Market Performance
The Pajson Agro India IPO listing brought some stability to the SME space on Thursday, December 18, even as the broader Indian stock market traded under pressure. While overall market sentiment remained cautious, the SME debut managed to stay firm and opened in positive territory.
Pajson Agro India's share price was listed at ₹124 on the BSE SME, marking a 5.08% premium over the IPO issue price of ₹118. The listing reflected steady demand despite a weak market backdrop.
Main News: Pajson Agro India IPO Lists with Modest Gains
Shares of Pajson Agro India made a decent debut, holding their ground in a volatile session. The listing premium of ₹6 per share highlighted measured participation rather than aggressive speculation, which is often seen as a healthier sign for SME stocks.
Key listing details at a glance:
- IPO price: ₹118
- Listing price: ₹124
- Listing gain: 5.08%
- Exchange: BSE SME
- Listing date: December 18
The debut came after the IPO received solid interest during the bidding phase, reflecting confidence in the company’s business model and expansion plans.
Pajson Agro India IPO Subscription Details
The Pajson Agro India IPO saw healthy participation across investor categories, resulting in an overall subscription of 6.50 times.
Breakdown of demand:
- Total shares offered: 41,79,600
- Total applications received: 2,71,70,400
- Retail segment: Subscribed 3.85 times
- Non-institutional investors (NII): Subscribed 6.86 times
- Qualified institutional buyers (QIB): Subscribed 10.92 times
The steady subscription numbers set the stage for a stable listing rather than a volatile debut.
IPO Structure and Timeline
The IPO was entirely a fresh issue aimed at raising capital for business expansion and operational needs.
Key IPO details:
- Issue size: ₹74.45 crore
- Number of shares issued: 0.63 crore
- Price band: ₹112 to ₹118 per share
- Lot size: 1,200 shares
- IPO open period: December 11 to December 15
- Allotment finalised: December 16
- Shares credited: December 17
Retail investors had to bid for at least two lots, which meant a minimum investment of ₹2,83,200 at the upper end of the price band.
Company Details
Incorporated in 2021, Pajson Agro India operates in the agro-processing space, focusing on the conversion of raw cashew nuts into high-quality cashew kernels. The company supplies its products to both domestic and international markets.
Its operations span:
- Bulk supply of cashew kernels
- Retail packaging under the Royal Mewa white-label brand
- Sale of cashew by-products such as husk and shells
These by-products are used across industrial and agricultural applications, adding multiple revenue streams to the business.
Use of IPO Proceeds
The company plans to deploy the IPO funds with a clear operational focus.
The proceeds will be used for:
- Setting up a second cashew processing facility in Vizianagaram, Andhra Pradesh
- Meeting general corporate purposes
The expansion is aimed at enhancing processing capacity and supporting future growth.
Summary
The Pajson Agro India IPO listing delivered a calm and composed debut on the BSE SME, with the stock opening at a 5% premium despite weak broader market conditions. Healthy subscription levels, a clear use of funds, and a focused agro-processing business model shaped the listing outcome.
As Pajson Agro India shares begin their journey in the public market, the listing reflects steady investor interest rather than short-term excitement, aligning well with the current cautious tone of the stock market.
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