Adon Agro Commodities IPO GMP today is Rs 8.25. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
ADON
Adon Agro Commodities
Adon Agro Commodities Limited operates in the agro-commodity trading and processing sector, mainly focused on dry fruits, nuts, seeds and berries. It sources products from India and overseas markets, including the UAE, Afghanistan, Chile, the USA and Sri Lanka, and sells them as bulk traded goods or after processing, packing and branding. Its products include almonds, cashews, walnuts, pistachios, raisins, dates, apricots and related dry-fruit items, including processed variants and customised assortments. The company generates revenue through containerised bulk sales, wholesale sales, modern trade, export sales, direct-to-consumer channels, government/institutional sales and services such as almond-shell breaking. It also sells processed and packed dry fruits under its proprietary brand, “Hunger Nuts”. The RHP describes the business as moving from a trading-focused model to an integrated model covering sourcing, processing, packaging and multi-channel distribution.
IPO Details
Complete IPO information
| Current GMP | ₹8.25 |
|---|---|
| Estimated Listing Gain | +11.79% |
| Price Band | ₹66.00 - ₹70.00 |
| Issue Price | ₹70.00 |
| Listing Price | ₹78.25 |
| Lot Size | 2,000 Shares |
| Issue Type | SME |
| Issue Size | Approx ₹44.03 Cr |
| Registrar | TBA |
| Exchange | BSE SME |
| Retail Quota | TBA |
| Overall Subscription | 1.34x |
| Listing Date | 06 Jul 2026 |
| Minimum Investment | ₹2,80,000 |
Timeline
IPO roadmap at a glance
01
Bidding Opens
29 Jun 2026
02
Bidding Closes
01 Jul 2026
03
Allotment
02 Jul 2026
04
Listing
06 Jul 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 30 Jun 2026 | ₹0.00 | - | 0.00% |
| 29 Jun 2026 | ₹0.00 | - | 0.00% |
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 4,000 | ₹2,80,000 |
| Retail Maximum | 2 Lot | 4,000 | ₹2,80,000 |
| S-HNI Minimum | 3 Lot | 6,000 | ₹4,20,000 |
| S-HNI Maximum | 7 Lot | 14,000 | ₹9,80,000 |
| B-HNI Minimum | 8 Lot | 16,000 | ₹11,20,000 |
Issue Notes
Important takeaways before applying
Strengths
- Operates an integrated business model covering sourcing, importing, processing, packing and distribution of dry fruits and nuts.
- Sources products from multiple domestic and international markets, supporting a diversified procurement network.
- Markets processed products under its own “Hunger Nuts” brand across B2B, wholesale, retail and D2C channels.
- Has an established distribution network through APMC Navi Mumbai, intermediaries and third-party distributors across India.
- Maintains internal quality control processes to ensure products meet defined quality standards before sale.
Risks
- A significant share of revenue depends on a limited number of customers, and losing key customers could impact the business.
- The company does not have long-term agreements with its customers, making revenue less predictable.
- Competition from organised and unorganised suppliers may reduce market share, revenue and profitability.
- Dry fruits are susceptible to spoilage and contamination, which could lead to regulatory action and reputational damage.
- The business is seasonal, and demand depends on festivals and the marriage season.
Analysis
Adon Agro Commodities IPO Details
Adon Agro Commodities Limited is launching its Initial Public Offering (IPO) through the book-building route to raise funds for business expansion, working capital requirements, and general corporate purposes. The company operates in the agro commodities sector and is involved in the trading, processing, and distribution of agricultural products.
The IPO consists entirely of a fresh issue of equity shares, which means the proceeds from the issue will directly benefit the company and support its future growth initiatives. Following the completion of the issue, the company's shares are proposed to be listed on the BSE SME platform.
| Particular | Details |
|---|---|
| Adon Agro Commodities IPO Open Date | June 29, 2026 |
| Adon Agro Commodities IPO Close Date | July 1, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹66 to ₹70 Per Share |
| Issue Size | Approx ₹44.03 Crores |
| Fresh Issue | Approx ₹44.03 Crores |
| Issue Type | Bookbuilding Issue |
| IPO Listing | BSE SME |
Analysis
Adon Agro Commodities IPO Reservation
Adon Agro Commodities IPO has allocated shares across various investor categories as per the applicable SME IPO regulations. The issue provides participation opportunities for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs).
