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SSMD Agrotech India IPO
Price Band
₹114.0–121.0
Issue Size
₹34.09 Cr
Lot Size
1,000 shares
Min Investment
₹242,000
2 LOTS MIN
GMP
—
Issue Price
₹121.0
SSMD Agrotech India IPO AI Summary
- SSMD Agrotech India IPO is listed on BSE SME in the Packaged Foods sector.
- Price band: ₹114.0–₹121.0 per share, lot size 1,000 shares (min. investment ₹242,000, 2 lots minimum).
- Subscription window: 25 Nov–27 Nov 2025, listing on 02 Dec 2025.
SSMD Agrotech India Ltd is an SME engaged in agro-food product manufacturing and trading, planning to raise funds through its IPO for working capital, debt repayment, and expansion. The company has shown growth in income and profit, though recent figures indicate a decline in total income for the latest period reported.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
SSMD Agrotech India IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 27 Nov 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
SSMD Agrotech India IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
House of Manohar (HOM) originally started as two separate proprietorship firms i.e. Manohar Lal Jaigopal Agro Industries and S.S Agro India, later merged as Shree Dhanlaxmi Flour Mills Private Limited, then renamed to SSMD Agrotech India Private Limited. SSMD Agrotech India Ltd is engaged in the manufacturing, trading, and repacking of a wide array of high-quality agro-food products. The company operates under four brands: Manohar Agro, Super S.S., Delhi Special, Shri Dhanlaxmi Its product portfolio include Puffed Rice, Ramdana (Cholai), Gram Flour, Matar Flour, Chana Dal, Idli Rava, Rice Powder, and several by-products of Chana Dal like Chana Chilka, Chana Churi, Chana Khanda, and Chana Sattu. The company primarly sells products through a network of distributors across Delhi/NCR, Haryana, Uttar Pradesh, Punjab, and Uttarakhand. Additionally, it also sells products directly to consumers (D2C) through micro manufacturing unit. It has 3 manfuacturing facilities and 1 D2C dark stores. Competitive Strengths Comprehensive manufacturing network Wide range of products and services Efficient resource utilization Strong leadership and experienced management
Company Financials (₹ Cr)
As of 2025-09-30
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 32.33 | 18.16 | 15.60 |
| Total Income | 52.13 | 99.18 | 73.45 |
| Profit After Tax | 3.84 | 5.38 | 1.10 |
| EBITDA | 5.79 | 8.47 | 3.23 |
| NET Worth | 10.76 | 6.92 | 1.33 |
| Reserves and Surplus | 4.91 | 6.39 | 0.02 |
| Total Borrowing | 6.88 | 6.07 | 7.02 |
Key Ratios
EPS
₹9.19
NAV
₹12.54
ROE
130.46%
ROCE
100.85%
RoNW
78%
P/B Value
9.65
P/E Ratio
13.16
Market Cap
₹104.86 Cr
PAT Margin
5.42%
Debt/Equity
0.88
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Jetmall Spices and India Limited | 15.06 | -8.26% | -9.83 | -1.24 |
| Contil India Limited | 7.46 | 18.16% | 18.28 | 1.63 |
| HOAC Foods India Limited | 29.62 | 21.82% | 32.88 | 6.69 |
| SSMD Agrotech India Limited This IPO | 12.54 | 78% | — | 9.74 |
Promoters
Ishu Munjal, Surbhi Munjal and Jai Gopal Munjal
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 Funding of Working Capital Requirement of the company 13.10 2 Repayment of portion of certain Borrowings availed by Company 6.83 3 Capital Expenditure to be incurred by the Company for the setting up of new D2C dark Store factories 2.04 4 Capital Expenditure to be incurred by the Company For purchase of machinery for setting up of Namkeen Plant 0.97 5 General Corporate Purposes 5.10 6 Issue Expenses 6.05 Total 34.09
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹73.45 Cr in the year ending 31 Mar 2024, increasing to ₹99.18 Cr by 31 Mar 2025. However, by 30 Sep 2025, total income dropped to ₹52.13 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹1.10 Cr for the year ending 31 Mar 2024, rising to ₹5.38 Cr by 31 Mar 2025. By 30 Sep 2025, profit after tax was ₹3.84 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
The company's implied P/E at the issue price is 13.16, compared to peers trading at P/E ratios ranging from -9.83 to 32.88.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. It can provide an indication of market sentiment towards an IPO, often reflected through the Grey Market Premium (GMP), which is the price at which shares are expected to trade on listing day compared to the issue price.
Who This IPO Suits
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 company fundamentals.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs like this, which can be subject to significant price fluctuations and uncertainties.
IPO Timeline, Explained
The IPO opens for subscription on 25 November 2025 and closes on 27 November 2025. Allotment of shares will be done on 28 November 2025, with the listing date set for 2 December 2025.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares of a company are listed on the stock exchange. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-IPO.
This evaluation is generated from SSMD Agrotech 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 the price band of SSMD Agrotech India IPO?
The price band of SSMD Agrotech India IPO is ₹114.0–₹121.0 per share.
When does SSMD Agrotech India IPO open and close?
SSMD Agrotech India IPO opens on 25 November 2025 and closes on 27 November 2025.
When does SSMD Agrotech India IPO list on the stock exchange?
SSMD Agrotech India IPO listed on 02 December 2025 at ₹121.0.
What is the lot size for SSMD Agrotech India IPO?
The lot size for SSMD Agrotech India IPO is 1000 shares, requiring a minimum investment of ₹242,000 (2 lots).
What is the price band for the IPO?
The price band for the IPO is ₹114.0 to ₹121.0.
What is the minimum investment required?
The minimum investment required is ₹242,000 for a lot size of 1,000 shares.
When does the IPO open and close?
The IPO opens on 25 November 2025 and closes on 27 November 2025.
What is the listing date for the shares?
The shares are expected to be listed on 2 December 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected price at which shares will trade on the listing day compared to the issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
25 Nov 2025
Close
27 Nov 2025
Allotment
28 Nov 2025
Listing
02 Dec 2025
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