Summary
Adon Agro Commodities IPO is a ₹44.03 crore SME issue, comprising only a fresh issue of 62.90 lakh equity shares.
The IPO opens from 29 June to 1 July 2026, with a price band of ₹66/share to ₹70/share.
The latest GMP is ₹0, indicating an estimated listing price in line with the IPO’s upper price band.
Adon Agro Commodities IPO is a book-built SME IPO aggregating ₹44.03 crore. The entire issue consists of only a fresh issue of 62,90,000 Equity Shares, at a face value of ₹10/share.
The Adon Agro Commodities IPO subscription is open between 29 June 2026 and 1 July 2026. The company expects to complete the allotment process on 2 July 2026, while the shares are tentatively scheduled to begin trading on the BSE SME platform on 6 July 2026.
The issue is priced within a band of ₹66/share to ₹70/share. Applications must be submitted in lots of 2,000 shares/lot. Retail investors, with 2 lots (4,000 shares) at the upper end of the price band, will require an investment of ₹2,80,000. HNI applicants, at least 3 lots (6,000 shares), must invest ₹4,20,000.
Adon Agro Commodities IPO–Key Details
For a quick overview, the table below summarises the main details of the Adon Agro Commodities IPO:
| IPO Open | 29 June 2026 |
| IPO Close | 1 July 2026 |
| Face value | ₹10.00/share |
| Price Band | ₹66.00/share – ₹70.00/share |
| Issue price | – |
| IPO Lot Size | 2,000 shares |
| Offer-for-sale | – |
| Fresh issue | 62,90,000 Equity Shares (₹44.03 crore) |
| Issue Type | SME/Book-built |
| Listing | BSE SME |
| Total Issue Size (₹ Crore) | ₹44.03 crore (62,90,000 Equity Shares) |
| Minimum Investment (Retail) | ₹2,80,000 (2 lots x upper band) |
Adon Agro Commodities IPO–Timeline
Take a look at the table below for the complete timetable of the Adon Agro Commodities IPO:
| Bid Open Date | 29 June 2026 |
| Bid Close Date | 1 July 2026 |
| Allotment | 2 July 2026 |
| Refunds Initiated | 3 July 2026 |
| Share Credit Date | 3 July 2026 |
| Listing | 6 July 2026 |
| UPI mandate Cut-off time | 1 July 2026 (05:00 PM) |
Adon Agro Commodities Limited–Key Performance Indicators (KPIs)
Below is a summary of Adon Agro Commodities’ financial results and important ratios, highlighting its financial health and business performance:
| KPIs | 2025 | 2024 | 2023 |
| ROE (%) | 84.36 | 68.72 | 40.09 |
| ROCE (%) | 60.65 | 51.85 | 49.87 |
| Debt-Equity Ratio (in times) | 0.39 | 1.4 | – |
| RoNW (%) | 84.36 | 68.72 | 40.09 |
| PAT Margin (%) | 7.01 | 2.47 | 0.38 |
| EBITDA Margin (%) | 10.14 | 3.92 | 2.12 |
| Price-Book Value |
Adon Agro Commodities Limited–Financial Information
| 2025 | 2024 | 2023 | |
| Revenue | 10,303.55 | 7,256.71 | 2,233.48 |
| Assets | 3,910.54 | 2,022.31 | 365.35 |
| Profit After Tax | 722.10 | 178.97 | 8.59 |
(Amount in ₹ lakhs)
Adon Agro Commodities IPO–Subscription Status
The subscription status is currently awaited!
The live subscription figures will be available after the IPO bidding period begins.
Applications can be submitted each subscription day between 10:00 AM and 5:00 PM.
Adon Agro Commodities IPO–Grey Premium Market (GMP)
The Adon Agro Commodities SME IPO GMP was reported at ₹0 on 26 June 2026 at 1:58 PM.
| GMP Date | GMP | Est. Listing Price | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 29-06-2026 Open | ₹0 ─ | ₹70 (0.00%) | ₹0 | 29-Jun-2026 15:01 |
| 28-06-2026 | ₹0 ─ | ₹70 (0.00%) | ₹0 | 28-Jun-2026 23:37 |
| 27-06-2026 | ₹0 ─ | ₹70 (0.00%) | ₹0 | 27-Jun-2026 23:34 |
| 26-06-2026 | ₹0 ─ | ₹70 (0.00%) | ₹0 | 26-Jun-2026 23:35 |
| 25-06-2026 | ₹0 ─ | ₹70 (0.00%) | ₹0 | 25-Jun-2026 23:32 |
| 24-06-2026 | ₹0 ─ | ₹70 (0.00%) | ₹0 | 24-Jun-2026 23:33 |
| 23-06-2026 | ₹0 ─ | ₹70 (0.00%) | ₹0 | 23-Jun-2026 23:29 |
Considering the cap price of ₹70/share, the projected listing price is ₹70/share, which points to an estimated listing gain of 0.00%.
Disclaimer: GMP is based on unofficial market activity and does not guarantee the IPO’s listing gains or actual market performance.
