Pajson Agro India IPO

Status: Closed
RHP:

₹ 268,800 / 2400 shares
Minimum Investment

Pajson Agro India IPO Details

Open Date
11 Dec 2025
Close Date
15 Dec 2025
Listing Date
18 Dec 2025
IPO Price Range
₹ 112 to ₹118
IPO Size
₹ 74.45 Cr
Listing Exchange
BSE SME

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Pajson Agro India IPO Subscription Status

Date	QIB	NII	Retail	TOTAL
11-Dec-2025	3.54	0.18	0.09	1.08
12-Dec-2025	7.07	0.48	0.55	2.38
15-Dec-2025	10.92	6.86	3.85	6.50

About Pajson Agro India

Last Updated: 18 December 2025 2:34 PM by 5paisa

Pajson Agro India Ltd is a fast-growing agro-processing company established in 2021, specialising in cashew nut processing and marketing. The company sources raw cashew nuts from India and several African countries, ensuring high-quality products for both domestic and international markets. It operates through wholesale, institutional, and retail channels, including its own B2C brand Royal Mewa, and also supplies by-products for industrial and agricultural use. Pajson Agro has a processing facility in Visakhapatnam, Andhra Pradesh, and is expanding its operations to strengthen its supply chain and market presence.

Established in: 2021

Managing Director: Aayush Jain

Pajson Agro India Objectives

1. Capital expenditure towards establishment of a second cashew processing facility at Vizianagaram, Andhra Pradesh (₹57 Cr)

2. General corporate purposes

Pajson Agro India Ltd IPO Size

Types	Size
Total IPO Size	₹74.45 Cr
Offer For Sale	-
Fresh Issue	₹74.45 Cr

Pajson Agro India Ltd IPO Lot Size

Application	Lots	Shares	Amount (₹)
Retail (Min)	2	2,400	2,68,800
Retail (Max)	2	2,400	2,83,200
S-HNI (Min)	3	3,600	4,03,200
S-HNI (MAX)	7	8,400	9,91,200
B-HNI (Min)	8	9,600	11,32,800

Pajson Agro India Ltd IPO Reservation

Investors Category	Subscription (times)	Shares Offered*	Shares bid for	Total Amount (Cr.)*
QIB (Ex Anchor)	10.92	11,82,000	1,29,07,200	152.30
Non-Institutional Buyers	6.86	9,00,000	61,77,600	72.90
bNII (bids above ₹10L)	7.73	6,00,000	46,35,600	54.70
sNII (bids below ₹10L)	5.14	3,00,000	15,42,000	18.20
Individual Investors (IND category bidding for 2 Lots)	3.85	20,97,600	80,85,600	95.41
Total**	6.50	41,79,600	2,71,70,400	320.61

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

Pajson Agro India Financial Status

Profit and Loss

Revenue
EBITDA
PAT

Balance Sheet

Total Liabilities
Share Capital
Total Assets

Particulars (In ₹ Crores)	FY23	FY24	FY25
Revenue	101.12	95.91	187.27
EBITDA	1.10	5.74	30.27
PAT	0.02	3.35	20.42

Particulars (In ₹ Crores)	FY23	FY24	FY25
Total Assets	50.17	55.39	65.73
Share Capital	3.5	3.5	3.5
Total Liabilities	50.17	55.39	65.73

Cash Flows (₹ Crores)	FY23	FY24	FY25
Net Cash Generated From / (used in) Operating Activities	11.64	-8.95	16.13
Net Cash Generated From / (used in) Investing Activities	-0.68	-5.53	-10.01
Net Cash Generated From / (used in) Financing Activities	-10.58	14.43	-15.56
Net Increase (Decrease) in Cash and Cash Equivalents	0.38	-0.05	4.56

Pajson Agro India IPO SWOT Analysis

Strengths

1. Established brand in cashew processing with a growing market presence.

2. Diversified sourcing from India and Africa, ensuring raw material stability.

3. Plans to expand processing capacity with a new facility in Andhra Pradesh.

4. Strong distribution network across wholesale, retail, and institutional channels.

Weaknesses

1. Relatively new company with limited operating history since 2021.

2. Dependence on a single product segment (cashew nuts) may pose risks.

3. Small promoter holding post-IPO (18.16%) could affect control.

4. SME listing may limit investor reach compared to main board.

Opportunities

1. Growing global demand for cashew nuts and processed agro-products.

2. Expansion into new markets and product diversification possible.

3. Utilisation of IPO proceeds for scaling up operations and supply chain.

4. Potential for export growth with enhanced processing capabilities.

Threats

1. Volatility in raw material prices and supply chain disruptions.

2. Intense competition from established agro-processing players.

3. Regulatory and compliance risks in agro-export markets.

4. Economic downturns or trade policy changes affecting exports.

Why Invest in Pajson Agro India IPO?

1. Strong financial growth with revenue up 95% and PAT up 509% in FY2025, reflecting robust operational efficiency.

2. High ROE (60%) and ROCE (48%), indicating efficient use of capital and strong profitability.

3. Vertically integrated model with direct sourcing from India and Africa, supporting scalable supply and quality control.

4. IPO proceeds will fund expansion of processing capacity and supply chain, boosting future growth potential.

Pajson Agro India Industry Landscape and Growth Potential

Pajson Agro India Ltd’s IPO landscape is marked by robust financial growth, with FY2025 revenue of ₹187.28 crore and PAT of ₹20.42 crore, reflecting a vertically integrated model and scalable operations. The company’s growth potential is driven by expansion plans, including a new cashew processing facility in Andhra Pradesh funded by IPO proceeds, strong margins, and diversified B2B/B2C/export channels. The DRHP highlights its nationwide presence, direct sourcing from Africa and India, and a focus on quality, positioning it for sustained growth in India’s agro-processing sector.