Peshwa Wheat IPO gets Rs 88 crore QIB bids on day one, quota subscribed 177 times
Institutional investors rushed to bid for Peshwa Wheat's SME IPO on the first day, filling the QIB quota over 177 times.
About 10 SME IPOs are currently running in the stock market, but Peshwa Wheat Limited's IPO has grabbed attention on its very first day. Qualified institutional buyers (QIBs) rushed to buy into the issue, listed on the BSE, within a few hours, surprising the market. The QIB quota was subscribed more than 177 times on day one itself.
The company had set aside a total of 49,200 shares in the QIB quota, but applications for 87.14 lakh shares came in on the first day itself. This means bids worth around Rs 88 crore were placed for the QIB quota alone. Given this strong demand, the entire IPO looks set to be fully subscribed on its first day.
The total size of the IPO is Rs 53.52 crore, comprising 52.99 lakh equity shares. The company has set a price band of Rs 95 to Rs 101 per share. The issue will list on the BSE SME platform on October 1, 2026. Its grey market premium is currently between Rs 85 and Rs 90, based on which it is estimated the share could list around Rs 186 to Rs 191.
The company's financial year 2026 figures have also been strong. Peshwa Wheat's total income stood at Rs 215.96 crore, while net profit (PAT) rose 34 percent to reach Rs 15.81 crore. The company's earnings per share (EPS) is Rs 11.51. At the upper price band of Rs 101, the share is valued at a PE multiple of 8.77, considered cheap compared to other companies in the agri sector.
Peshwa Wheat sources raw material from Madhya Pradesh. The company currently has a production capacity of 56,100 metric tonnes and is operating at 90 percent capacity. It is now preparing to increase capacity by 83 percent to 1,02,600 metric tonnes. This IPO is entirely a fresh issue, meaning it does not include any offer for sale. The funds raised will be spent on plant expansion, construction and working capital needs.
Following this strong institutional interest, the market will now watch how retail and HNI investors respond to the issue in the remaining days. The IPO will remain open for subscription until September 28.
