Pajson Agro India IPO: Complete Details, Price, Date, GMP Context and Business Overview
14 December 2025 ·
Complete overview of Pajson Agro India IPO covering issue structure, financial performance, business strengths and industry outlook.

Introduction
The Indian SME IPO market has seen strong participation in recent years, especially from companies operating in agriculture, food processing, and export-oriented sectors. One of the upcoming SME public issues attracting attention is the Pajson Agro India IPO, scheduled to open in December 2025.
Pajson Agro India Ltd operates in the cashew processing and value-added agri-products segment, catering to both domestic and international markets. With strong revenue growth, improving profitability, and expanding distribution channels, the IPO offers investors an opportunity to evaluate a fast-scaling agri-processing company.
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About Pajson Agro India Ltd
Incorporated in 2021, Pajson Agro India Ltd is engaged in processing raw cashew nuts into finished cashew kernels. The company supplies cashew kernels to domestic wholesalers, institutional buyers, exporters, and retail consumers.
In addition to bulk sales, Pajson Agro has entered the branded retail segment through its white-label brand “Royal Mewa”, catering to the dry fruits category. The company also monetises cashew by-products such as husk and shells, which are sold for industrial and agricultural uses, helping improve overall margin efficiency.
Manufacturing Infrastructure
Pajson Agro operates a large-scale cashew processing facility in:
Visakhapatnam (Anakapalli), Andhra Pradesh
Total area: ~295,990 sq. ft.
Installed capacity: 18,000 metric tonnes per annum
Dedicated packaging unit for retail and institutional orders
The processing plant is equipped for shelling, peeling, cleaning, grading, sorting, and handling operations, enabling the company to maintain quality consistency.
As of July 31, 2025, Pajson Agro India Ltd employs 465 permanent employees, reflecting the labour-intensive nature of cashew processing.
Pajson Agro India Business Model
The company’s sales and distribution operate across four major verticals, allowing diversification of revenue streams.
1. Wholesale Mandis
Bulk supply of cashew kernels to local markets and traders forms a stable base of recurring revenue.
2. Institutional Sales
Supplies to retail chains, food brands, and large buyers who require consistent quality and volume.
3. Export Markets
Pajson Agro exports cashew kernels to international buyers, benefiting from India’s established position in the global cashew trade.
4. B2C and Royal Mewa Brand
Retail sales through private labelling and the Royal Mewa brand help capture higher margins and improve brand visibility.
Currently, the company operates across 18 states and 3 Union Territories, indicating a wide domestic footprint.
Pajson Agro India IPO Snapshot
| Particulars | Details |
|---|---|
| IPO Type | Book Building IPO |
| Issue Size | ₹74.45 Crore |
| Fresh Issue | 63,09,600 Shares |
| Face Value | ₹10 per share |
| Price Band | ₹112 – ₹118 per share |
| Listing Exchange | BSE SME |
Pajson Agro India IPO Timeline
| Event | Date |
|---|---|
| IPO Open Date | Thursday, December 11, 2025 |
| IPO Close Date | Monday, December 15, 2025 |
| Tentative Allotment | Tuesday, December 16, 2025 |
| Initiation of Refunds | Wednesday, December 17, 2025 |
| Credit of Shares to Demat | Wednesday, December 17, 2025 |
| Tentative Listing Date | Thursday, December 18, 2025 |
| UPI Mandate Cut-off | Dec 15, 2025 – 5 PM |
Pajson Agro India IPO Lot Size
| Investor Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Minimum) | 2 | 2,400 | 2,83,200 |
| Retail (Maximum) | 2 | 2,400 | 2,83,200 |
| HNI (Minimum) | 3 | 3,600 | 4,24,800 |
Pajson Agro India IPO Issue Structure
| Particulars | Details |
|---|---|
| Total Issue Size | 63,09,600 Shares |
| Market Maker Reservation | 3,57,600 Shares |
| Net Public Offer | 59,52,000 Shares |
| Market Maker | Giriraj Stock Broking Pvt. Ltd. |
| Pre-Issue Shareholding | 1,74,99,995 Shares |
| Post-Issue Shareholding | 2,38,09,595 Shares |
Pajson Agro India Ltd Financials (₹ Crore)
| Period Ended | Sep 2025 | Mar 2025 | Mar 2024 | 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 & Surplus | 40.90 | 40.71 | 20.29 | 16.94 |
| Total Borrowing | 40.04 | 14.57 | 14.57 | 0.00 |
IPO Market Context and GMP Interest
Investors actively tracking pajson agro ipo gmp today often compare it with other recent SME IPOs such as stanbik agro ipo gmp today and even non-agri listings like hrs aluglaze ipo gmp.
Grey market premiums (GMP) are unofficial indicators of market sentiment, but they are not regulated and can change rapidly. GMP should be viewed as a sentiment tracker rather than an investment signal.
Key Strengths of Pajson Agro India
Integrated cashew processing with by-product monetisation
Large-scale processing capacity with dedicated packaging
Diversified sales across wholesale, exports, and B2C
Strong financial turnaround and profitability growth
Expanding domestic footprint across multiple states
Risks and Considerations
Exposure to raw cashew price volatility
Dependence on agricultural supply chains
Rising borrowings to fund expansion
SME liquidity risks post listing
Conclusion
The Pajson Agro India IPO represents a growing agri-processing company with strong recent financial performance, diversified sales channels, and a scalable business model. Its focus on cashew processing, exports, and branded retail positions it well within India’s expanding food processing ecosystem.
For investors tracking pajson agro india ltd and SME IPO opportunities in December 2025, this issue provides a case study in high-growth agri-businesses. As always, a careful evaluation of financials, industry risks, and personal investment objectives is essential before participating.