BSE SME Peshwa Wheat sees its debut turn sour

Peshwa Wheat traded at Rs 95.05 on the BSE, representing a 5.89% discount over its issue price of Rs 101.

The scrip was listed at Rs 100.05, a discount of 0.94% to the IPO price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 100.05 and a low of Rs 95.05. About 4.48 lakh shares changed hands on the BSE.

Peshwa Wheat's IPO was subscribed 2.67 times. The issue comprised an entirely fresh issue of 52.99 lakh shares. The IPO opened for subscription on 24 September 2026 and closed on 28 September 2026. The price band was fixed at Rs 95-101 per share, with the issue price set at Rs 101.

The promoter and promoter group holding will decline to 52.39% after the IPO from 72.61% before the issue.

The company plans to use Rs 6.69 crore of the IPO proceeds towards the purchase of plant and machinery and another Rs 5.01 crore towards civil construction. A further Rs 26.50 crore has been earmarked for working capital requirements, while Rs 8.02 crore will be used for general corporate purposes and Rs 7.30 crore towards issue expenses.

Incorporated in 2023, Peshwa Wheat processes wheat-based products such as atta, Sortex wheat, broken wheat, gram flour and maize flour. The company mainly supplies products in 50 kg and 30 kg packaging. It also uses wheat bran generated during production as cattle feed, with the company stating that this supports zero-waste and zero-discharge operations.

The company operates a fully integrated flour processing unit in Indore, Madhya Pradesh, with an installed capacity of 56,100 MTPA. Its products are mainly sold through super stockists and directly to customers requiring bulk quantities, including restaurants, bakeries, wholesalers and large buyers. The company operates primarily in the B2B segment across Madhya Pradesh, Maharashtra, Karnataka and Gujarat. It also trades in vegetables, mainly potatoes and tomatoes, within Madhya Pradesh.

As of 31 March 2026, Peshwa Wheat had 24 permanent employees.

The company's total income increased 26% to Rs 215.96 crore in FY2026 from Rs 171.55 crore in FY2025, while profit after tax rose 34% to Rs 15.81 crore from Rs 11.84 crore. EBITDA increased to Rs 22.73 crore in FY2026 from Rs 18.05 crore in FY2025. Net worth stood at Rs 43.06 crore and total borrowings at Rs 23.74 crore as of 31 March 2026.

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