The SME IPO of Adon Agro Commodities will open for subscription on Monday, with the grey market premium (GMP) at zero, indicating expectations of a flat listing if current market sentiment continues. The Rs 44 crore SME IPO is entirely a fresh issue of 62.9 lakh equity shares with no offer-for-sale component. The issue is priced in the band of Rs 66-70 per share and will remain open for bidding until July 1. The shares are proposed to be listed on the BSE SME platform on July 6.
Investors can bid for a minimum of 4,000 shares, requiring an investment of Rs 2.8 lakh at the upper end of the price band. Galactico Corporate Services is the book-running lead manager, while KFin Technologies is the registrar to the issue.
Mumbai-based Adon Agro Commodities is engaged in the sourcing, importing, processing, packaging and distribution of dry fruits, nuts, seeds and berries. Its product portfolio includes almonds, cashews, walnuts, pistachios, raisins, dried dates, apricots and figs, sold in both bulk and retail formats under its "Hunger Nuts" brand. The company also caters to the corporate gifting segment through customised dry fruit hampers.
The company sources products from both domestic and international markets, including the UAE, Afghanistan, the US, Chile and Sri Lanka. It operates a processing facility at Mahape, Navi Mumbai, where it undertakes cleaning, grading, roasting, flavouring and packaging. The facility has an annual processing capacity of 4,800 tonnes for almonds and 2,000 tonnes for walnuts.
Adon Agro has reported strong financial growth. For the nine months ended January 2026, the company posted total income of Rs 287.3 crore and net profit of Rs 21.6 crore, compared with revenue of Rs 103 crore and profit of Rs 7.2 crore in FY25. Its customer base expanded sharply to 871 customers as of January 2026 from 101 customers in FY25.
The company plans to utilise the IPO proceeds primarily to fund incremental working capital requirements, with the balance earmarked for general corporate purposes.
