PAJSON AGRO INDIA IPO

PAJSON AGRO INDIA IPO

IPO at a Glance: Key Details

Important Dates for Investors

• Opening Date: 11 Dec 2025

• Closing Date: 15 Dec 2025

• UPI Payment Deadline: 15 Dec 2025 (5 PM)

• Allotment Announcement: 16 Dec 2025

• Refund Processing: 17 Dec 2025

• Demat Credit: 17 Dec 2025

• Stock Market Listing: 18 Dec 2025

• Mandate Validity End: 30 Dec 2025

• Anchor Investor Lock-in Release (50%): 15 Jan 2026

• Anchor Investor Lock-in Release (Remaining): 16 Mar 2026

*Dates may be revised as per official updates.

Understanding PAJSON AGRO INDIA

Incorporated in 2021 and subsequently converted into a public company in 2025, Pajson Agro India Limited has established itself as a significant player in the cashew processing industry. The company is actively promoted by Aayush Jain, Anjali Jain, and Pulkit Jain, bringing a focused vision to its operations. At its core, Pajson Agro specializes in transforming raw cashew nuts into premium cashew kernels, which are then supplied to both domestic and international markets.

The company’s diverse product portfolio extends beyond bulk cashew kernels to include multiple cashew grades, available in convenient retail packs, alongside a selection of dry fruits marketed under its dedicated B2C brand, “Royal Mewa.” This strategic diversification allows Pajson Agro to cater to a broad spectrum of consumer preferences and market demands.

Pajson Agro operates a state-of-the-art processing facility located in Andhra Pradesh. This facility has witnessed substantial growth, with its capacity impressively expanding from an initial 7,000 metric tons to 18,000 metric tons. This expansion is a testament to the company’s continuous investment in advanced technology and automation, aimed at enhancing efficiency and output quality. Furthermore, a dedicated packaging unit in Delhi provides crucial support for its retail and white-label product offerings, ensuring efficient distribution and brand presence.

The company employs a robust multi-channel business model, encompassing wholesale mandis, institutional sales, direct exports, and a comprehensive online/offline B2C distribution network. This integrated approach allows Pajson Agro to maintain a strong market foothold and engage with various customer segments effectively. Its operational excellence, coupled with strategic market penetration, underscores its position in the agro-processing sector.

IPO Issue Structure and Financials

The Public Issue of Pajson Agro India Limited aims to raise a total of ₹74.45 crores. Notably, the entire issue size constitutes a fresh issue component. This means that all proceeds from the IPO will directly flow into the company, providing crucial capital for its growth initiatives and strategic expansion plans. This structure indicates the company’s intent to strengthen its financial position and fund its future objectives.

Deployment of Fresh Issue Proceeds

Pajson Agro India Limited has clearly outlined its plans for utilizing the capital raised through this IPO. A significant portion, amounting to ₹57.00 crores, or 76.56% of the net proceeds, is earmarked for capital expenditure. This allocation is primarily intended for establishing a second cashew processing facility. This expansion will substantially increase the company’s production capacity, enhance operational resilience, and support its growing market demands. The remaining ₹17.45 crores, representing 23.44% of the proceeds, will be utilized for general corporate purposes. This includes funding working capital requirements, general administration, and other strategic corporate necessities, ensuring overall operational flexibility and sustainable growth.

Core Strengths Setting PAJSON Apart

• Integrated Processing Operations with Expanding Capacity: Pajson Agro India boasts fully integrated cashew processing operations. The company has impressively scaled its processing capacity from 7,000 MT to 18,000 MT, demonstrating robust operational efficiency and a commitment to meeting increasing market demand through continuous investment in technology and automation.

• Strong Multi-channel Market Presence: The company leverages a diversified multi-channel business model that covers wholesale mandis, institutional sales, direct exports, and both online and offline B2C segments. This comprehensive approach ensures wide market reach and reduces dependence on any single sales channel.

• Established Relationships with Major Institutional Buyers: Pajson Agro has cultivated strong and enduring relationships with prominent institutional buyers, including industry leaders like Reliance Retail and Haldiram. These key partnerships provide a stable foundation for sales volume and market penetration.

• Access to International Raw Cashew Sourcing: Through its group entity, Pajson Global DMCC, the company has reliable access to international raw cashew sourcing. This global supply chain capability ensures a consistent and quality supply of raw materials, crucial for sustaining its processing operations.

• Certified Manufacturing Facility Ensuring Quality: The company operates a certified manufacturing facility that adheres to stringent quality and safety standards. With approvals from ISO, HACCP, and FSSAI, Pajson Agro underscores its commitment to producing high-quality and safe food products, building trust with consumers and partners alike.

Key Risks to Consider

• Heavy Dependence on Imported Raw Cashew Nuts: The business significantly relies on imported raw cashew nuts, making it vulnerable to global supply fluctuations, geopolitical events, currency exchange rate volatility, and international trade policies. Such dependencies can impact raw material costs and availability.

• Concentration of Processing Operations: A substantial portion of the company’s processing operations is concentrated at a single primary facility. While efficient, this concentration increases operational risk, as any disruption (e.g., natural disaster, equipment failure, labor issues) at this facility could severely impact production and supply capabilities.

• Fluctuations in Commodity Prices: The company operates in the agro-commodity sector, making its margins and profitability susceptible to fluctuations in raw cashew nut and finished cashew kernel prices. Unfavorable price movements can negatively affect financial performance.

• Intense Competition: Pajson Agro faces significant competition from numerous domestic and international cashew processors. This competitive landscape may exert pressure on pricing, market share, and profitability, requiring continuous innovation and efficiency improvements.

• Reliance on Key Institutional Buyer Relationships: A potential disruption in relationships with key institutional buyers, such as Reliance Retail and Haldiram, could have a material adverse effect on the company’s revenue and business prospects, given the substantial contribution these relationships make to its sales volume.

Live Subscription Update

Subscription statistics based on the latest available information, as of 05:00 PM on December 12, 2025:

*GMP figures are unofficial and may vary; exchange data is more reliable.

Participating in the PAJSON AGRO INDIA IPO

Investors can participate in this IPO via the official Dhan Kirti IPO platform before the subscription closes.