Gujarat Peanut and Agri Products shares debut at 20% discount to IPO price on BSE SME platform

Gujarat Peanut and Agri Products shares listed with a sharp 20% discount on the BSE SME platform on Friday. The stock debuted at Rs 64 apiece on the BSE SME platform in comparison to the IPO price of Rs 80.

Ahead of its debut, the IPO commanded a grey market premium (GMP) of Rs 25 per share, about 31% over the issue price of Rs 80. However, the actual listing happened at a steep discount.

IPO response

The Rs 23.81 crore issue, which opened on September 25 and closed on September 29, saw strong demand. It was subscribed 7.95 times overall, with the retail category booked 7.53 times and the non-institutional investor (NII) portion covered 7.87 times.

The IPO comprised a fresh issue of 29.76 lakh shares, with no offer-for-sale component. Proceeds will be used for purchasing additional plant and machinery, meeting working capital needs, and general corporate purposes.

Company profile

Gujarat Peanut and Agri Products is a Rajkot-based family-run enterprise. It is engaged in processing, grading, and trading of peanuts and other agricultural commodities. Its portfolio spans peanuts, sesame seeds, spices, pulses, grains, and raw cotton.

The company exports to multiple regions including Asia, Africa, and the Middle East, and operates from a 6,373 sq. metre facility in Rajkot. With repeat clients and established supplier relationships, the company has a presence in both domestic and international markets.

Financials

The company has shown growth over the last two years. Revenue rose 22% to Rs 366.3 crore in FY25, while net profit increased 65% to Rs 6.5 crore, compared to Rs 3.95 crore in FY24. EBITDA also more than doubled to Rs 9.53 crore.

The strong GMP and healthy subscription point to solid listing-day sentiment. If the premium sustains, the stock could debut in the Rs 105–110 range, though longer-term performance will hinge on its ability to expand margins and maintain steady export demand.

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