Quanto Agroworld IPO Day 3: Subscribed 0.27x; Retail jumps 63% to lead
- Quanto Agroworld IPO subscription stands at 0.27x on Day 3.
- Retail investors led the momentum, jumping 63.2% to 0.31x.
- QIB and NII categories remain unsubscribed at 0.00x.
- Bidding window closes on 17-09-2026; allotment on 18-09-2026.
*this image is generated using AI for illustrative purposes only.
Quanto Agroworld IPO subscription stands at 0.27x on Day 3. Retail investors led the latest momentum, jumping 63.2% to 0.31x, while Qualified Institutional Buyers and Non-Institutional Investors remained unsubscribed as the bidding window closes.
Subscription Status
The subscription progression shows modest uptake across the three-day bidding window. Demand has been primarily driven by retail participants, while institutional interest has remained absent throughout the process.
| 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 | 0.11x | 0.31x | 0.27x |
Intra-day Timeline
On the final day of bidding, 17-09-2026, retail subscription picked up pace after midday, driving the total subscription higher.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 0.00x | 0.19x | 0.18x |
| 12:15 | 0.00x | 0.00x | 0.23x | 0.22x |
| 13:15 | 0.00x | 0.00x | 0.31x | 0.27x |
Category-wise Breakdown
- Retail: Subscribed 0.31x, leading all categories with a 63.2% intraday jump from 0.19x.
- NII (bHNI): Subscribed 0.11x.
- 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
How might the complete lack of QIB subscription impact the initial listing price volatility and liquidity for Quanto Agroworld shares?
Given the 54.57% revenue dependency on a single customer, what strategies does the company have in place to diversify its client base post-IPO?
Will the ₹15.23 crore allocation for farm expansion be sufficient to mitigate the significant weather and climate-related operational risks highlighted in the prospectus?
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