Pajson Agro India Subscription
Last updated on 15-Dec-2025 17:05:03
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 1182000 | 12907200 | 10.92 |
| HNIs | 900000 | 6177600 | 6.86 |
| bHNI | 600000 | 4635600 | 7.73 |
| sHNI | 300000 | 1542000 | 5.14 |
| Individual | 2097600 | 8085600 | 3.85 |
| Total | 4179600 | 27170400 | 6.5 |
Application-Wise Breakup  | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 167 | 434 | 2.6 |
| HNIs (3-10L) | 83 | 412 | 4.96 |
| Individual | 874 | 3369 | 3.85 |
| QIB Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹1.7 | @8% ₹2 | @9% ₹2.2 | @10% ₹2.5 | @11% ₹2.7 | @12% ₹3 |
Pajson Agro India Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| bHNI | 8 | 9600 | 1132800 | 167 |
Pajson Agro India Reservation
| Category | Shares Offered | % |
|---|---|---|
| Anchor | 1772400 | 28.09% |
| QIB | 1182000 | 18.73% |
| HNI | 900000 | 14.26% |
| INDIVIDUAL | 2097600 | 33.24% |
| Market Maker | 357600 | 5.67% |
| Total | 6309600 | 100% |
Pajson Agro India About
IPO Details
| Total Issue Size | 63,09,600 shares (aggregating up to ₹74.45 Cr) |
| Fresh Issue | 63,09,600 shares (aggregating up to ₹74.45 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,74,99,995 shares |
| Share Holding Post Issue | 2,38,09,595 shares |
| Reserved for Market Maker | 3,57,600 shares (aggregating up to ₹4.22 Cr) |
| Market Maker | Giriraj Stock Broking Pvt.Ltd. |
Key Performance Indicators (KPI)
| KPI | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| ROCE | 20.14% | 48.21% | 12.18% | 0.81% |
| ROE | 27.67% | 60.05% | 15.16% | 0.08% |
| Debt/ Equity | 0.69 | 0.33 | 0.61 | 0 |
| P/E PRE IPO | 10.11 | |||
| P/E POST IPO | 9.9 |
Company Financial (In ₹Crore)
| Period Ended | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Assets | 151.63 | 65.73 | 55.39 | 50.17 |
| Total Income | 118.37 | 187.28 | 96.04 | 101.13 |
| Profit After Tax | 14.2 | 20.42 | 3.35 | 0.02 |
| EBITDA | 21.07 | 30.27 | 5.74 | 1.1 |
| NET Worth | 58.4 | 44.21 | 23.79 | 20.44 |
| Reserves and Surplus | 40.9 | 40.71 | 20.29 | 16.94 |
| Total Borrowing | 40.04 | 14.57 | 14.57 | 0 |
Peer Comparison (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| Pajson Agro India Limited | 10.11 | 10.00 | |
| Krishival Foods Limited | 78.39 | 476.60 | 10.00 |
| Prospect Consumer Products Limited | 17.00 | 71.21 | 10.00 |
| Aelea Commodities Limited | 292.98 | 167.00 | 10.00 |
Peer Comparison (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Pajson Agro India Limited | 25.26 | 46.18 | 11.67 |
| Krishival Foods Limited | 63.55 | 9.56 | 6.08 |
| Prospect Consumer Products Limited | 44.98 | 8.95 | 4.19 |
| Aelea Commodities Limited | 50.21 | 1.13 | 0.57 |
About Company
Incorporated in 2021, Pajson Agro India is engaged in processing raw cashew nuts into cashew kernels, supplying them to both domestic and international markets. The company sells its products in bulk as well as in retail packs under its white-label dry fruits brand Royal Mewa. In addition to cashew kernels, it also sells by-products such as cashew husk and shells, which are used in industrial and agricultural applications.
Sales & Distribution Model:
The company operates through four sales verticals:
- Wholesale Mandis (local agricultural markets)
- Institutional Sales (retail chains, food brands, etc.)
- Exports
- B2C retail under the Royal Mewa brand
Pajson Agro currently has a presence in 18 states and 3 Union Territories across India.
Manufacturing Infrastructure:
The company operates a cashew processing facility located in Visakhapatnam, Anakapalli, Andhra Pradesh, spread over 295,990.20 sq. ft. with an annual processing capacity of 18,000 MT. The facility includes dedicated shelling, peeling, cleaning, grading, and sorting units, along with an in-house packaging unit to support retail and bulk supply operations.
Strength
In-House Packaging Capability: The company operates an in-house packaging unit in Delhi, equipped to handle all post-processing requirements for its B2C brand “Royal Mewa,” ensuring efficiency, consistency, and quality control.
Experienced Promoters with Strong Industry Network: The company is led by promoters with over 35 years of combined experience in agricultural commodities, sourcing, and distribution. Their industry relationships and market insights enable effective resource management and business expansion.
Diversified Customer Base: The company serves wholesale mandis, institutional buyers, and retail consumers through its “Royal Mewa” brand, providing revenue stability and reducing market risk. Entry into kernel exports has further expanded its customer reach internationally.
Weakness
Limited Operating History: The company began operations in 2021, making it difficult to assess long-term performance, stability, and future growth prospects.
High Geographic Revenue Concentration: A significant share of revenue comes from a few regions—Delhi, Andhra Pradesh, and Rajasthan. Any negative developments in these areas may adversely impact overall revenue and financial results.
Dependence on a Single Operating Region for Processing: All existing and proposed processing facilities are located in Andhra Pradesh. Any disruption—such as equipment failure, power issues, natural disasters, or operational shutdowns—could severely affect production, cash flows, and future expansion plans.
Pajson Agro India Lead Manager(s)
Pajson Agro India Address
510, 5th Floor, Pearl Omaxe Tower
Netaji Subhash Place, Pitampura
Shakur Pur I Block, North West Delhi
Delhi, New Delhi, 110034
Phone: 011-43026646
Email: investor@pajsonagro.com
Website: http://www.pajsonagro.com/
Pajson Agro India Registrar
Pajson Agro India Reviewers
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