Green Asia Impex IPO Analysis: Should You Apply? GMP, Review & Details

Green Asia Impex is a SME IPO in the Other Agricultural Products sector. The issue price band is ₹85.0–₹90.0 per share. Issue size is ₹60.0 crore.

Green Asia Impex IPO — Key Details

Company Overview

Green Asia Impex Limited, established in August 2014, specializes in sourcing, processing, manufacturing, and exporting frozen shrimps and dried chillies. The company serves B2B customers, including importers, distributors, and food processors, both domestically and internationally. Its shrimp processing includes various types such as Vannamei and Black Tiger, while its chilli exports feature key Indian varieties. The company operates a semi-automated processing facility in Andhra Pradesh and is planning to expand its capacity significantly with a new facility. As of January 31, 2026, the workforce comprises 125 permanent employees.

Financial Performance

Total Income was ₹318.15 Cr for the period ending 31 Mar 2024, increasing to ₹339.65 Cr by 31 Mar 2025, and further rising to ₹388.63 Cr by 31 Mar 2026. This indicates a consistent upward trend in revenue over the three periods. Profit After Tax was ₹6.66 Cr for the period ending 31 Mar 2024, rising to ₹10.35 Cr by 31 Mar 2025, and then to ₹15.61 Cr by 31 Mar 2026. This shows a steady increase in profitability across the periods.

Objects of the Issue

The Company proposes to utilize the net proceeds from the issue for the following purposes: 1. Funding the capital expenditure for setting up the proposed seafood processing facility, including the purchase and installation of plant, machinery, and equipment (estimated amount: ₹40.03 Cr). 2. General corporate purposes.

Understanding Grey Market Premium (GMP)

The Grey Market Premium (GMP) refers to the unofficial trading of shares before they are listed on the stock exchange. It provides an indication of the expected listing price based on demand and supply dynamics in the grey market.

Subscription Status

As of 25th September 2026, the IPO has received a total subscription of 0.03 times, with varying demand across categories. The retail category saw a subscription of 0.07 times, while the QIB category remained unsubscribed.

Peer Comparison

• Essex Marine Ltd. - P/E: 4.4
• Kings Infra Ventures Ltd. - P/E: 17.21
• Apex Frozen Foods Ltd. - P/E: 29.16

IPO Timeline

The IPO opens on 24th September 2026 and closes on 28th September 2026. Allotment will be done on 29th September 2026, and the listing is expected on 1st October 2026.

Should You Apply for Green Asia Impex IPO?

Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as market conditions and sector performance.

Investors with a low risk tolerance or those seeking guaranteed returns may want to avoid IPOs, as they can be subject to market fluctuations and uncertainties.

This is general risk-profile education, not a personal recommendation to apply or avoid this specific IPO — TopFund is not a SEBI-registered investment adviser.

Listing Day Risks

Listing gains refer to the potential profit an investor can make when shares are sold on the listing day. However, these gains are not guaranteed and can be influenced by market conditions, demand for the stock, and overall investor sentiment.

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Disclaimer: This is educational content, not investment advice. GMP is an unofficial grey-market indicator, unregulated and never guaranteed. TopFund is not a SEBI-registered investment adviser — please do your own research or consult a qualified adviser before applying to any IPO.