The majority of the issue has been reserved for retail investors and high-net-worth investors, while a smaller allocation has been earmarked for institutional investors. The final allotment in each category will depend on the level of subscription received during the IPO bidding period.
| Investor Category | Share Offered | Shares (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Excluding Anchor) | 64,000 Shares | 1.02% |
| NII Shares Offered | 29,60,000 Shares | 47.06% |
| Retail Shares Offered | 29,50,000 Shares | 46.90% |
Analysis
Adon Agro Commodities IPO Dates
The Adon Agro Commodities IPO will open for subscription on June 29, 2026, and close on July 1, 2026. Investors can place bids for shares during this subscription window through their brokers or online trading platforms.
The company is expected to finalize the basis of allotment on July 2, 2026. Refunds for unsuccessful applicants and credit of shares to successful investors' demat accounts are scheduled for July 3, 2026, while the shares are proposed to be listed on the BSE SME platform on July 6, 2026.
| IPO Activity | Date |
|---|---|
| Adon Agro Commodities IPO Open Date | June 29, 2026 |
| Adon Agro Commodities IPO Close Date | July 1, 2026 |
| Basis of Allotment | July 2, 2026 |
| Refunds Initiation | July 3, 2026 |
| Credit to Demat Account | July 3, 2026 |
| IPO Listing Date | July 6, 2026 |
| IPO Bidding Cut-off Time | July 1, 2026 – 5:00 PM |
Analysis
Adon Agro Commodities IPO Promoters and Holding Pattern
Adon Agro Commodities Limited is promoted by Mr. Narayanswamy Venkitkrishnan, Mrs. Jigisha Narayanswamy, and Mr. Shubham Ratan Sharma. The promoters have been instrumental in building the company's presence in the agro commodities business and have contributed significantly to its operational growth and market expansion.
Prior to the public issue, the promoter group held a dominant ownership position in the company. Following the completion of the IPO, promoter shareholding will dilute due to the issuance of fresh equity shares; however, the promoters will continue to maintain a majority stake and management control over the company.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 1,67,27,270 | 90.04% |
| Promoter Holding Post Issue | 2,30,17,270 | 65.44% |
Analysis
Adon Agro Commodities IPO Objects of the Issue & Utilisation of Proceeds
Adon Agro Commodities Limited intends to utilize the proceeds from the IPO primarily to strengthen its working capital position and support future business expansion activities. The agro commodities business generally requires significant working capital due to inventory management, procurement cycles, and trade receivables.
The company plans to deploy a major portion of the issue proceeds towards meeting its incremental working capital requirements, which is expected to improve operational efficiency and support higher business volumes. The remaining funds will be utilized for general corporate purposes.
| Purpose | Amount |
|---|---|
| Funding Incremental Working Capital Requirements | ₹32.00 Cr. |
| General Corporate Purpose | ₹- |
Analysis
Adon Agro Commodities - About IPO
Adon Agro Commodities has been involved in the sourcing, importing, processing, packing, and distribution of dry fruits, nuts, seeds, and berries. Its product range includes almonds, cashews, walnuts, raisins, pistachios, dates, apricots, and other related products.
The firm sells its products in bulk in unprocessed form as well as in processed and packaged format in sizes ranging from 250 grams to 30 kilograms under its brand Hunger Nuts. Adon Agro sources its raw materials from both domestic and international markets in the UAE, Afghanistan, the USA, Chile, and Sri Lanka.
Its manufacturing facility is located at Navi Mumbai, which includes machines for cracking of almonds, manual cracking and grading of walnuts, cleaning, sorting, roasting, flavouring, and packaging operations. Moreover, the company generates its revenue via 5 different segments: Containerised Bulk B2B Sales, Wholesale and Corporate Gifting Sales, Modern Trade Supply, Export Sales, and Direct-to-Consumer (D2C) Sales.
