Quanto Agroworld IPO Day 2: Subscribed 0.04x; Retail ticks to 0.08x
- Quanto Agroworld IPO subscribed 0.04x on Day 2
- Retail category leads with 0.08x demand
- QIB and NII segments remain at 0.00x
- Issue closes on September 17, 2026
*this image is generated using AI for illustrative purposes only.
Quanto Agroworld IPO subscription stands at 0.04x on Day 2, with the Retail category leading demand at 0.08x. Qualified Institutional Buyers and Non-Institutional Investors have yet to place any bids. The issue closes on September 17, 2026.
Subscription Status
The Quanto Agroworld IPO saw minimal traction on its second day of subscription. The overall subscription multiple ticked up slightly from 0.02x on Day 1 to 0.04x on Day 2. Demand is currently driven exclusively by the Retail investor segment, which registered 0.08x subscriptions. Both the QIB and NII categories remain at 0.00x, indicating no institutional or high-net-worth individual participation so far.
Subscription Progression
| 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 | 0.00x | 0.08x | 0.04x |
Intra-day Timeline
On Day 2 (16-09-2026), the subscription figures saw a slight uptick in the Retail segment during the mid-day session. As of 11:15 IST, the Retail segment held a 0.07x subscription. By 12:15 IST, this figure jumped +14.3% to 0.08x, while QIB and NII categories showed no activity.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 0.00x | 0.07x | 0.04x |
| 12:15 | 0.00x | 0.00x | 0.08x | 0.04x |
Offer Details
- Price Band: ₹67.00000 - ₹67.00000
- Issue Size: ₹268000 - ₹500000
- Minimum Bid Quantity: 4000 shares
- IPO Open Date: 2026-09-15
- IPO Close Date: 2026-09-17
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. Approximately 424 acres are under active cultivation, with an additional 312.57 acres under development. The company is led by CEO Mr. Surendra Kumar Babulal Agarwal and MD Mrs. Sangeeta Surendra Agarwal.
Financial Highlights
The company reported revenue from operations of ₹40.35 crores for the year ended March 31, 2026, up from ₹16.49 crores in FY2025. Total profit stood at ₹8.38 crores in FY2026 compared to ₹6.63 crores in FY2025.
| Metric | FY2026 (₹ crores) | FY2025 (₹ crores) | FY2024 (₹ crores) |
|---|---|---|---|
| Revenue from Operations | 40.35 | 16.49 | 15.55 |
| Total Profit | 8.38 | 6.63 | 5.37 |
| Total Assets | 40.00 | 33.43 | 24.82 |
| Total Equity | 34.05 | 25.67 | 19.04 |
Objects of the Issue
- Capital Expenditure for Distillation Plant: ₹3.79 crores to establish a new distillation plant at Ravalgaon, Maharashtra, to expand production capacity.
- Capital Expenditure for Farms: ₹15.23 crores to scale cultivation of MAPs and strengthen biomass availability and B2B supply capability.
- Repayment of Borrowings: ₹3.63 crores to repay or prepay certain outstanding borrowings to reduce indebtedness.
- General Corporate Purpose: ₹4.65 crores for strategic initiatives, brand building, and general corporate purposes.
Risk Factors
- Customer Concentration Risk: The top customer contributed 54.57% of revenue in FY2026, with the top five customers contributing 85.49%. There are no long-term agreements with major customers.
- 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, which could disrupt agricultural production.
- Related Party Transaction Dependency: A significant portion of purchases was from related party Quanto Agritech Private Limited, representing 23.31% of total expenses in FY2024.
- Geographic Revenue Concentration Risk: 99.26% of revenues were from Maharashtra as of March 31, 2026, exposing the company to region-specific risks.
What's Next
- Allotment Date: 2026-09-18
- Listing Date: 2026-09-22
Will the lack of QIB and NII participation on Day 2 signal potential under-subscription risks for the Quanto Agroworld IPO by its September 17 closing?
How might the company's heavy reliance on a single primary customer (54.57% of revenue) impact investor confidence and post-listing valuation stability?
Could the significant outstanding trade receivables (₹553.91 lakhs >6 months) pose liquidity challenges that deter institutional investors from bidding?
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