitalisation | ₹146.66 Cr |
Earnings and valuation
| Pre IPO | Post IPO | |
| EPS (₹) | 6.58 | 8.48 |
| P E (x) | 17.77 | 13.80 |
Objects of the Mother Nutri Foods IPO
The company proposes to utilise the net proceeds from the issue towards the following objects:
| S No. | Objects of the Issue | Expected Amount (₹ in crores) |
| 1 | Setting up a new manufacturing facility at Mahuva, Bhavnagar, Gujarat | 23.19 |
| 2 | General corporate purposes | Balance |
Mother Nutri Foods Ltd.: Industry Outlook
- Growing demand for protein-rich foods
Peanut butter is increasingly viewed as a convenient, protein-rich spread, supported by rising health awareness and lifestyle changes, especially among younger and urban consumers. - Rise of private label and contract manufacturing
Large retail chains and global buyers are expanding their private label offerings. Mother Nutri Foods, with more than 97 percent average revenue from private labelling, is well placed to benefit from this trend. - Export opportunities
The company already exports to multiple countries across North America, Europe, Africa and Asia, which provides geographic diversification and access to higher value markets. - Category premiumisation
Multiple flavours and variants enable premium positioning and higher realisations compared to basic commodity peanut products.
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Conclusion
Mother Nutri Foods Ltd. presents an interesting opportunity in the value-added food processing and peanut butter segment, driven by its B2B private label model, expanding export footprint and plans for a new manufacturing facility in Gujarat. The company has shown steady growth in revenue and a sharper rise in profitability, along with healthy return ratios.
At the same time, investors should be mindful of risks such as its heavy reliance on private label clients, sensitivity to agri commodity price movements, and the fact that recent profit growth has been relatively sharp compared to earlier years. As highlighted in the external review, the issue appears fully priced, so it may suit well-informed investors with a medium to long-term horizon who are comfortable with SME IPO risk and sector-specific dynamics.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.