Analysis
Adon Agro Commodities IPO Company Financial Report
Adon Agro Commodities Limited has reported strong financial growth over the last few years, supported by increasing business volumes and expansion in the agro commodities trading segment. The company has demonstrated substantial growth in revenue while improving profitability and asset strength.
The financial performance for January 2026 reflects a significant jump in revenue and profit compared to previous financial years, indicating strong momentum in business operations and improved operational efficiency.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹22.33 | ₹22.21 | ₹0.09 | ₹3.65 |
| 2024 | ₹72.92 | ₹70.36 | ₹1.79 | ₹20.22 |
| 2025 | ₹103.04 | ₹93.11 | ₹7.22 | ₹39.11 |
| January 2026 | ₹287.33 | ₹258.18 | ₹21.55 | ₹86.43 |
Analysis
Adon Agro Commodities IPO Valuation – FY2025
Adon Agro Commodities Limited has reported impressive profitability and return ratios for FY2025, reflecting strong business growth and efficient capital utilization. The company's robust Return on Equity (ROE) and Return on Capital Employed (ROCE) indicate its ability to generate healthy returns for shareholders and investors.
Investors generally evaluate metrics such as Earnings Per Share (EPS), Net Asset Value (NAV), debt levels, and profit margins to determine the attractiveness of an IPO. Adon Agro Commodities has shown notable improvement across most financial parameters during FY2025.
| KPI | Values |
|---|---|
| Return on Equity (ROE) | 84.36% |
| Return on Capital Employed (ROCE) | 60.65% |
| EBITDA Margin | 10.14% |
| PAT Margin | 7.01% |
| Debt to Equity Ratio | 0.39 |
| Earning Per Share (EPS) | ₹5.37 (Basic) |
| Price/Earning (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 84.36% |
| Net Asset Value (NAV) | ₹40.57 |
Analysis
Adon Agro Commodities IPO Peer Group Comparison
Adon Agro Commodities Limited operates in the agro commodities and food trading segment. Investors often compare IPO valuation metrics with listed peers to understand the company's relative valuation, profitability, and financial position within the industry.
The peer comparison below highlights important financial indicators including Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), Net Asset Value (NAV), and revenue figures of comparable listed companies operating in similar business segments.
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Leo Dry Fruits & Spices Trading Limited | 5.75 | 9.57 | 16.68% | 35.59 | – Cr. |
| Proventus Agrocom Limited | 10.50 | 114.29 | 5.86% | 377.12 | – Cr. |
| Krishival Food Limited | 6.07 | 50.74 | 4.08% | 63.55 | – Cr. |
Analysis
IPO Lead Managers aka Merchant Bankers
- Galactico Corporate Services Ltd.
FAQ
Adon Agro Commodities IPO FAQs
Adon Agro Commodities IPO price band is Rs 66.00 to Rs 70.00. Check the latest issue price, lot size and GMP together before applying.
Adon Agro Commodities IPO open date is 29 Jun 2026, close date is 01 Jul 2026, and listing date is 06 Jul 2026.
Adon Agro Commodities IPO lot size is 2,000 shares. The minimum retail investment is Rs 2,80,000.
Adon Agro Commodities is classified as a SME. This helps investors quickly understand the issue category and exchange segment.
Adon Agro Commodities IPO subscription status currently shows Retail 0.84x, QIB 22.47x, Overall 1.34x.
Adon Agro Commodities Limited operates in the agro-commodity trading and processing sector, mainly focused on dry fruits, nuts, seeds and berries. It sources products from India and overseas markets, including the UAE, Afghanistan, Chile, the USA and Sri Lanka, and sells them as bulk traded goods or after processing, packing and branding. Its products include almonds, cashews, walnuts, pistachios, raisins, dates, apricots and related dry-fruit items, including processed variants and customised assortments. The company generates revenue through containerised bulk sales, wholesale sales, modern trade, export sales, direct-to-consumer channels, government/institutional sales and services such as almond-shell breaking. It also sells processed and packed dry fruits under its proprietary brand, “Hunger Nuts”. The RHP describes the business as moving from a trading-focused model to an integrated model covering sourcing, processing, packaging and multi-channel distribution.
Adon Agro Commodities IPO issue size is 44.03 and the expected allotment date is 02 Jul 2026.