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Pajson Agro India IPO
Price Band
₹112.0–118.0
Issue Size
₹74.45 Cr
Lot Size
1,200 shares
Min Investment
₹283,200
2 LOTS MIN
GMP
+₹6.0 (5.08%)
Issue Price
₹118.0
Subject to Sauda
₹5500
Paid only if allotted
Pajson Agro India IPO AI Summary
- Pajson Agro India IPO is listed on BSE SME in the Other Food Products sector.
- Price band: ₹112.0–₹118.0 per share, lot size 1,200 shares (min. investment ₹283,200, 2 lots minimum).
- Subscription window: 11 Dec–15 Dec 2025, listing on 18 Dec 2025.
- Current GMP is +₹6.0 (5.08%), an estimated listing price of ₹124 — unofficial and can change daily.
Pajson Agro India is a new entrant in the cashew processing industry, with a focus on both domestic and international markets. The company aims to expand its operations with the proceeds from its IPO, while its financials show a recent growth trend in total income and profit, albeit with some fluctuations in the most recent period.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Pajson Agro India IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 15 Dec 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Pajson Agro India IPO Grey Market Premium (GMP) Today
GMP
+₹6.0
GMP %
+5.08%
Est. Listing
₹124.0
Updated: 25 Jul 2026 14:15
About the Company
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 Strategically Located Processing Facility with Modern Machineries In-house packaging unit Leveraging the experience and network of our Promoters Efficient Procurement and Raw Material Management Diverse Customer Base Strong Wholesaler Network and Customer Loyalty
Company Financials (₹ Cr)
As of 2025-09-30
| 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 |
Key Ratios
EPS
₹11.67
NAV
₹25.26
ROE
60.05%
ROCE
48.21%
RoNW
46.18%
P/B Value
4.67
P/E Ratio
10.11
Market Cap
₹280.95 Cr
PAT Margin
10.90%
Debt/Equity
0.33
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Aelea Commodities Limited | 50.21 | 1.13% | 292.98 | 0.57 | 0.57 |
| Prospect Consumer Products Limited | 44.98 | 8.95% | 17 | 4.19 | 4.19 |
| Krishival Foods Limited | 63.55 | 9.56% | 78 | 6.08 | 6.08 |
| Pajson Agro India Ltd. This IPO | 25.26 | 46.18% | — | 11.67 | 11.67 |
Promoters
Aayush Jain, Anjali Jain and Pulkit Jain
Objects of the Issue
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
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹101.13 Cr in the year ending 31 Mar 2023, increasing to ₹96.04 Cr by 31 Mar 2024, then rising significantly to ₹187.28 Cr by 31 Mar 2025. However, as of 30 Sep 2025, total income decreased to ₹118.37 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹0.02 Cr in the year ending 31 Mar 2023, which increased to ₹3.35 Cr by 31 Mar 2024. This further rose to ₹20.42 Cr by 31 Mar 2025, but then decreased to ₹14.20 Cr as of 30 Sep 2025, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Pajson Agro India has an implied P/E of 10.11 at the issue price, while peers are trading at P/E ratios ranging from 17 to 292.98.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO compared to its issue price. A positive GMP suggests that the stock may list at a higher price, while a negative GMP indicates the opposite. GMP can fluctuate based on market sentiment and demand for the IPO.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs like this, as they can be subject to market fluctuations and uncertainties associated with new companies.
IPO Timeline, Explained
The IPO opens for subscription on December 11, 2025, and closes on December 15, 2025. Allotment of shares will be done on December 16, 2025, and the listing date is set for December 18, 2025.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by various factors, including market conditions and investor sentiment. While some IPOs may experience a surge in price on their debut, others may not perform as expected, leading to potential losses.
This evaluation is generated from Pajson Agro India's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Pajson Agro India IPO GMP today?
Pajson Agro India IPO GMP today is +₹6.0 (5.08%), indicating an estimated listing price of ₹124. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Pajson Agro India IPO?
The price band of Pajson Agro India IPO is ₹112.0–₹118.0 per share.
When does Pajson Agro India IPO open and close?
Pajson Agro India IPO opens on 11 December 2025 and closes on 15 December 2025.
When does Pajson Agro India IPO list on the stock exchange?
Pajson Agro India IPO listed on 18 December 2025 at ₹124.0.
What is the lot size for Pajson Agro India IPO?
The lot size for Pajson Agro India IPO is 1200 shares, requiring a minimum investment of ₹283,200 (2 lots).
What is the lot size for this IPO?
The lot size for Pajson Agro India's IPO is 1200 shares.
What is the minimum investment amount?
The minimum investment amount is ₹283,200.
What is the price band for the IPO?
The price band for the IPO is ₹112.0 to ₹118.0.
When does the IPO open and close?
The IPO opens on December 11, 2025, and closes on December 15, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
11 Dec 2025
Close
15 Dec 2025
Allotment
16 Dec 2025
Listing
18 Dec 2025
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