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| IPO Listing At | BSE SME |
| SME IPO Issue Type | Book Build Issue |
| Total Issue Size | ₹74.45 Cr |
| Reserved for Market Maker | ₹4.22 Cr |
| Net Issue Size | ₹74.45 Cr |
| Fresh Issue | ₹70.23 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹112.00-118.00 per share |
| BSE Code | 544657 |
| Registrar | Bigshare Services Pvt.Ltd. |
| Lead Managers | Smart Horizon Capital Advisors... |
| Allotment Status | |
| DRHP |
| RHP |
| Final Prospectus |
| Anchor List |
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Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 2,400 shares · Multiples of 1,200 shares
Incorporated in 2021, Pajson Agro India processes raw cashew nuts into cashew kernels and supply them to domestic and international markets. The company sell in bulk and also in retail packs under our white-label brand Royal Mewa (dry fruits segment). Further, it sells by-products (cashew husk and shells) for industrial and agricultural use.
Sales and Distribution Channels: Sales operate through four verticals; 1. Wholesale Mandis (Local markets), 2. Institutional Sales (to retail chains, food brands, etc.), exports and B2C/Royal Mewa brand. Currently the company operates in 18 states and 3 Union Territories of India.
It has a cashew processing plant in Visakhapatnam, Anakapalli, Andhra Pradesh across 295,990.20 square feet with a capacity of 18,000 metric tonnes. Also, it has a dedicated packaging unit. Its processing facility includes shelling, peeling, cleaning, grading, sorting, and related handling equipment.
As on July 31, 2025, it has 465 permanent employees.
Competitive Strengths
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure towards Establishment of a Second Cashew Processing Facility at Vizianagaram, Andhra Pradesh | 57.00 |
| 2 | General Corporate Purposes | 8.47 |
| 3 | Issue Expenses | 8.98 |
| Total | 74.45 |
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 151.63 | 65.73 | 55.39 | 50.17 |
| Total Income | 118.37 | 187.28 | 96.04 | 101.13 |
| Profit After Tax | 14.20 | 20.42 | 3.35 | 0.02 |
| EBITDA | 21.07 | 30.27 | 5.74 | 1.10 |
| NET Worth | 58.40 | 44.21 | 23.79 | 20.44 |
| Reserves and Surplus | 40.90 | 40.71 | 20.29 | 16.94 |
| Total Borrowing | 40.04 | 14.57 | 14.57 | 0.00 |
| Amount in ₹ Crore | ||||
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 60.05% |
| ROCE | 48.21% |
| Debt / Equity | 0.33% |
| RoNW | 46.18% |
| PAT Margin | 10.90% |
| EBITDA Margin | 16.16% |
| Price to Book Value | 4.67 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 11.67 | 11.92 |
| P/E (x) | 10.11 | 9.9 |
| Promoter Holding | 85% | 62.47% |
| Market Cap | ₹280.95 Cr. | |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Merchant Banking Fees | 0.51 |
| 2 | Underwriting Fees | 3.72 |
| 3 | Marketing Fees | 3.97 |
| 4 | Brokerage, selling, commission, upload fees and UPI bids | 0.03 |
| 5 | Registrar to the issue | 0.02 |
| 6 | Legal Advisors | 0.05 |
| 7 | Advertising and Marketing expenses | 0.03 |
| 8 | Regulators including stock exchanges | 0.14 |
| 9 | Printing and distribution of issue stationery | 0.01 |
| 10 | Market Making | 0.15 |
| 11 | Depositories | 0.02 |
| 12 | Peer Review Auditors | 0.05 |
| 13 | Secretarial, Advisors, Monitoring Agency fees, Statutory Auditors fees related to IPO and others | 0.29 |
Last Updated on 05-May-2026 17:20:16
