Peshwa Wheat IPO Day 1 saw a dramatic turnaround as Qualified Institutional Buyers (QIBs) drove the issue to 98.61x, lifting the overall subscription to 0.98x. Retail and Non-Institutional categories remained largely untouched, with minimal participation recorded throughout the day.

Subscription Status

The Peshwa Wheat IPO opened with negligible interest but experienced a massive spike in institutional demand by early afternoon. The QIB category emerged as the sole driver of demand, registering a subscription multiple of 98.61x. In contrast, Non-Institutional Buyers (NII) and Retail investors showed almost no activity, with NII at 0.00x and Retail at 0.01x. The Employee category saw zero subscription. The total issue was subscribed 0.98x by the end of Day 1, indicating that institutional appetite is carrying the offering so far.

Intra-day Timeline

Data from September 24, 2026, reveals that the entire subscription jump occurred between 12:15 PM and 1:15 PM IST. At 12:15 PM, the total subscription stood at just 0.10x with no QIB participation. By 1:15 PM, QIBs had subscribed 98.61x, pushing the total to 0.98x. No further significant changes were reported in subsequent snapshots for the day.

Offer Details

The Peshwa Wheat IPO is a fresh issue aiming to raise funds for capacity expansion and working capital requirements.

• Price Band: ₹95.00 - ₹101.00 per share
• Issue Size: ₹22.80 crore - ₹50.00 crore
• Minimum Bid Quantity: 2400 shares
• Opening Date: 2026-09-24 10:00:00
• Closing Date: 2026-09-28 16:00:00

About the Company

Peshwa Wheat Limited is an Indore-based food processing company engaged in manufacturing wheat-based products such as Atta, Sortex Wheat, Broken Wheat, and Wheat Bran. It also produces other flour products like Gram Flour (Besan) and Maize Flour, alongside trading vegetables. The company operates a fully automated, integrated processing unit with an installed capacity of 56,100 MTPA, achieving 90.10% utilization in FY2026. It holds FSSAI and ISO 22000:2018 certifications and markets its products in the B2B segment across Madhya Pradesh, Maharashtra, Karnataka, and Gujarat.

Financial Highlights

The company has shown growth in revenue and profitability over the last three financial years.

Objects of the Issue

The net proceeds from the IPO will be utilized for:

• Capital Expenditure: ₹6.69 crore towards purchasing plant and machinery to expand manufacturing capacity at the Indore facility.
• Civil Construction: ₹5.01 crore for vertical expansion of the existing manufacturing facility by constructing first and second floors.
• Working Capital: ₹26.50 crore to meet incremental working capital requirements for FY 2026-27 and FY 2027-28.
• General Corporate Purposes: A portion of proceeds for operating expenses and business development.

Risk Factors

Key risks disclosed include:

• Customer Concentration: Top 10 customers accounted for 71.14% of revenue from operations in FY2026.
• Supplier Dependency: The top single supplier accounted for 38.48% of total purchases in FY2026, with significant procurement from a related party.
• Geographical Concentration: 97.21% of FY2026 revenue was derived from Madhya Pradesh alone.
• Raw Material Sourcing: 100% of raw materials are procured exclusively from Madhya Pradesh, exposing the company to regional disruptions.

What's Next

The subscription window closes on September 28, 2026. Allotment is scheduled for September 29, 2026, with listing expected on October 1, 2026.