Gujarat Peanut and Agri Products IPO Opens Today: Subscription Window Open Till September 29

Rajkot, September 25, 2025: Gujarat Peanut and Agri Products Limited has initiated its ₹23.80 crore SME IPO on the BSE SME exchange today. The issue will be remaining open till 29 of September for subscription, with the shares to get listed on October 3, 2025.

Gujarat Peanut and Agri Products IPO Details

Each share is going to be worth ₹80 with a lot size of 1,600 shares. Gujarat Peanut and Agri Products IPO is a fresh issue of 29.76 lakh equity shares making it worth ₹23.80 crore. However, there is no offer-for-sale component involved.

Gujarat Peanut and Agri Products Financial Performance

Gujarat Peanut and Agri Products demonstrated a good growth trajectory over the past 3 years. Operating revenue rose from ₹14,798.43 lakh in FY23 to ₹36,304.49 lakh in FY25, almost doubled. Profit after tax also improved from ₹82.22 lakh in FY23 to ₹649.53 lakh in FY25, an indication of enhanced operating efficiency and scale.

The company’s net worth doubled to ₹1,930.22 lakh in FY25 from ₹561.27 lakh in FY23. The earnings per share were much higher at ₹9.07 in FY25 compared to just ₹1.20 in FY23. Borrowings are still high at ₹3,889.40 lakh in FY25, though reduced marginally from FY24.

Gujarat Peanut and Agri Products Key Strengths

Gujarat Peanut and Agri Products is a well-known agro-processor with about two decades of experience in peanuts, seeds, spices, pulses, and food grains. It exports to over 10 countries, including the UAE, China, Thailand, Indonesia, Iraq, Iran, Poland, Kosovo, and Lebanon, and supplies 13 Indian states.

It sells groundnut oil, seeds, spices, pulses, peanut butter, and protein powder. The company is deliberately investing IPO cash in peanut oil, protein powder, and peanut butter to create value-added streams. Due to its promoters’ experience and network, revenue has climbed 2.5 times in two years.

Gujarat Peanut and Agri Products Key Risks

Despite rapid growth, the company has gigantic business risks. In FY25, revenues were over 62% by its top 10 customers and 87% of purchases from its top 10 suppliers, resulting in dependency issues.

With huge receivables and inventory, the company has huge working capital needs. The borrowings in FY25 were ₹3,889.40 lakh on a huge proportion of promoter guarantees. As no fresh gear IPO-funded orders have been booked so far, growth implementation concerns continue.

Tax litigations to the tune of ₹284.19 lakh are outstanding for the firm. All the operations are controlled by a single Rajkot unit, and hence the business is prone to local shocks. Its dependence on imports (48.44 percent of FY25 purchases) and low export contribution (5.89 percent of revenues) make it susceptible to foreign exchange risks.

But again, there is a problem that the promoters bought their shareholding at a price of ₹7.74 per share, which is much lower than the IPO price of ₹80.

About the Company

Established in 2005 and having its head office at Rajkot, Gujarat Peanut and Agri Products Limited deals in cleaning, grading, processing, sorting, trading, and marketing of agricultural produce. Its 6,373 sq. m bungalow house at Rajkot caters to domestic as well as international markets. The company, over the years, has diversified into value-added products while solidifying its position in exports.

Registry and Management

Finshore Management Services Ltd is the manager and Integrated Registry Management Services Pvt Ltd is the registrar. The issue has empowered Anant Securities to act as market maker. The promoters of the company are Arunkumar Natvarlal Chag, Sagar Arunkumar Chag, and Dhruva Sagar Chag.

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