NSE SME Green Asia Impex loses ground after listing

Green Asia Impex traded at Rs 84.55 on the NSE, a 5% discount to its issue price of Rs 89.

The scrip was listed at Rs 89, matching the issue price. The stock is currently frozen at its lower limit of 5% from its listing price.

The counter hit a high of Rs 89 and a low of Rs 84.55. About 12.54 lakh shares changed hands on the NSE.

Green Asia Impex's IPO was subscribed 1 times. It was a Rs 59.34 crore book-built issue comprising a fresh issue of 58.94 lakh shares aggregating to Rs 52.46 crore and an offer for sale of 7.73 lakh shares aggregating to Rs 6.88 crore. The IPO opened for subscription on 24 September 2026 and closed on 1 October 2026 after an extension. The issue price was fixed at Rs 89 per share, against a price band of Rs 84 to Rs 89.

The issue comprised 66.67 lakh shares, including 3.36 lakh shares reserved for the market maker. The promoters' shareholding declined from 94.65% before the IPO to 64.91% after the issue.

Green Asia Impex plans to use Rs 40.03 crore of the net IPO proceeds towards capital expenditure for setting up a proposed seafood processing facility, including the purchase and installation of plant, machinery and equipment. Another Rs 6.10 crore is earmarked for general corporate purposes, while Rs 7.16 crore is allocated towards issue expenses.

Incorporated in 2014, Green Asia Impex specialises in sourcing, processing, manufacturing and exporting frozen shrimps and dried chillies. The company supplies B2B customers, including importers, distributors and food processors, in domestic and international markets.

The company's shrimp business covers Vannamei, Black Tiger and freshwater varieties in formats including HOSO, HLSO and PD. Its chilli business involves trading and exporting Indian varieties such as Teja, Guntur Sannam and Bydagi. The company operates in both shrimp processing and chilli trading, with different harvesting seasons helping to balance seasonality.

Green Asia Impex currently operates a semi-automated shrimp processing facility in Unguturu, Andhra Pradesh, spread over 1,838.76 square metres, with installed capacities of 7,200 MTPA for block freezing and 3,600 MTPA for IQF. It plans to establish a new facility at Chennayagudem, spread over 4,955.69 square metres, adding around 16,200 MTPA of capacity. The company had 136 permanent employees as of 31 August 2026.

For FY2026, Green Asia Impex reported total income of Rs 388.63 crore, compared with Rs 339.65 crore in FY2025, an increase of 14%. Profit after tax rose 51% YoY to Rs 15.61 crore from Rs 10.35 crore.

Powered by Capital Market - Live News