Pajson Agro India Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹118
Per ShareLot Size
1200 Shares
Minimum Investment
₹1,41,600
Issue Size
₹74.45 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35.24%
QIB Quota
49.64%
NII Quota
15.12%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Pajson Agro India Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
85%
Promoter Holding (Post-Issue)
62.47%
Issue Type
Book Building - SME
ISIN
INE14LM01012
About the Company
We are into processing of raw cashew nuts into cashew kernels and supplies to domestic and international markets. Our product portfolio primarily comprises various grades of cashew nuts, which are processed and packaged in bulk as well as consumer oriented retail packs. Additionally, we market select dry fruits under our white-label brand "Royal Mewa" through a combination of e-commerce platforms and offline distribution channels. We operate through a multi channel sales and distribution structure comprising four key verticals: Wholesale Mandis, Institutional Sales, Exports, and the B2C brand, Royal Mewa.
Industry Overview
World production of cashews currently ranges between 720,000 and 790,000 metric tonnes (kernel basis) per year (seasons 2015/16-2019/20). India, with 170,000-195,000 MT of annual production, ranks first, followed by Cote d'Ivoire, Vietnam and Tanzania averaging 149,000; 82,000 and 53,000 MT, respectively. The cashew industry has large economic significance as it employs more than 10 lakh people on farms and factories in rural areas. The cultivation of cashews in India covers a total of 0.7 million hectares of land, and the country produces over 0.8 million tonnes (MT) annually. Over the years, India has emerged as the global processing hub for the cashew industry.
Company History
Our Company was originally incorporated under the name "Pajson Agro India Private Limited" under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated September 17, 2021, issued by the Registrar of Companies, Central Registration Centre. Subsequently the status of the Company was changed to public limited and the name of our Company was changed to "Pajson Agro India Limited" vide Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting of our Company held on December 24, 2024. The fresh certificate of incorporation consequent to conversion was issued on February 08, 2025, by Registrar of Companies, ROC Delhi. The Corporate Identification Number of our Company is U01100DL2021PLC386740.
Products & Services
- The Company is into processing of raw cashew nuts into cashew kernels and supplies to domestic and international markets.
Growth Strategy
- Expansion of our processing capacity.
- Quality Assurance.
- Diversify and Strengthen Supplier Base.
- Scale up branding, promotional and digital activities for B2C brand "Royal Mewa".
- Expand our International Presence.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of up to 63,09,600 equity shares of face value of Rs.10/- each (the "Equity Shares") of Pajson Agro India Limited ("the Company" or "Pajson" or "the Issuer") for cash at a price of Rs. 118 per equity share including a share premium of Rs. 108 per equity share (the "Issue Price") Aggregating to Rs. 74.45 crores ("the Issue"), of which up to 3,57,600 equity shares of face value of Rs. 10/-each for cash at a price of Rs. 118 per equity share including a share premium of Rs. 108 per equity share aggregating to Rs. 4.22 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., net issue of up to 59,52,000 equity shares of face value of Rs.10/- each at a price of Rs. 118 per equity share including a share premium of Rs. 108 per equity share aggregating to Rs. 70.23 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 26.50 % and 25.00% respectively of the post issue paid up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- 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.
- The company significantly (26.00 % for the period ended September 30, 2025 and 96.33% in FY 2025) dependent on Pajson Global DMCC and Pajson International FZCO, Dubai based group companies, for procurement of raw cashew nuts. Any disruption in this arrangement may adversely affect its business operations, financial condition and results of operations.
- The company Profit After Tax (PAT) margins has fluctuated significantly in recent years (i.e. 0.02% in FY23 3.46% in FY24 10.90% in FY25 11.99% for the period ended September 30, 2025), which may impact investor perception of the company financial stability and could adversely affect its valuation and future performance.
- The company limited operating history makes evaluating its business and future prospects difficult.
- Its derives a significant portion of the company's revenue i.e., 60.10 %, 59.63%, 62.30%, and 56.94% for the period ended September 2025, for the FY 2025, FY 2024, and FY 2023 respectively from the company top 10 customers. The loss of any of these customers, a significant reduction in their purchase volumes, or a decision by any of them to pursue backward integration could adversely affect its business, results of operations, and financial condition. Furthermore, the company not entered into any written agreements or contracts with the customers for the sale of its products, it increases the company exposure to such risks.
- The company derives its revenue primarily from the domestic market out of which substantial portion of the company revenue from its operations in certain geographical regions especially from Delhi, Andhra Pradesh and Rajasthan. Any adverse developments affecting the company operations in these regions could has an adverse impact on its revenue and results of operations.