Pajson Agro IPO Subscribed 6.59 Times on Day 3

New Delhi, Dec 15 (PTI) The initial public offer of city-based Pajson Agro India received 6.59 times subscription on the final day of the offer on Monday.

The Rs 74.4-crore IPO received bids for more than 2.71 crore equity (2,71,70,400) shares against 41,79,600 shares on offer, according to the data available on the BSE.

The portion for Qualified Institutional Buyers (QIBs) received 10.92 times subscription, while the quota for non-institutional investors subscribed 7.26 times. The category for individual investors received 3.85 times subscription.

The shares of the company will list on the BSE SME on December 18.

Last week, Pajson Agro India had collected nearly Rs 21 crore from anchor investors.

The IPO comprised a fresh issue of 63.09 lakh shares at a price of Rs 118 per share, amounting to Rs 74.45 crore.

The net proceeds of Rs 57 crore from the fresh issue will be used to set up a second cashew processing facility in Vizianagaram, Andhra Pradesh, and for general corporate purposes.

Incorporated in 2021, Pajson Agro India is engaged in processing raw cashew nuts into kernels for domestic and international markets.

The company offers various grades of cashew nuts, processed and packaged in both bulk and consumer retail packs, and markets select dry fruits under its brand "Royal Mewa" through a mix of e-commerce platforms and offline distribution channels.

On the financial front, the company reported a revenue of Rs 187.26 crore and profit after tax of Rs 20.42 crore in FY25.

Smart Horizon Capital Advisors is the sole book-running lead manager for the IPO.