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InvestmentsIPORukmani Devi Garg Agro Impex IPO

Rukmani Devi Garg Agro Impex IPO

SME

Open Date

26 Sep 2025

Close Date

30 Sep 2025

Min Investment

₹ 2,37,600

Lot Size

1,200

Issue Size

₹ 23.52 Cr

Price Range

₹ 93 - ₹ 99

Subscribed

23.42 x
status

This IPO is now Live.

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IPO Timeline
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IPO Offer Start
26 Sep 2025
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IPO Offer Ends
30 Sep 2025
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Allotment Finalisation
1 Oct 2025
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Refund Initialisation
3 Oct 2025
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Non-Institutional Buyers (sHNI)
3 Oct 2025
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Listing of Shares
6 Oct 2025
IPO Subscription Details as on 2 Apr 2026, 05:43 AM
Qualified Instituational Buyers (QiB)
7.28 x
Retail
29.23 x
Total
23.42 x
Non-Institutional Buyer (bHNI)
78.82 x
Non-Institutional Buyer (sHNI)
33.23 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Rukmani Devi Garg Agro Impex Limited is an agricultural produce aggregator incorporated in 1998. The company consolidates agricultural produce including wheat, mustard, coriander, maize, flax seeds, and soybean from a vast network of small and fragmented farmers. The company grades these produces based on quality and sells in bulk to a diversified customer base which includes corporates, flour mills, solvent-extraction plants/oil mills, export or agriculture-processors across India. As a strategy to diversify product offerings, the company started its processing unit in Fiscal 2015 for grading, sorting and packaging of raw wheat. The company sells processed wheat under its brands 'Sharbati', 'Happyfamily', and 'Taj Mahal' through a network of distributors and dealers across Rajasthan, Uttar Pradesh, Maharashtra, Haryana, Punjab, Delhi and Chandigarh. The company procures agricultural produce from farmers through a network of over 500 kaccha aadtiya/agents spread across Rajasthan and Madhya Pradesh. The company operates processing units located at RIICO Land in Kota, Rajasthan, which are strategically positioned within 200 meters of Bhamashah Mandi, one of India's largest agricultural mandis. The processing unit is equipped with imported fully-automated machinery from London, UK with cleaning, grading, color sorting using multi-vision technology, and automatic packaging capabilities. The company has aggregate warehousing capacity of around 20,000 MT through owned warehouses and additional storage capacity of around 3,500 MT at its processing unit.
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Founded In

1998

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CEO

Mrs. Anju Garg

Financials of Rukmani Devi Garg Agro Impex IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue24,805.1924,437.5332,699.50
Other Income44.3864.9132.82
Total Income
24,849.5724,502.4532,732.32
Total Expenses
24,784.8223,826.8731,709.49
Profit Before Tax64.75675.581,022.83
Total Profit
47.39501.72757.07

All figures are in lakhs (₹)

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Utilisation of Proceeds

All figures are in lakhs (₹)

PurposeAmount
The company proposes to utilize the Net Proceeds towards funding its working capital requirements in Fiscal 2026. The company has significant working capital requirements and funds its working capital requirements in the ordinary course of business from internal accruals/equity and financing facilities from various banks and related parties. The company requires additional working capital for funding future growth requirements. The company being in seasonal business, the peak cash requirement during harvest period is significantly higher and the company has been fully utilizing its sanction limit to meet these peak cash requirements. The holding of inventory will enable the company to bargain on pricing and also supply to customers as per their demand requirements. The increase in inventory is also attributable to increase in Branded sales on a year-on-year basis.1,650
The company proposes to deploy the balance of the Net Proceeds towards general corporate purposes subject to such utilization not exceeding 15% of the Gross Proceeds or Rs 1,000 lakhs, whichever is less, in compliance with the SEBI ICDR Regulations. The company intends to deploy the funds towards general corporate purposes to drive business growth. The general corporate purposes include meeting day to day expenses, short term working capital requirements, meeting any expense of the company including salaries and wages, administration, insurance, repairs and maintenance, payment of taxes and duties, expenses towards strategic initiatives, funding growth opportunities, strengthening marketing capabilities and brand building exercises, meeting ongoing general corporate contingencies, meeting expenses incurred in the ordinary course of business, payment of lease liabilities, payment of commission and/or fees to consultants, acquisition of fixed assets, capital expenditure in the ordinary course of business, business development initiatives and towards any exigencies.-
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  • Long-standing relationship with customers from diverse industry: The company has a well-diversified customer base across varied end-use industries such as corporates, flour mills, oil mills/solvent-extraction plant, export or agriculture-processors across India. The company also sells processed wheat through a network of distributors and dealers across India. As on March 31, 2025, 2 of the top 10 customers, representing 32.94% of revenue from operations are associated with the company for over a period of 10 years. The company has developed a network of around 123 dealers and distributors as on March 31, 2025. Top 10 customers contributed ₹19,404.04 Lakhs (59.34% of revenue from operations) in Fiscal 2025.
  • Large scale procurement and storage capabilities: The company has an extensive procurement network comprising of over a large number of farmers connected directly and through agents spread across Rajasthan and Madhya Pradesh. As on March 31, 2025, the company's network comprises of over 500 kaccha aadtiya/agents who liaison and coordinate between the company and the farmers community. The company's peak procurement of all commodities during Fiscal 2025 was around 20,000 MT. The company has 3 owned warehouses with aggregate storage capacity of around 16,500 MT, plus processing unit storage capacity of around 3,500 MT, and 2 leased warehouses with aggregate capacity of 20,000 MT from Group entity.
  • Strategically located and fully automated processing unit and aggregation center: The company's processing units are strategically located within a radius of 200 meter from Bhamashah Mandi, Kota, Rajasthan which is one of the largest agricultural mandi's in India based on traded volume. The company believes that the Kota division has 16 mandis, and the company's proximity to this mandi allows efficient sourcing of quality agriculture produce. With an installed capacity of 200 MT/day, the company's processing unit is equipped with automated imported processing plant with latest technology, including cleaning, grading multi-vision color sorting and automatic packaging of wheat.
  • Consistent focus on quality: The company believes that quality is a pre-requisite for positive consumer experience and long-term brand loyalty. The company's focus on quality is maintained across the entire process chain, including sourcing, processing, packaging and distribution. The company's processing unit possesses necessary quality certifications and approvals such as ISO 45001:2018, HACCP, ISO 9001:2015 and ISO 22000:2018. The company has long term relations with suppliers which help to procure quality raw materials at competitive rates.
  • Strong promoter background and experienced management team: The company's Promoter, Mr. Vishal Garg, brings vision and leadership which has been instrumental in the company's success. The company's promoters have a proven track record and in-depth understanding of the business. The company's experienced senior management team have enabled successful establishment of customer-oriented corporate culture. The company has motivated and well-trained employee strength of 18 as on March 31, 2025. The company has followed transparent management policies and invested in employees through regular training programmes to improve skills and service standards.

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