| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 43.79 | 171.53 | 215.94 |
| Expenses | 37.12 | 155.51 | 194.72 |
| Other Income | 0.01 | 0.01 | 0.02 |
| Total Revenue | 43.81 | 171.55 | 215.96 |
| Profit Before Tax | 6.69 | 16.04 | 21.24 |
| Net Profit | 5.21 | 11.84 | 15.81 |
Peshwa Wheat
Peshwa Wheat IPO
₹2,28,000
1.06 xOver-subscribedBidding Dates 24 Sept, 26 -28 Sept, 26
Min Investment ₹2,28,000
Lot Size1,200
Price Range ₹95 – ₹101
Issue Size ₹53.52 Cr.
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IPO Subscription Details
Retail Subscription Details
0.02 x
Non-Institutional Buyers (sHNI)
0.01 x
Non-Institutional Buyers (bHNI)
0 x
Qualified Institutional Buyers (QIB)
106.83 x
Total1.06 x
1.06 x IPO Timeline
IPO Offer Start
24 Sept,26
IPO Offer Ends
28 Sept,26
Allotment Finalisation
29 Sept,26
Refund Initiation
30 Sept,26
Listing of Shares
01 Oct,26
IPO Analysis
Strengths
The company is promoted by individuals with over 7 years of experience each in the Agriculture and Food Industry, whose entrepreneurial vision and expertise drive strategic and day-to-day business operations, enabling the company to capitalize on current and future market opportunities.
The company benefits from fully integrated processing operations covering the entire value chain — from raw material procurement to packaging and dispatch — reducing logistics costs, eliminating third-party processing margins, and enabling competitive pricing while preserving healthy margins.
The company has established long-standing procurement networks with farmers, local aggregators, mandis, and regional partners, enabling direct sourcing at optimized prices, avoiding intermediary margins, and ensuring traceability and superior end-product quality.
Risks
The company relies heavily on a limited number of customers, with the top 10 customers accounting for 71.14% of revenue from operations in FY2026 and 70.98% in FY2025. Loss of any major customer could materially and adversely affect revenue and operational results.
The top single supplier accounted for 38.48% of total purchases in FY2026 and 54.54% in FY2025, with approximately 38.49% of raw materials procured from related party Peshwa Nutrition Private Limited. This concentration limits bargaining power and exposes the company to supply disruptions, pricing volatility, and potential conflicts of interest.
The company procures 100% of its raw materials — wheat, chana dal, and maize kernel — exclusively from Madhya Pradesh, with no established alternative sourcing arrangements. Any regional disruption, policy change, natural calamity, or crop failure could materially affect procurement continuity, operating costs, and financial performance.
Objectives
The company intends to expand its installed manufacturing capacity by purchasing new plant and machinery to be installed at its existing facility in Indore, Madhya Pradesh. This expansion is aimed at increasing production capacity, improving efficiency, and catering to a wider customer base.
The company proposes to undertake vertical expansion of its existing manufacturing facility by constructing a first and second floor to accommodate new machinery, as the current ground-floor space is insufficient for installation of all proposed equipment.
The company intends to utilize a portion of the net proceeds to meet its incremental working capital requirements for FY 2026-27 and FY 2027-28, with the balance to be funded through borrowings and internal accruals.
The company intends to deploy a portion of the net proceeds towards general corporate purposes including meeting operating expenses, strengthening business development and marketing capabilities, subject to a cap of the lower of a specified percentage of gross proceeds or a maximum amount in lakhs.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 31.17 | 65.95 | 80.60 |
| Current Assets | 25.71 | 52.82 | 76.23 |
| Fixed Assets | 5.46 | 13.13 | 4.37 |
| Total Equity & Liabilities | 31.17 | 65.95 | 80.60 |
| Total Liabilities | 15.75 | 38.69 | 37.53 |
| Current Liabilities | 15.36 | 38.20 | 36.75 |
| Non Current Liabilities | 0.39 | 0.50 | 0.78 |
| Total Equity | 15.42 | 27.26 | 43.06 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | 1.33 | 0.15 | 15.81 |
| Investing Activities | -1.69 | -0.29 | 0.12 |
| Operating Activities | -2.02 | -13.10 | 15.64 |
| Financing Activities | 5.03 | 13.55 | 0.04 |
About Peshwa Wheat
Peshwa Wheat Limited is an Indore-based food processing company engaged in the manufacturing of wheat-based products (Atta, Sortex Wheat, Broken Wheat, Wheat Bran), other flour products (Gram Flour/Besan, Maize Flour), and trading of vegetables. The company operates a fully automated, integrated processing unit with an installed capacity of 56,100 MTPA,...more
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Managing DirectorRahat Ali Saiyed
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