Pajson Agro India Secures In-Principle BSE Approval for SME IPO

New Delhi, November 20: Pajson Agro India is set to launch its IPO after securing in-principle approval from BSE Ltd. The approval allows the company to proceed with an initial public offering on the SME platform. The IPO comprises a fresh issue of over 63.09 lakh equity shares, each with a face value of ₹10. Smart Horizon Capital Advisors Pvt. Ltd. will act as the book-running lead manager, while Bigshare Services will serve as the registrar for the issue.

Pajson Agro India is a fast-growing player in the agro-processing sector, specialising in the processing and marketing of cashew nuts. The company is involved in the end-to-end value chain, from sourcing raw cashew nuts (RCN) directly from regions in India and Africa, to processing them into various grades of cashew kernels at its facilities. It also markets select dry fruits under its white-label brand “Royal Mewa” through both e-commerce and offline distribution channels. The company was established in 2021 and is headquartered in New Delhi.

Pajson Agro India IPO: Utilisation of Proceeds

The company will utilise ₹57 crore from the IPO proceeds to establish a second cashew processing facility in Vizianagaram, Andhra Pradesh. The company will use the remaining amount for general corporate purposes.

Pajson Agro India Financial Highlights

As of 31 March 2025, the company reported assets of ₹65.73 crore, up from ₹55.39 crore in FY24 and ₹50.17 crore in FY23. Total income almost doubled to ₹187.28 crore in FY25 compared to ₹96.04 crore in FY24, while FY23 income stood at ₹101.13 crore. Profit after tax increased to ₹20.42 crore in FY25, a rise from ₹3.35 crore in FY24 and only ₹0.02 crore in FY23. EBITDA also improved to ₹30.27 crore in FY25 versus ₹5.74 crore in FY24 and ₹1.10 crore in FY23.

What’s Next for Pajson Agro India?

Pajson Agro India has received in-principle approval to list its shares on the BSE SME platform, bringing the company closer to launching its IPO. The company’s strong financial performance, with profits rising to ₹20.42 crore in FY25, adds to investor interest. Market participants are now awaiting further details about the IPO, which the company is expected to announce soon.

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