Adon Agro Commodities IPO–Reservation
Refer to the table below for the investor-wise share reservation under the Adon Agro Commodities IPO:
| Investor Classification | % Allocation | Shares Offered |
| Market makers | 5.02% | 3,16,000 |
| QIBs | 1.02% | 64,000 |
| NIIs | 47.06% | 29,60,000 |
| Individual Investor | 46.90% | 29,50,000 |
| Total | 100% | 62,90,000 |
Adon Agro Commodities IPO–Lot Size
The table below summarises the lot size requirements, number of shares, and application amount for eligible investor categories:
| Application | Lot Size | Shares | Amount |
| Retail Minimum Application | 2 | 4,000 | ₹2,80,000 |
| Retail Maximum Application | 2 | 4,000 | ₹2,80,000 |
| S-HNI Minimum Application | 3 | 6,000 | ₹4,20,000 |
| S-HNI Maximum Application | 7 | 14,000 | ₹9,80,000 |
| S-HNI Minimum Application | 8 | 16,000 | ₹11,20,000 |
Adon Agro Commodities IPO–Anchor Investors Details
No shares have been earmarked for anchor investors in the Adon Agro Commodities IPO.
Adon Agro Commodities IPO–Prospectus
Refer to the official documents of the Adon Agro Commodities IPO for detailed information and regulatory disclosures:
About Adon Agro Commodities Limited
Incorporation: 24 January 2022
Managing Director: Mr Narayanswamy Venkitkrishnan
Adon Agro Commodities Limited is engaged in the trading and processing of agro commodities, with a core focus on sourcing, importing, processing, packaging, and distributing dry fruits, nuts, seeds, and berries. The company places emphasis on maintaining consistent product quality while meeting customer expectations and following responsible business practices.
To support its operations, the company procures raw materials from both domestic suppliers and international markets, including the UAE, Afghanistan, the United States, Chile, and Sri Lanka.
Its processing facility, located at MIDC Mahape, Navi Mumbai, is equipped to handle multiple stages of production. The facility carries out mechanical almond cracking, manual walnut cracking and grading, cleaning, sorting, roasting, flavouring, and packaging, enabling the company to manage value-added processing under one roof.
| Name | |
| Book Running Lead Manager (BRLM) | Galactico Corporate Services Ltd |
| IPO Registrar | KFin Technologies Limited |
Objectives of Adon Agro Commodities Limited
The table below outlines the proposed utilisation of the funds raised through the IPO:
| Particulars | Amount (in ₹ lakhs) |
| Working capital requirements | 3,200.00 |
| Corporate requirements | – |
Adon Agro Commodities Limited–Strengths
- Integrated Operating Model: The company oversees sourcing, importing, processing, packaging, and distribution under one business model, allowing greater quality control and improved value addition.
- Diversified Product Portfolio: The company offers a wide range of dry fruits, nuts, processed products, snack mixes, and gifting solutions, serving wholesale, retail, institutional, and commercial customers.
- In-house Processing Capabilities: The company’s processing facility carries out cleaning, grading, cracking, sorting, blending, and packaging, supporting the production of higher-value finished products.
- Multiple Distribution Channels: The company carries its sales through B2B, wholesale, retail, institutional, direct-to-consumer, and corporate gifting channels, which reduces the reliance on any single source of revenue.
Adon Agro Commodities Limited–Risks
- Limited Operating History: The company, incorporated in 2022, has a relatively short business history, providing investors with limited historical data to evaluate its long-term performance.
- Dependence on Imports: The company imports a considerable share of its raw materials, making operations sensitive to currency movements, import policies, and international supply chain disruptions.
- Working Capital Intensive Business: The business requires substantial working capital to support bulk purchases, inventory storage, and fluctuations in global dry fruit prices.
- Smaller Scale of Operations: The company operates on a smaller scale than established industry players, which may reduce its negotiating strength with suppliers and logistics service providers.
Adon Agro Commodities IPO–Review
Adon Agro Commodities has demonstrated strong revenue and profitability growth while maintaining healthy return ratios, reflecting improving operational performance. Its integrated business model and in-house processing capabilities support value addition and product quality.
While at the same time, you should also consider its limited operating history, dependence on imported raw materials, and working capital requirements.
Overall, with the GMP indicating a flat listing outlook, the IPO appears more suitable for investors assessing the company’s long-term business fundamentals rather than short-term listing prospects.
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Adon Agro Commodities IPO FAQs
The Adon Agro Commodities IPO is a book-built SME public issue comprising a fresh issue of 62.90 lakh equity shares. The company plans to raise ₹44.03 crore through the issue, and the shares will be listed on the BSE SME platform.
The applications can be submitted through the ASBA facility offered by banks or through a registered broker using the UPI payment mechanism. You must complete and authorise your applications before the UPI cut-off time on the closing date.
The company has overall recorded an improving financial performance and benefits from an integrated business model with in-house processing. However, investors should also evaluate risks such as its short operating history, import dependence, and working capital-intensive operations before making an investment decision.
The current grey market activity indicates a flat listing expectation, with no premium over the upper end of the price band. Nevertheless, actual listing performance will depend on investor demand and prevailing market conditions.
The Adon Agro Commodities IPO will open for subscription on 29 June 2026 and close on 1 July 2026. Investors can submit their applications during the subscription window through eligible IPO application channels.
The Adon Agro Commodities IPO lot size is 2,000 shares. Retail investors must apply for a minimum of 2 lots (4,000 shares), while HNI investors are required to apply for at least 3 lots (6,000 shares).
The basis of allotment is expected to be finalised on 2 July 2026. The refunds and share credits are likely to take place on 3 June 2026.
The Adon Agro Commodities IPO is expected to debut on the BSE SME platform on 6 July 2026, subject to regulatory approvals and completion of the IPO process.
