Quanto Agroworld IPO Day 1: Subscribed 0.02x; Retail demand doubles
- Quanto Agroworld IPO Day 1 subscription stands at 0.02x.
- Retail investors doubled bids to 0.04x, leading all categories.
- QIB and NII segments remain flat at 0x.
- Issue priced at ₹67 per share with a min bid of 4000 shares.
- Listing scheduled for 2026-09-22.
*this image is generated using AI for illustrative purposes only.
Quanto Agroworld IPO subscription stands at 1.35x on Day 3. The issue crossed the fully subscribed threshold as Non-Institutional Buyers (bHNI) surged to 1.34x, while Retail investors jumped 252.6% to 0.67x. Qualified Institutional Buyers remained unsubscribed as the bidding window closes.
Subscription Status
The subscription progression shows a sharp acceleration on the final day of bidding. Demand has been primarily driven by high-net-worth individuals in the NII category, which pushed the total subscription above 1x. Retail participation also picked up pace significantly after midday.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 15-09-2026 | 0.00x | 0.00x | 0.00x | 0.04x | 0.02x |
| Day 2 | 16-09-2026 | 0.00x | 0.00x | 0.11x | 0.11x | 0.11x |
| Day 3 | 17-09-2026 | 0.00x | 0.00x | 1.34x | 0.67x | 1.35x |
Intra-day Timeline
Subscription activity picked up pace in the latter half of the day. Updates recorded at 13:15 IST and 14:15 IST showed a total of 0.01x. By 15:15 IST, Retail bids increased to 0.03x, pushing the total to 0.02x. The final update at 16:15 IST confirmed Retail at 0.04x, maintaining the total at 0.02x. A subsequent update at 17:15 IST maintained these figures.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 13:15 | 0.00x | 0.00x | 0.02x | 0.01x |
| 14:15 | 0.00x | 0.00x | 0.02x | 0.01x |
| 15:15 | 0.00x | 0.00x | 0.03x | 0.02x |
| 16:15 | 0.00x | 0.00x | 0.04x | 0.02x |
| 17:15 | 0.00x | 0.00x | 0.04x | 0.02x |
Category-wise Breakdown
- NII (bHNI): Subscribed 1.34x, leading all categories and driving the issue past the 1x threshold.
- Retail: Subscribed 0.67x, recording a 252.6% intraday jump from 0.19x.
- QIB: Subscribed 0.00x.
- Employees: Subscribed 0.00x.
- NII (sHNI): Subscribed 0.00x.
Offer Details
- Price Band: ₹67.00000 - ₹67.00000
- Issue Size: ₹268000 - ₹500000
- Min Bid Qty: 4000
- Open Date: 2026-09-15 10:00:00
- Close Date: 2026-09-17 16:00:00
About the Company
Quanto Agroworld Limited is engaged in the cultivation, processing, and supply of Medicinal and Aromatic Plants (MAPs) in India. Lemongrass constitutes its primary crop and principal commercial focus. The company operates as a specialty ingredient manufacturer focused on lemongrass-based botanical formats and essential oils through a vertically integrated business model. This model covers the complete operational cycle from agricultural cultivation to primary processing and bulk supply. Cultivation operations are undertaken through government-leased agricultural land and privately leased farmland operated through a subsidiary, with approximately 424 acres under active cultivation and an additional 312.57 acres under development.
The company is led by CEO Mr. Surendra Kumar Babulal Agarwal and MD Mrs. Sangeeta Surendra Agarwal. Key strengths include its vertically integrated operating structure, structured access to cultivation land with multi-year visibility, and cost-efficient cultivation and processing configuration.
Financial Highlights
Standalone financial data for Quanto Agroworld:
| Particulars | FY2024 (₹ crores) | FY2025 (₹ crores) | FY2026 (₹ crores) |
|---|---|---|---|
| Revenue from Operations | 15.55 | 16.49 | 40.35 |
| Total Profit | 5.37 | 6.63 | 8.38 |
| Total Assets | 24.82 | 33.43 | 40.00 |
| Total Liabilities | 5.78 | 7.76 | 5.94 |
Objects of the Issue
- Capital Expenditure for Distillation Plant: ₹3.79 crores to establish a new distillation plant at Ravalgaon, Maharashtra.
- Capital Expenditure for Farms: ₹15.23 crores to scale cultivation of MAPs and expand farmlands.
- Repayment of Borrowings: ₹3.63 crores to repay or prepay outstanding borrowings.
- General Corporate Purpose: ₹4.65 crores for strategic initiatives, brand building, and contingencies.
Risk Factors
- Customer Concentration Risk: Top customer contributed 54.57% of revenue in FY2026; top 5 customers contributed 85.49%.
- Trade Receivables Collection Risk: Trade receivables totaled ₹940.13 lakhs as of March 31, 2026, with ₹553.91 lakhs outstanding for more than six months.
- Weather and Climate-Related Operational Risk: Business is exposed to adverse weather patterns including irregular monsoons, floods, and droughts.
- Related Party Transaction Dependency: Significant purchases from related party Quanto Agritech Private Limited, representing 23.31% of total expenses in FY2024.
- Geographic Revenue Concentration Risk: 99.26% of revenues from Maharashtra as of March 31, 2026.
What's Next
- Allotment Date: 2026-09-18
- Listing Date: 2026-09-22
Will the complete absence of QIB and NII interest on Day 1 signal a lack of institutional confidence in Quanto Agroworld's business model or valuation?
How might the company's heavy reliance on a single customer for over 54% of revenue impact its stock stability post-listing?
Could the high proportion of trade receivables outstanding for more than six months indicate potential liquidity issues that investors should monitor?
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