India, Sept. 30 -- Meat delivery company Zappfresh's initial public offering (IPO) has been extended to October 6 (Monday) after the issue was undersubscribed.

Zappfresh parent DSM Foods has also reduced its BSE SME IPO price band to INR 95-100 from INR 96-101.

As a result, the company would be raising INR 59.1 Cr at the higher end of this price band. The fundraise will be at a valuation of around INR 223 Cr.

While the IPO was originally slated to end on September 30, the extension has come because the Zappfresh issue received bids for 22.44 Lakh shares against 42.39 Lakh shares on offer. This translates to a 52% subscription.

Zappfresh tweaked its pricing and extended the window for subscriptions after receiving muted interest from i...