India, Sept. 16 -- A day after filing its red herring prospectus (RHP), meat delivery startup Zappfresh has set a price band of INR 96 to INR 101 per share for its SME initial public offering (IPO) that will open for subscription on September 26 and close on September 30.

Anchor investor bidding will take place on September 25.

Investors will have to bid for a minimum of 2 lots of 1,200 equity shares each and in multiples of 1,200 equity shares thereafter.

The IPO will solely consist of a fresh issue of up to 59.06 Lakh shares. At the upper end of the IPO price band, Zappfresh will raise INR 59.65 Cr from the IPO and will be valued at around INR 225 Cr (about $25.4 Mn).

Of the total issue, 3.31 Lakh shares will be reserved for subscri...