Peshwa Wheat, an integrated wheat processor based in Indore, Madhya Pradesh, is poised to raise ₹53.52 crore through an Initial Public Offering (IPO). The company plans to utilize the capital infusion to bolster its manufacturing infrastructure and meet critical working capital needs as part of a strategic expansion.
IPO Details and Timeline
The IPO window for Peshwa Wheat is scheduled to open on September 24 and will close on September 28. Shares will be offered within a price band of ₹95 to ₹101 apiece. The company intends to list its shares on the BSE SME platform, with the issue comprising a total of 52.99 lakh shares.
Funding Allocation for Growth
A substantial portion of the IPO proceeds has been allocated for the company's operational growth. Peshwa Wheat plans to commit ₹26.50 crore towards working capital requirements, ensuring smooth day-to-day operations. Additionally, ₹6.69 crore will be invested in new plant and machinery, with another ₹5.01 crore designated for civil construction. Any remaining funds will be used for general corporate purposes, offering flexibility for future strategic initiatives.
Company Profile and Performance
Peshwa Wheat operates a comprehensive flour-processing facility in Indore, boasting an installed capacity of 56,100 tonnes per annum. Its diverse product range includes atta, Sortex wheat, broken wheat, besan, and maize flour. The company serves a broad customer base spanning Madhya Pradesh, Maharashtra, Karnataka, and Gujarat.
The company has demonstrated robust financial performance, reporting significant growth in the last fiscal year. For FY26, Peshwa Wheat's total income reached ₹215.96 crore, a notable increase from ₹171.55 crore in FY25. Profit after tax also saw a healthy rise, climbing to ₹15.81 crore from ₹11.84 crore, while EBITDA improved from ₹18.05 crore to ₹22.73 crore.
Offline market participants in Ahmedabad, Rajkot, and Surat have indicated a grey-market premium (GMP) of approximately ₹58–60 per share. However, it is crucial to remember that grey-market premiums are unofficial indicators and are subject to change before the official listing.
The retail lot size for the IPO is set at 1,200 shares, with the issue price capped at ₹101 per share.