Pajson Agro India IPO Prices In at ₹112-118: Cashew King's SME Debut Beckons

Pajson Agro India, incorporated in 2021, processes raw cashew nuts into kernels at its 18,000 MT Anakapalli plant, serving 18 states via wholesale, institutions like Reliance Retail and Haldiram, exports, and its "Royal Mewa" B2C brand. The IPO, entirely fresh, targets BSE SME listing on December 18 after opening December 11-15. Lead manager Smart Horizon Capital and registrar Bigshare Services oversee the book-built offer. [ipocentral]​

Financial Edge

Revenue surged 95% to ₹187.28 Cr in FY25 with PAT at ₹20.42 Cr (up 509% YoY), boasting 16% EBITDA margins and 46% RoNW. Low debt (0.33x equity) and ROE of 60% underline efficiency from its 2.96 lakh sq ft facility. Expansion eyes Vizianagaram for doubled capacity. [ipocentral]​

Key Highlights

Price Band & Size: ₹112-118/share; 63,09,600 shares (₹74.45 Cr); lot 1,200 shares (min retail ₹2.83L).​

Timeline: Open Dec 11-15; allotment Dec 16; list Dec 18.​

Use of Proceeds: ₹57 Cr for new Vizianagaram plant; balance general purposes.​

Valuation: P/E 9.9-10.1x; market cap ~₹281 Cr post-IPO.​

Sources: Chanakya Ni Pothi, IPOCentral.in, Reuters, Chittorgarh