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InvestmentsIPOPajson Agro IPO

Pajson Agro IPO

SME

Open Date

11 Dec 2025

Close Date

15 Dec 2025

Min Investment

₹ 2,83,200

Lot Size

1,200

Issue Size

₹ 74.45 Cr

Price Range

₹ 112 - ₹ 118

Subscribed

5.16 x
status

This IPO is now Live.

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IPO Timeline
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IPO Offer Start
11 Dec 2025
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IPO Offer Ends
15 Dec 2025
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Allotment Finalisation
16 Dec 2025
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Refund Initialisation
17 Dec 2025
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Non-Institutional Buyers (sHNI)
17 Dec 2025
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Listing of Shares
18 Dec 2025
IPO Subscription Details as on 21 Jun 2026, 08:09 AM
Qualified Instituational Buyers (QiB)
8.98 x
Retail
2.93 x
Total
5.16 x
Non-Institutional Buyer (bHNI)
6.24 x
Non-Institutional Buyer (sHNI)
3.54 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Pajson Agro India Limited is a cashew processing company incorporated on September 17, 2021, that processes raw cashew nuts into cashew kernels for domestic and international markets. The company operates through multiple channels including wholesale mandis, institutional sales, exports, and B2C brand 'Royal Mewa', with operations across 18 states and 3 union territories. The company acquired a cashew processing plant in Andhra Pradesh from Olam Agro India Private Limited in 2021 with current capacity of 18,000 metric tonnes, and sources raw cashew nuts from countries including C?te d'Ivoire, Benin, Ghana, Togo, Guinea-Bissau, Nigeria, and Tanzania through group company Pajson Global DMCC.
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Founded In

2021

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CEO

Anjali Jain

Financials of Pajson Agro India IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue101.1295.91187.27
Other Income0.010.120.01
Total Income
101.1396.04187.28
Total Expenses
101.1191.41159.95
Profit Before Tax0.024.6227.33
Total Profit
0.023.3520.42

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to establish a second cashew processing facility to enhance processing capacity from the current installed capacity, meet growing market demand, and strengthen market position through strategic location selection and operational risk mitigation.57
The company intends to deploy balance proceeds for general corporate purposes including meeting ongoing expenses, funding growth opportunities, marketing and brand building, working capital requirements, and other purposes as approved by the Board.-
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  • Strategically Located Processing Facility with Modern Machineries: The company's cashew processing plant is located in Visakhapatnam, Andhra Pradesh, equipped with advanced machinery including AI-powered sorting technology, shelling machines, color sorters, and Borma Units. The facility has increased capacity from 8,000 MT in FY 2023 to 18,000 MT in April 2025.
  • In-house packaging unit: The company operates a dedicated packaging unit in Delhi equipped with roasters, mixers, packing machines, and labeling equipment for the B2C segment under 'Royal Mewa' brand, providing cost efficiency, quality control, and faster turnaround times.
  • Leveraging the experience and network of Promoters: The company is led by promoters with combined experience of over 35 years in agricultural commodities, sales and marketing. Aayush Jain brings over 16 years of experience in production and sales verticals, driving market expansion and customer relationships.
  • Efficient Procurement and Raw Material Management: The company sources RCNs from established suppliers in countries like C?te d'Ivoire, Benin, Ghana, and Tanzania through group company Pajson Global DMCC. Material costs improved from 81% of revenue in FY 2023 to 66% in FY 2025, with PAT margins rising from 0.02% to 10.90%.
  • Diverse Customer Base: The company serves wholesalers, institutional customers like Bikanervala, More Retail, Nutraj, Farmley, Reliance Retail, and Haldiram, plus B2C customers through Royal Mewa brand. The company operates across 18 states and 3 Union Territories with export presence in UAE.
  • Strong Wholesaler Network and Customer Loyalty: The company maintains 69 wholesalers across 18 states and 3 union territories as of September 30, 2025. Revenue from repeat customers constitutes 90.48% of total revenue for the period ended September 30, 2025, demonstrating strong customer loyalty.

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